Post by : Raina
Al-Fahim
S&P Global Ratings and the Dubai International Financial Centre (DIFC) jointly hosted the 15th Annual Islamic Finance Conference at the DIFC Atrium, marking continued momentum in the sector. The gathering highlighted a 10.6% expansion in 2024 and noted that total sukuk outstanding surpassed USD 1 trillion for the first time — underscoring widening global interest and market resilience.
Delegates examined the forward outlook for Islamic finance and its role in promoting sustainable and inclusive economic growth across the Middle East. Sessions also examined developments in GCC capital markets and how Shariah-compliant finance can support regional transformation and new investment strategies.
Hadi Melki, Regional Head at S&P Global Ratings, told attendees that Islamic finance has shown stable performance amid global volatility. "The industry has benefited from stronger banking assets and rising sukuk issuance; with growing financing needs for GCC transformation projects, Islamic finance is positioned to maintain momentum into 2025," he said.
Alya AlZarouni, Chief Operating Officer at DIFC Authority, noted DIFC's commitment to advancing the sector. She said DIFC will continue to promote innovation and build competitive Shariah-compliant solutions that respond to market demand, reflecting a shared push with S&P Global towards a more digital and dynamic industry.
The conference programme included a panel titled "Islamic Finance 2025–2026: Resilient Growth Amid Upcoming Headwinds," which explored drivers of growth, emerging risks and potential opportunities. Panelists such as Abdul Kadir Hussain (Arqaam Capital), Ali Taufeeq (HSBC) and Hitesh Dhoot (DAMAC Properties) provided market perspectives and strategic approaches to sustaining sector expansion.
Speakers from S&P Global Dow Jones Indices outlined trends in global and GCC fixed income markets and offered a focused review of sukuk activity. The day concluded with S&P Global Ratings presenting its GCC cross-sector outlook, giving participants an integrated view of regional credit and market dynamics.
With Islamic finance now exceeding USD 1 trillion in outstanding sukuk, the DIFC and S&P Global partnership aims to reinforce the industry's foundations. The 15th edition celebrated recent achievements while setting priorities for innovation, inclusion and sustainable growth across the Islamic finance ecosystem.
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