Indonesia's 9th Largest Islamic Banking Asset Globally in 2023

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Adi Ahdiat 19/12/2024 12:30 WIB

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According to the Islamic Finance Development Indicator report, the value of Islamic banking assets in Indonesia reached US$53 billion in 2023, ranking ninth globally.

Top 10 Countries with the Largest Global Islamic Banking Assets (2023)

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Top 10 Countries with the Largest Global Islamic Banking Assets (2023)

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According to the Islamic Finance Development Indicator (IFDI) report, the value of Islamic banking assets in Indonesia reached US$53 billion in 2023.

This figure represents 1.5% of the total global Islamic banking assets and ranks ninth largest in the world.

The top 5 countries on this list are Iran, Saudi Arabia, Malaysia, the United Arab Emirates, and Kuwait, with asset values as shown in the graph.

Combined, these 5 countries hold 84% of the total global Islamic banking assets in 2023.

Overall, the value of global Islamic banking assets in 2023 reached US$3.57 trillion, a 12% increase compared to 2022.

According to the IFDI, this increase in assets is partly driven by the growing number of countries with Islamic banks.

"The Islamic banking world is expanding with the entry of new countries. Several jurisdictions have their first Islamic banks, increasing the number of countries with Islamic banks to 75," as quoted from the IFDI report.

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."