On Wednesday 24 April at 9:30 a.m., Casa Árabe, together with the Observatory of Islamic Finance in Spain SCIEF, will be presenting the socio-economic note, The expansion of Islamic finance in the world: opportunities in Europe and Spain in 2024, in its Ambassadors’ Lounge. Admission by prior registration until full capacity is reached at this link. In English and Spanish, without interpretation.
In recent years, Islamic finance has experienced significant growth in both volume and geographical expansion. Islamic financial assets as a whole reached an estimated total value of USD 4.5 trillion in 2022, a figure that is expected to rise to USD 6.7 trillion by 2027 (ICD, 2023), which is evidence of their resilience and solidity today, as they have reached a substantial structural weight in many countries.
In the European context, they offer opportunities for development as they converge with one of the sectors with the greatest growth and potential in recent times: ESG (environmental, social and governance) criteria.
Moreover, knowledge and mastery of Islamic financial products is increasingly necessary for companies seeking to operate in countries where Islamic finance is gaining systemic weight. The economic diversification of the Gulf Cooperation Council (GCC) countries and growth in Southeast Asia are creating business opportunities that increasingly require companies to align their projects with – or even use – Islamic finance to finance part or all of the projects.
The Expansion of Islamic Finance in the World: Opportunities in Europe and Spain provides an update on the latest advances and developments by sector and market in Islamic finance globally, by region and country, including Europe and Spain, and identifies those where it has reached a substantial structural weight and where there are opportunities for Spanish companies.
