Global takaful sector expected to see up to 10% growth: S&P

A report by U.S.-based credit ratings agency S&P Global Ratings Inc. said that the global takaful sector is expected to grow 5% to 10% in 2021, although its contribution to overall industry growth will remain small, Middle East Insurance Review reported. Globally, the Islamic finance industry is expected to record up to 12% growth in 2021-2022 driven by Islamic banking assets growth in Turkey, Malaysia and across some Gulf Cooperation Council nations.

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