Hejaz Financial Services provides economic outlook for 2022

Australia’s leading expert on halal finance, Hejaz Financial Services, provides forecasts on the state of the Islamic finance industry in 2022.

islamic finance

islamic finance

MELBOURNE, Australia, April 05, 2022 (GLOBE NEWSWIRE) — The islamic finance The sector has undoubtedly experienced good growth over the past few years. However, halal home loan expert Hejaz Financial Services explains that a lack of public awareness of Shariah-compliant financial services has prevented the industry from reaching its full potential. For the remainder of 2022, Hejaz Financial Services forecasts more sustainable growth, with its team of experts sharing the economic outlook for the Islamic financial sector.

Internationally, S&P Global Ratings has predicted an industry expansion of 10-12% throughout 2022, compared to 2021. The halal lending expert explains that this will largely be due to increased digitalization and to fintech collaborations in the industry, which in turn makes the sector much less volatile and better able to withstand unexpected changes in the market. Nowadays, digital access to banking services has become increasingly important for the average consumer; Experts in the Islamic finance industry believe that digitization and use of fintech is the only way to ensure growth in the future.

According to Hejaz Financial Services, over the next 6-12 months the industry is expected to make significant progress in standardization and integration. There is great pressure in the industry to achieve a unified global legal and regulatory framework for Islamic finance; the halal home loan provider explains that this would allow Islamic finance providers to accrue greater benefits and avoid global gaps, making it easier for consumers to access sharia financial services anywhere in the world .

Financial experts are confident that the Islamic finance industry will continue to grow exponentially over the next few years as consumers around the world increasingly seek out ethical financial alternatives. Hejaz Financial Services is currently applying to become Australia’s first all-digital Islamic bank, which will offer Australians – Muslims and non-Muslims – a full range of ethical and Sharia-compliant banking and financial services. For more information on Shariah loans and other Islamic financial services, contact the team today.

Contact us –

Level 11, 2 Queen Street Melbourne 3000

PO BOX 96 Flinders Lane VIC 8009

1300 043 529

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