Islamic Banks in UAE See 1.1% Rise in Gross Credit to AED433.7 Billion in Early 2024

Table of ContentsIslamic Banks in UAE: Growth, Opportunities, and Economic ImpactOverview of Credit IncreaseComparative Analysis with Conventional BanksImpact on the EconomyKey Drivers of Growth Islamic Banks in UAE: Growth, Opportunities, and Economic Impact Islamic banking in UAE has seen significant growth in recent years, with a notable increase in gross domestic credit. This trend highlights the expanding role of Sharia-compliant financial institutions in the region’s economy. Overview of Credit Increase In the first four months of 2024, gross credit provided by Islamic banks in UAE increased by 1.1%,