Hejaz Financial Services Provides an Economic Outlook for 2022
MELBOURNE, Australia, April 5, 2022 (Newswire.com) - The Islam finance sector has undoubtedly experienced a healthy amount of growth throughout the past few years. However, Halal home loan expert Hejaz Financial Services explains that a lack of public awareness of Sharia-compliant financial services has prevented the industry from reaching its full potential. Looking ahead to the remainder of 2022, Hejaz Financial Services predicts more sustainable growth, with its team of experts sharing an economic outlook for the Islamic financial sector.
On an international level, S&P Global Ratings has predicted a 10-12 percent industry expansion throughout 2022, as compared to 2021. The Halal loans expert explains that this will largely be due to increased digitalisation and fintech collaborations in the industry, which will in turn make the sector much less volatile and more able to withstand unexpected market changes. In this day and age, accessing banking services digitally has become increasingly important to the average consumer; experts in the Islamic finance sector believe that digitalisation and utilising fintech is the only way to ensure growth moving forward.
According to Hejaz Financial Services, over the next 6-12 months, the industry is expected to advance significantly in regards to standardisation and integration. There is a big push in the industry to achieve a unified global legal and regulator framework for Islamic finance; the Halal home loan provider explains that this would allow Islamic finance providers to accrue greater benefits and avoid discrepancies on a global level, making it easier for consumers to access Sharia financial services anywhere in the world.
Financial experts are confident that the Islamic finance sector will continue to experience exponential growth over the next few years as consumers around the world increasingly seek out ethical financial alternatives. Hejaz Financial Services is currently in the process of applying to become Australia's first 100% digital Islamic bank, which will offer Australians - both Muslim and non-Muslim - a full suite of ethical, Sharia-compliant banking and financial services. For more information on Sharia loans and other Islamic financial services, contact the team today.
Contact us -
Level 11, 2 Queen Street Melbourne 3000
PO BOX 96 Flinders Lane VIC 8009
Source: Hejazfs.com.au
