S&P Global Ratings forecasts that economic growth in Saudi Arabia and the UAE will continue supporting Islamic banking asset expansion in 2025, barring significant disruptions. The Kingdom’s banking system growth, supported by Vision 2030 initiatives, is expected to contribute significantly to the expansion of Islamic banking assets. Earlier this month, Saudi Arabia led the Gulf Cooperation Council in primary bond and sukuk issuances during the first quarter, raising $31.01 billion from 41 offerings.  

Source: Arab News