BAKU, Azerbaijan, June 17. The global Islamic finance industry is currently estimated to be worth approximately $4 trillion, Acting Director General of the Islamic Development Bank Institute (IsDBI), Sami Al-Suwailem, said at the 14th Islamic Development Group (IsDB) Private Sector Forum, Trend's correspondent reports from the event.
According to him, the IsDBI Group is approximately $40 billion in size.
"In terms of size, the group represents only 0.1% of the global Islamic finance industry," Al-Suwailem said.
However, he emphasized that the IsDBI Group's influence far exceeds its size.
"The IsDBI Group has been and continues to be an industry leader since its inception over 50 years ago. This demonstrates that the Group leads not by quantity, but by quality," he noted.
Al-Suwailem announced that precisely the vision, values, and principles underpin the organization's operations that distinguish its leadership.
He also emphasized the importance of innovation in achieving the IsDBI Group's goals.
"Therefore, innovation is critical to the success of our mission. At the IsDBI Institute, we consider innovation one of our top priorities," said the bank's acting director general.
According to him, the institute's staff, together with partners, continue to work on finding innovative solutions to the economic challenges facing the organization's member countries using Islamic finance instruments.
