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Islamic Finance: GCC Still Leads as Southeast Asia Gains Ground
06 November 2026

Islamic Finance: GCC Still Leads as Southeast Asia Gains Ground

Morning Drive

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Islamic financing is gaining momentum globally, with syndicated deals reaching $48.1 billion in the first nine months of 2026, up 5% year-on-year. The GCC remains the biggest market, but Southeast Asia is rapidly gaining ground, particularly Malaysia and Singapore. So what's driving this growth, and can it continue amid geopolitical tensions and higher funding costs? Saif Shawqi, Director of Islamic Finance Ratings at Fitch Ratings, joins us to break down the latest trends and what they mean for the global Islamic finance industry.

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