Global Islamic Finance Assets Grow 163% in a Decade

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Adi Ahdiat 28/08/2024 15:06 WIB

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According to the Islamic Finance Development Report, the global value of assets in the Islamic finance industry grew by 163% between 2012 and 2022.

Global Islamic Finance Industry Asset Value (2012-2022)

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Global Islamic Finance Industry Asset Value (2012-2022)

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The Islamic finance industry comprises Islamic banking, sukuk, Islamic funds, Takaful (Islamic insurance), and other finance industries based on Islamic principles.

According to the Islamic Finance Development Report (IFDR), the value of assets in this industry continues to grow globally, as illustrated in the graph.

"Global Islamic finance assets increased by 163% in the last decade, from US$1.7 trillion in 2012 to US$4.5 trillion in 2022," the IFDR report states.

"This growth reflects a healthy industry, driven by strong balance sheets, high profitability, regulatory support, and sustained demand from customers and investors across various regions," it continues.

According to the IFDR, in 2022, approximately 72% of global Islamic finance assets originated from Islamic banking.

Furthermore, 17% came from sukuk, 5% from Islamic funds, 2% from Takaful (Islamic insurance), and 4% from other industries.

Based on asset location, the majority, or 34%, of global Islamic finance assets in 2022 were located in Iran. Indonesia held a 3% share.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."