In conjunction with the G20 Summit being held in Saudi Arabia on November 21 to 22, the Islamic Research and Training Institute (IRTI) of the Islamic Development Bank (IsDB) Group has launched the Kingdom of Saudi Arabia Islamic Finance Country Report.
Under the theme “Islamic Finance in Saudi Arabia: Leading the Way to Vision 2030”, the report is the first comprehensive analysis of the Islamic finance sector in the Kingdom.
Saudi Arabia, the largest economy in the Middle East, plays an important role in stabilizing the global economy. The Kingdom is undergoing socio-economic reforms under the Vision 2030, closely aligned with the core G20 objectives of macroeconomic stability, sustainable development, women empowerment, enhanced human capital, and increased flow of trade and investment.
The timing of the Saudi Arabia G20 2020 Presidency offers a unique moment for the world and the Kingdom. Saudi Arabia is in the third year of implementing the Vision 2030 and can therefore share success stories as well as lessons learned, while also being in a prime position to welcome G20 Members’ experiences in these relevant areas.
The new IRTI report finds that Islamic finance has a promising future in Saudi Arabia, especially considering the country’s position in the global landscape.
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