Over the last 18 months, Islamic finance has arguably shone the brightest during the COVID-19 pandemic says a report published in late June by Middle East financial advisory specialists Alpen Capital and Alpen Asset Advisors.
It had to face the dual shocks of adjusting to the pandemic and historically low oil prices in 2020 and Islamic finance grew rapidly in 2020.
One reason is this: The first quarter of 2021 saw issuance volumes up by 1.4 per cent in total, according to S&P, which also projected total sukuk issuance of about $140 billion to $155 billion this year, compared with a decline in issuance to $139.8 billion in 2020 from $167.3 billion in 2019.
READ MORE IF YOU WANT TO FIND OUT MORE
