GCC ties to propel ASEAN Islamic finance past $1tn, Fitch says

GCC ties to propel ASEAN Islamic finance past $1tn, Fitch says

RIYADH: The Islamic finance industry in the Association of Southeast Asian Nations is set to exceed $1 trillion in assets by the end of 2026, driven by Malaysia, Indonesia and Brunei and supported by closer Gulf ties, Fitch Ratings said. The bloc’s Islamic finance sector reached nearly $950 billion at the end of the first half of 2025, accounting for about a quarter of the