Baku, Azerbaijan, October 22. Speaking at the Third Islamic Finance Forum on October 22, Vusal Gasimli, Executive Director of the Center for Analysis of Economic Reforms and Communication (CAERC) in Azerbaijan, announced that the global Islamic finance market reached $6.5 trillion in 2026, Trend’s correspondent reported.
He noted that the market is projected to grow by about 10% this year and is expected to surpass $10 trillion by 2030.
More than 70% of total financing volume comes from the Islamic banking sector, while other Islamic financial instruments are also expanding rapidly. This demonstrates the clear global expansion of Islamic finance. Although Gulf countries represent over half of the market, Indonesia and Malaysia are the second-largest centers in terms of volume.
Experts observe that the rapid growth of Islamic finance aligns fully with current global trends, especially ESG principles and the green economy. “The principles of risk‑sharing, transparency, inclusivity, and fairness that underpin Islamic finance are consistent with the artificial‑intelligence revolution,” he said.
According to him, Azerbaijan has also embraced these global trends.
“These issues are reflected in the country’s socioeconomic development strategies and in Central Bank documents. For Azerbaijan, the evolving nature of investments and new technological approaches are of particular interest,” Vusal Gasimli added.
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