Bahrain has ranked fourth in the world and second in the MENA region for Islamic finance development according to the 2021 Islamic Finance Development Indicator by Refinitiv.
The Islamic Finance Development Indicator (IFDI) measures the overall development in 135 countries based on quantitative development, knowledge, governance, awareness, and corporate social responsibility CSR (Charities and Qard Hasan).
The report places Bahrain first globally for Islamic Finance Regulation and news. Amongst MENA countries, Bahrain ranked first in awareness, governance, corporate social responsibility activities and Islamic finance knowledge.
Bahrain also tops the ranking in the region for Islamic banking, and corporate governance.
Refinitiv is a London Stock Exchange Group (LSEG) business, the world’s leading provider of intelligent information for businesses and professionals.
The report, which is in its ninth edition and entitled Advancing Economies, shows that the world’s Islamic finance industry saw double-digit growth of 14% in 2020 to a total US$3.37 trillion in assets. IFDI projects the size of the Islamic finance industry to rise to $4.94 trillion in 2025. The report also forecasts that digitisation and sustainable finance will continue to be main trends in 2022 and beyond.
To view the Islamic Finance Development Report 2021, click here.