BAKU, Azerbaijan, October 22. In 2026, the global Islamic finance market reached $6.5 trillion, the Executive Director of the Center for Analysis of Economic Reforms and Communication (CAERC) in Azerbaijan, Vusal Gasimli said during a speech at the Third Islamic Finance Forum on October 22, Trend's correspondent reports from the event.
He noted that this figure is projected to grow by 10% this year and will exceed $10 trillion by 2030.
“More than 70% of the total financing volume comes from the Islamic banking sector. At the same time, other Islamic financial instruments are also developing rapidly. The expansion of Islamic finance on a global scale is evident. Although the Gulf states account for more than half of this market, Indonesia and Malaysia are considered the second-largest centers in terms of volume.
Experts note that the rapid growth of Islamic finance is fully in line with current global trends, particularly ESG principles and the “green” economy. “The principles of risk-sharing, transparency, inclusivity, and fairness that underpin Islamic finance align with the revolution in the field of artificial intelligence,” he said.
According to him, Azerbaijan has also joined these global trends.
“These issues are reflected in the country’s socioeconomic development strategies and in Central Bank documents. For Azerbaijan, the changing nature of investments and new technological approaches are of particular interest,” Vusal Gasimli added.
