Islamic Finance – State of the Global Islamic Economy Report 2013

(Part of the full ‘State of the Global Islamic Economy Report 2013‘)


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The existing Islamic Finance market stands at an estimated $1.35 trillion in assets covering commercial banking, funds, sukuks, takaful, and other segments1.  While this represents a very small proportion of global financial assets, it is a fast growing segment growing at 15-20% a year in many of its core markets.  In addition, an estimated $628 million2 of Islamic Microfinance assets is also a growing segment although representing about 0.8% of the estimated total global microfinance market of $78 billion (2011.) 

Assuming an optimal scenario3 in core Islamic Finance markets of the OIC countries4, the 2012 potential Islamic Banking universe could be $4,095 billion in assets.  Current Islamic banking assets amount to $985 billion5, comprising less than 1% of global assets.  China leads in total banking assets with its $21,550 billion asset base in 2012.

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Download the full free Report here (PDF 18 MB).

 Additionally, for the Islamic Finance sector, the Report covers:
  • Key challenges & specific opportunities
  • Convergence opportunities among Islamic economy sectors
  • Innovation Imperative
  • Centers of the Islamic Economy
  • Strategy Frameworks & Checklists

Other sector highlights:  Food & Beverage;  Islamic Finance;  Travel;  Fashion;  Media/ Recreation;  Pharmaceutical;  Cosmetics/ Personal care

 


[1] ThomsonReuters 2013 Islamic Finance Development Report
[2] Trends in Sharia-Compliant Financial Inclusion, CGAP 2013
[3] The optimal scenario assumes full regulatory support for Islamic finance in OIC markets and a 100% Islamic banking penetration with the proportionate Muslim demographic of OIC countries.
[4] Organization of Islamic Cooperation – 57 mostly Muslim majority countries
[5] Total Commercial Banking Assets data from Central Banks; International Monetary Fund. IMF Outlook 2012 Database for projections; DinarStandard Muslim market assessment

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