Jeddah: The size of the global Islamic finance industry is currently estimated at around $4 trillion, Sami Al-Suwailem, Acting Director General of the Islamic Development Bank Institute (IsDBI), announced during the 20th IsDB Global Forum on Islamic Finance. The forum was held as part of the annual meetings of the Islamic Development Bank Group (IsDB).

According to Azeri-Press News Agency, Sami Al-Suwailem highlighted that the total size of the Islamic Development Bank Group is approximately $40 billion. He noted that while the IsDB Group constitutes merely 0.1% of the global Islamic finance industry in terms of size, its impact is significantly greater. "This means that in terms of size, the IsDB Group accounts for only 0.1% of the global Islamic finance industry. However, the Group's impact is far greater than its size," he stated.

Sami Al-Suwailem emphasized the pivotal role the IsDB Group has played in the evolution of the Islamic finance industry since its inception. "The IsDB Group has been the leader of the industry for more than 50 years and continues to maintain this leadership. This fact shows that the Group ensures its leadership through quality, not quantity," he remarked.

In addition to its financing operations, the Islamic Development Bank Group is dedicated to the advancement of Islamic finance. Its activities include knowledge sharing, strengthening institutional capacity, and fostering cooperation among member countries, thus underlining its comprehensive approach to industry development.