Kuala Lumpur, Malaysia, 13 September 2024 – The Islamic Financial Services Board (IFSB) is pleased to announce the release of the Islamic Financial Services Industry (IFSI) Stability Report 2024. The IFSB’s annual flagship publication assesses the growth, development, and resilience of the global Islamic finance industry.
The IFSI Stability Report 2024 focuses on current market conditions, highlighting key developments and potential vulnerabilities that could impact financial stability. These insights are based on an assessment of the IFSB’s prudential and structural Islamic financial indicators, which provide a view of the industry’s overall soundness.
In 2023, the global IFSI showed steady growth, with total assets reaching USD 3.38 trillion. This growth was driven by robust performance across Islamic banking, ṣukūk markets, and the Islamic insurance sector, underscoring the industry’s continued resilience and the rising demand for Shariah-compliant financial products globally.
The report also delves into emerging issues within the IFSI that are relevant to global financial stability. This edition focuses on the evolving landscape of crypto and digital assets, as well as climate-related financial risks and considerations for Islamic financial institutions. Additionally, the report features insightful box articles contributed by Bangko Sentral ng Pilipinas, Qatar Central Bank, and Moody’s Investor Services, providing valuable perspectives.
The full report is now available for download on the IFSB website at www.ifsb.org.
