Global Islamic Finance Assets Top $2.44 Trillion as UAE Deepens Hub Role

The global Islamic finance industry has grown at an accelerated pace, surpassing $2.44 trillion in assets with expansion of roughly 11.4%, according to the Central Bank of the UAE. The sector spans Sharia-compliant banking, takaful insurance and asset management, and its momentum reflects rising demand for ethical, faith-based financial products across the Gulf and beyond. The UAE has been actively positioning itself as a leading global hub for Islamic finance, building on a modernised regulatory framework introduced under a sweeping overhaul of its central bank law that consolidated banking and insurance oversight and expanded the regulator's supervisory and enforcement powers. Growth in Islamic banking assets, sukuk issuance and takaful products supports the country's broader ambitions to diversify its economy and strengthen its standing as an international financial centre. For consumers and businesses, a deeper Islamic finance market widens the range of Sharia-compliant savings, investment and protection options, while for the UAE it reinforces a strategic sector aligned with its long-term economic goals. Regulators have emphasised sustainable growth, consumer protection and alignment with international standards as the industry scales.