S&P Global Ratings and Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, has jointly hosted the 15th Annual Islamic Finance Conference at the DIFC Atrium.
The 15th Islamic Finance Conference highlighted the industry’s strong performance in 2024, marked by 10.6 per cent growth and total sukuk outstanding surpassing USD 1trn for the first time. The conference covered the global outlook for the Islamic finance industry, highlighting the opportunities and challenges for future growth, and provided a deeper dive into the GCC's evolving capital markets.
Hadi Melki, Regional Head at S&P Global Ratings said, “The Islamic finance industry continues to demonstrate resilience, supported by the growth of banking assets and sukuk issuances. With financing requirements for economic transformation programs in the GCC continuing to grow, Islamic finance is well positioned to maintain its momentum in 2025 despite the prevailing uncertainty. In collaboration with DIFC, the fifteenth edition of the Islamic Finance Conference serves as a vital platform to convene stakeholders, exchange perspectives, and address both the opportunities and challenges shaping the continued development of the Islamic finance sector.”
Alya AlZarouni, Chief Operating Officer at DIFC Authority, said, “As Islamic finance continues to evolve as a force for inclusive and sustainable growth, DIFC remains committed to accelerating its transformation. We are cultivating an environment where innovation thrives, supporting the development of Shariah-compliant solutions that are globally competitive and digitally enabled. Our partnership with S&P Global Ratings for the 15th edition of the Islamic Finance Conference reflects our dedication to fostering meaningful dialogue and collaboration across the industry, ensuring it is equipped to meet the demands of tomorrow.”
The first panel, “Islamic Finance 2025–2026: Resilient Growth Amid Upcoming Headwinds,” examined the key drivers of growth, future opportunities, and the challenges ahead. Panellists include Abdul Kadir Hussain, Head of Fixed Income at Arqaam Capital, Ali Taufeeq, Head of Sukuk Financing MENAT at HSBC, and Hitesh Dhoot, CFO, DAMAC Properties.
S&P Global Dow Jones Indices presented insights on the fixed income landscape including trends in global, GCC and sukuk market; followed by a session on global credit conditions and their impact on emerging markets and the GCC. The final panel focused on S&P Global Ratings’ GCC cross-sector outlook.
