DIFC and S&P Global Convene 15th Islamic Finance Conference as Sukuk Surpasses USD 1 Trillion

Post by : Raina Nasser

S&P Global Ratings partnered with Dubai International Financial Centre (DIFC) to stage the 15th Annual Islamic Finance Conference at the DIFC Atrium, spotlighting another year of sector advancement. Delegates reviewed a 10.6% expansion in 2024 and noted that total sukuk outstanding exceeded USD 1 trillion for the first time, underlining growing global relevance and market depth.

Panelists and delegates examined the role Islamic finance plays in promoting sustainable and inclusive economic development across the Middle East and beyond. Sessions also assessed shifts in GCC capital markets and how Shariah-compliant finance can underpin regional transformation and innovation.

Hadi Melki, Regional Head at S&P Global Ratings, told attendees that Islamic finance remains a stabilising force amid global volatility. He observed that the expansion of banking assets and renewed sukuk issuance position the industry to meet rising financing needs tied to GCC transformation agendas into 2025.

Alya AlZarouni, Chief Operating Officer at DIFC Authority, reiterated DIFC’s commitment to advancing the sector through innovation and competitive Shariah-compliant offerings. She noted that the collaboration with S&P Global Ratings reflects a shared aim to accelerate a digitally enabled, globally competitive Islamic finance ecosystem.

The conference programme included a flagship panel, “Islamic Finance 2025–2026: Resilient Growth Amid Upcoming Headwinds,” where speakers such as Abdul Kadir Hussain (Arqaam Capital), Ali Taufeeq (HSBC) and Hitesh Dhoot (DAMAC Properties) analysed market drivers, headwinds and practical strategies to sustain momentum.

Representatives from S&P Global Dow Jones Indices delivered briefings on global and GCC fixed income developments and provided a detailed assessment of sukuk market dynamics. The event wrapped up with S&P Global Ratings presenting a GCC cross-sector outlook to give participants a comprehensive regional perspective.

With Islamic finance now recognised as a USD 1 trillion market, organisers said the DIFC–S&P Global partnership reinforces the industry’s structural foundations. The 15th edition celebrated recent achievements while charting a path toward inclusive, innovative and sustainable growth for the sector.