Last year, global sukuk issuance fell short of market expectations, although it was higher than in 2015.
In September 2015, the UN General Assembly adopted its 2030 agenda for sustainable development, comprising 17 sustainable development goals (SDGs) and 169 measurable targets centered on five pillars: people, planet, prosperity peace, and partnership.
“Despite oil prices remaining low next year, Iran’s economic growth will continue” said Vali Zarabiyeh, The chairman of the Board of Directors of Iran’s Saman Bank at Euro Finance Week.
According to S&P report, islamic finance faces challenges from the decline in oil prices, changes in the global regulatory and its own fragmented nature. The industry could be worth $3 trillion sometime in the next decade
The agreement Iran has reached regarding its nuclear program could bring about its eventual economic rebound, and boost Islamic finance in particular, in Standard & Poor's view. Iran agreed the Joint Comprehensive Plan of Action (JCPA) with the P5+1 (China, France, Russia, the U.K., and the U.S. plus Germany) in July 2015. Standard & Poor's believes this bodes well for Iran's economy, if and when sanctions are lifted, and could boost Islamic finance. Iran is one of the largest players in the industry, contributing to around 40% of global Islamic banking assets