During 2020, Islamic financial institutions spent most of the year suffering from the two shocks: the pandemic and historically low oil prices. Explain with evidence how Islamic banking financing in GCC has continued to outperform conventional banking during this period. (Use Central bank statistics and other resources to compare the banks' assets growth rate between 2019-2020)

How have Governments of major Islamic finance markets, in particular, OIC nations taken initiatives aimed at performing Islamic finance, such as innovative laws, developing new practices areas in governance and regulatory framework?

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