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.


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