(Part of the full ‘State of the Global Islamic Economy Report 2013‘)
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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- Key challenges & specific opportunities
- Convergence opportunities among Islamic economy sectors
- Innovation Imperative
- Centers of the Islamic Economy
- Strategy Frameworks & Checklists
 ThomsonReuters 2013 Islamic Finance Development Report
 Trends in Sharia-Compliant Financial Inclusion, CGAP 2013
 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.
 Organization of Islamic Cooperation – 57 mostly Muslim majority countries
 Total Commercial Banking Assets data from Central Banks; International Monetary Fund. IMF Outlook 2012 Database for projections; DinarStandard Muslim market assessment