#Islamic wealth management is entering a new chapter, according to Ali Allawala, Head of Islamic Banking – UAE and Head of Group Islamic Wealth and Retail at Standard Chartered.
In his op-ed, Allawala explains that the sector is no longer defined solely by its ability to provide
#Shariah-compliant financial solutions, but is also becoming part of a broader global conversation around responsible investing, international diversification, and the long-term creation and preservation of wealth.
Citing Standard Chartered’s (
@StanChartUAE) latest report, he notes that Islamic
#finance now represents approximately US$6 trillion in assets across nearly 100 jurisdictions. He adds that it is increasingly connecting pools of capital with opportunities across markets, as principles such as transparency, prudent risk-sharing, and responsible capital allocation are resonating with a wider range of investors.
“Clients are no longer simply asking whether an
#investment is Shariah-compliant,” Allawala writes. “They want to understand how their portfolios can withstand market volatility, how they can diversify internationally, how technology can improve investment decisions and how they can build lasting legacies for future generations.”
He also highlights the changing expectations of entrepreneurs, business owners, and globally mobile investors, who are looking for guidance across cross-border wealth, international investments, philanthropy, and succession planning. According to Allawala, this is making wealth management more holistic and reinforcing the importance of combining global access with local expertise and trusted advice.
Allawala further points to the
#UAE’s potential to shape the sector’s next phase, supported by its position as one of the world's leading international financial centers and the UAE Strategy for Islamic Finance and Halal Industry.
“The next chapter of Islamic wealth will therefore be defined not simply by how large the industry becomes, but by how effectively it connects values with opportunity, and local wealth with global markets,” he says.
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