Indonesia Has the World's 10th Largest Islamic Bank Asset

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Adi Ahdiat 28/08/2024 17:02 WIB

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According to the Islamic Finance Development Report, Indonesia had US$46 billion in Islamic banking assets in 2022, ranking tenth globally.

Top 10 Countries with the Largest Islamic Bank Assets in the World (2022)

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Top 10 Countries with the Largest Islamic Bank Assets in the World (2022)

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According to the Islamic Finance Development Report (IFDR), global Islamic banking assets reached US$3.24 trillion in 2022.

Iran held the largest assets, valued at US$1.3 trillion, representing 40% of the total global Islamic banking assets.

Other countries with the largest Islamic banking assets include Saudi Arabia, Malaysia, the United Arab Emirates, Kuwait, Qatar, Bahrain, Turkey, and Bangladesh.

Indonesia ranked 10th with assets valued at US$46 billion, equivalent to 1.4% of the total global Islamic banking assets.

Assets of banks based on Islamic principles have increased significantly over the past 10 years.

"Islamic banking has been the main driver of the growth of the Islamic finance industry over the past decade," the IFDR report stated.

"Islamic banks remained resilient in the face of market volatility from 2012 to 2022, and recovered from the significant pressures they faced during the Covid-19 pandemic and the economic uncertainty post-2020," it continued.

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."