Unleashing potential in Islamic banking
The Islamic Financial Services Industry (IFSI) was valued at approximately USD 3.88 trillion in 2024, according to the Islamic Financial Services Board Stability Report 2025, reflecting a 14.9% year-on-year growth rate. This impressive growth was driven by strong performance across Islamic banking, sukūk, and Islamic insurance segments.
Clearly, there is tremendous growth potential in the industry.
The IFSI benefits from several key advantages, including a renowned business model, a respected reputation, and a well-established market presence. These strengths position Islamic Financial Institutions (IFIs) to capitalize on significant opportunities.
The key question is: how can IFIs best seize this opportunity?
Default Finastra
For banks operating conventional and Islamic banking businesses – as standalone entities or via Islamic windows – the traditional practice has been to deploy separate core banking systems. Regardless of whether they chose modified or pure-play systems, the implementation of two systems creates its own set of challenges. What is the solution? The answer is simple – deploying the right banking platform. To do this a deep understanding of banking – both Islamic and conventional is required. Read our whitepaper to learn more.
