Islamic finance is a rapidly growing part of the global financial markets. According to Refinitiv, global Islamic finance assets grew from $2.17trn in 2015 to $3.96trn in 2021 and are forecast to increase to nearly $6trn by 2025.

These assets are held largely by the Islamic banking system (70 percent of the total) and in Sukuk (Shariah compliant bonds). Islamic funds, other Islamic financial institutions and Takaful (a Shariah-compliant alternative to conventional insurance) make up the remaining 12 percent of the total assets in Islamic finance.