ap: Hejaz Financial Services Provides an Economic Outlook for 2022
05 Apr 2022 apnews.com
MELBOURNE, Australia, April 05, 2022 (GLOBE NEWSWIRE) -- The Islam finance sector has undoubtedly experienced a healthy amount of growth throughout the past few years. However, Halal home loan expert Hejaz Financial Services explains that a lack of public awareness of Sharia-compliant financial services has prevented the industry from reaching its full potential. Looking ahead to the remainder of 2022, Hejaz Financial Services predicts more sustainable growth, with its team of experts sharing an economic outlook for the Islamic financial sector.
On an international level, S&P Global Ratings has predicted a 10-12 percent industry expansion throughout 2022, as compared to 2021. The Halal loans expert explains that this will largely be due to increased digitalisation and fintech collaborations in the industry, which will in turn make the sector much less volatile and more able to withstand unexpected market changes. In this day and age, accessing banking services digitally has become increasingly important to the average consumer; experts in the Islamic finance sector believe that digitalisation and utilising fintech is the only way to ensure growth moving forward.
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