Religion

WHAT'S NEXT?: Huge growth is expected over the next several decades as the world's Muslim population grows faster than every other major religious demographic, and as urbanization and rising incomes in developing countries with large Muslim populations mean more will be buying, rather than producing their own food.

[New] With the United States drawing down forces in the Middle East, South Asia, and throughout Africa, al Qaeda, the Islamic State, and their respective affiliates could make a renewed push to capture new territory and destabilize countries and regions.
[New] The rapid growth of the Muslim population in Russia contributes to a sharp increase in demand for Islamic banking tools expected in the coming years.
[New] Many have been predicting that a new US administration will relax sanctions on Iran, enabling Tehran to pour millions into Hezbollah's coffers, after the Islamic Republic has been struggling to pay terrorist salaries over the past year, due in part to the Trump administration's sanctions.
[New] The maximum pressure policy gives the Biden administration the leverage to force Iran to accept a much better deal that would really guarantee that the radical Islamic regime in Tehran will not have a nuclear weapon for decades to come.
[New] International powers fear the ousting of President Ibrahim Boubacar Keita could further destabilise the Malian West African nation and undermine the fight against insurgents linked to al Qaeda and Islamic State in the wider Sahel region.
[New] The international terrorist threat from the Islamic State of Iraq and Syria (ISIS) and al-Qaeda has not gone away, and DHS needs to use the next two to three years to get ready for what is coming next.
Tehran appears to be treading carefully as it waits to see whether a possible removal of President Donald Trump from the White House could alter the maximum pressure policy that has sent Iran's economy into a tailspin.
The collapse of the Islamic State and significant weakening of ISIS created new opportunities for Iran to exploit and expand its influence in Iraq.
Lockdowns and restrictions caused by the coronavirus pandemic appear to have decreased the risk of terrorist attacks in non-conflict zones, but the Islamic State has increased its activity in the Middle East and Africa since the beginning of 2020.
Iran has moved a mock aircraft carrier to the strategic Strait of Hormuz amid increased tensions between Tehran and the US, satellite images released today show, likely signaling the Islamic Republic soon plans to use it for live-fire exercises.
By fueling talk of an imminent agreement, Iran is signaling Europe and a potential Biden administration after the US November presidential election, American and European policies might drive the Islamic Republic into Beijing's arms.
The UAE ranks top globally across five Islamic economy sectors as Islamic finance assets globally recorded a surge to $3.8 trillion while global Muslim spend on food and beverage is expected to reach $1.9 trillion by 2023.
S&P published an article titled, 'Islamic Finance: Syndication Could Make Up For Sukuk's SIslamic countries in the GCC, Turkey, Malaysia and Indonesia are facing a major economic contraction in 2020 due to COVID-19 and lower oil prices.
Despite headwinds, S&P expects total assets of Islamic banks and financial institutions around the world to remain stable or record low single-digit growth this year and next, after a strong growth in 2019.
Saudi Arabia, the world's top oil exporter, is issuing $2.5 billion worth of Islamic bonds, or Sukuk, on Tuesday, returning to the bond market to take advantage of the low borrowing costs in hopes of replenishing its government coffers as persistently low oil prices depress revenues.
The key growth markets for Islamic finance will be focused around countries in the GCC - namely UAE, Saudi Arabia and Kuwait - and Malaysia.
Against the backdrop of the COVID-19 pandemic, fintech will continue to play a significant role in the industry's development in the coming years by improving access to financial services and transforming Islamic social finance.
As green Islamic finance instruments become more widely available, Organization of Islamic Cooperation countries could become an exporter of SDG-aligned investment products across markets, supporting positive change in the most climate stressed parts of the world.
The Islamic State continues to be a threat in many areas that were under its control during its takeover of large territories in the country six years ago.
Moody's expects the GCC sovereigns to continue diversifying their funding mix in favour of sukuk instruments in order to develop their Islamic debt markets and that several issuers will also need to refinance sukuk listed after 2015 that will begin to mature in the coming years.
The United States is pushing for a peace deal in Afghanistan with the hope of withdrawing all of its forces before November, and it has also cut its foreign assistance by $1 billion.

Last updated: 18 January 2021

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