$2tn global Islamic finance market is a key focus area: QFC

$2tn global Islamic finance market is a key focus area: QFC:

The Qatar Financial Center (QFC) aims to serve the $2tn global Islamic finance market through three core geographies as Shariah-principled finance will progressively evolve as the most equitable gateway to financial security, according to its top official.

"Islamic finance is a key focus area for both Qatar and the QFC. This was reaffirmed in 2018, when Qatar launched the world's largest single country Islamic exchange traded fund with an initial asset value of $120mn, and in the QFC’s new strategy, which aims to serve the $2tn global Islamic finance market through three core markets – Turkey, Qatar, and Malaysia," QFC Authority chief executive Yousuf Mohamed al-Jaida told the World Economic Forum on the Middle East and North Africa.

As part of moves towards achieving a sustainable and inclusive economy, the QFC will also continue to participate in meaningful dialogues that create opportunities and collaborations in support of this goal, he said at a panel discussion ‘The Promise of Islamic Finance,’ which delved into crucial issues that impact the realisation of the full potential of the sector.