Socially responsible investing and next generation set to drive growth in Islamic finance

According to a new report "The Evolution of Wealth Management in the World of Islamic Finance 2019", demand for Islamic finance solutions is set to increase in the GCC and Middle East in the next five years. The report highlights that promoters of Islamic wealth management are gearing up to offer a greater array of wealth management solutions to a client base that is generating private wealth at a remarkable rate. The report finds that socially responsible investing (SRI) and products offering environmental, social and governance (ESG) standards are driving the increase in demand for Islamic wealth management solutions. The report also shows that Islamic finance is no longer a niche product for Muslim investors alone; more and more non-Muslim families and institutional investors are seeking both performance and long-term value.