Astana International Financial Centre (AIFC)

Official Launch of the IFSB Islamic Financial Services Industry Stability Report 2018 at the Astana Islamic Economy Forum

Astana International Financial Centre (AIFC) officially launched the sixth edition of the Islamic Financial Services Industry (IFSI) Stability Report 2018. The Secretary-General of the IFSB, Dr. Bello Lawal Danbatta highlighted some of the key findings of the 2018 Report, particularly the rising domestic systemic significance of Islamic finance in many key jurisdictions. According to the report, the global IFSI has returned to a robust growth of 8.3%, following two years of growth stagnation. While Islamic capital markets marked a strong performance in 2017 on the back of sovereign sukuk issuances, some underlying weaknesses persisted from the previous year, including those in the corporate sukuk market. The takaful sector continues to face challenges as a result of stiff competition from larger and more established insurance companies.

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