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The growing presence of Islamic Finance

As of 2024, the global Islamic finance market is estimated to be around $2.5-4.5 trillion Islamic finance, a unique financial system guided by the ethical principles of Islamic law (Shariah), sets itself apart from conventional finance in several ways. It prohibits paying and charging interest (Riba), promoting profit and loss sharing. This system is underpinned by tangible assets, ensuring a more secure and ethical approach to finance. Islamic finance banks are committed to ethical investments, avoiding harmful or unethical activities like alcohol and gambling. Moreover, they shun excessive uncertainty and speculation, fostering a responsible financial management culture that inspires industry confidence.