30 May 2024 | Thursday

In this recent decade, the global growth of Islamic finance has far exceeded our expectations, despite a highly difficult world environment. This period has experienced wide ranging seismic developments with its significantly disruptive implications on the world economy. The climate crisis which has been building up over an extended period has resulted in extreme weather conditions with destabilising effects on economic activity. The geopolitical tensions and ongoing wars are also having consequences on trade flows and hence on economies. And the earlier eruption of the global health pandemic has had disastrous economic and social consequence on humanity. Then more recently, the advances in technology, digitalisation and the accelerated application of artificial intelligence are now cumulatively having transformative effects on the functioning of economies.

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