UAE's Islamic Finance Assets Top $2.4 Trillion Globally, Central Bank Notes

The global Islamic finance industry has grown past $2.44 trillion in assets, expanding at a rate of about 11.4%, according to figures highlighted by the Central Bank of the UAE, which has been positioning the country as a leading centre for Sharia-compliant finance. The industry spans three main pillars: Islamic banking, takaful insurance and asset management, all structured to comply with Islamic principles that prohibit interest and require risk-sharing and asset-backing. The UAE has invested heavily in the ecosystem supporting this growth, from Sharia governance standards to a dedicated fintech office aimed at building a mature financial-technology sector and positioning the country as a regional and global hub. Islamic finance has drawn growing interest well beyond traditional markets as issuers and investors seek ethical and asset-linked instruments, with sovereign and corporate sukuk issuance expanding and takaful gaining ground as an alternative to conventional insurance. For the UAE, deepening the sector aligns with broader ambitions to diversify its economy, strengthen its capital markets and attract international capital. Continued double-digit growth underscores both the scale of the opportunity and the competition among global financial centres to capture Islamic finance business.