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global assets
Business / 2 weeks ago
Sudan tops global ranking of Islamic finance assets as industry expands across the Middle East and Africa
According to Global Finance Magazine, Sudan holds the largest volume of assets in Islamic banks worldwide, an estimated $484 billion, placing it ahead of Saudi Arabia, the UAE, Qatar and Kuwait. Islamic finance is growing faster than ever, and new figures show a surprising leader at the top. According to Global Finance Magazine, Sudan holds the largest volume of assets in Islamic banks worldwide, an estimated $484 billion, placing it ahead of Saudi Arabia, the UAE, Qatar and Kuwait. The latest numbers highlight a major shift in the global financial landscape. Countries across the Middle East and Africa continue to expand Islamic banking, which follows Sharia principles such as profit-and-loss sharing and the prohibition of interest-based lending.
