Saudi Arabia and Malaysia accounted for almost two thirds of the total assets held by Islamic funds in 2021. Jersey was the next largest, with 13.4 percent, while no other single country accounted for more that five percent. However, this list refers to where the funds are domiciled, meaning that the investors who own shares in the fund may not necessarily live in the same country.
Distribution of assets of Islamic funds worldwide in 2021, by country of domicile
Islamic funds are structured so as to comply with Islamic religious law (Sharia). Typically, Sharia is understood to prohibit investments in:
conventional financial services or debt instruments which earn income through interest or excess
businesses which engage in activities forbidden by Sharia, such alcohol and gambling
speculative transactions
For the purposes of regional classification, Iran is included in “MESA”, North African countries are included in “Africa”, and Turkey is included in “Others”.
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IFSB. (August 28, 2022). Distribution of assets of Islamic funds worldwide in 2021, by country of domicile [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/1264393/islamic-fund-assets-share-country/
IFSB. "Distribution of assets of Islamic funds worldwide in 2021, by country of domicile." Chart. August 28, 2022. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/1264393/islamic-fund-assets-share-country/
IFSB. (2022). Distribution of assets of Islamic funds worldwide in 2021, by country of domicile. Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/1264393/islamic-fund-assets-share-country/
IFSB. "Distribution of Assets of Islamic Funds Worldwide in 2021, by Country of Domicile." Statista, Statista Inc., 28 Aug 2022, https://www.statista.com/statistics/1264393/islamic-fund-assets-share-country/
IFSB, Distribution of assets of Islamic funds worldwide in 2021, by country of domicile Statista, https://www.statista.com/statistics/1264393/islamic-fund-assets-share-country/ (last visited November 21, 2024)
Distribution of assets of Islamic funds worldwide in 2021, by country of domicile [Graph], IFSB, August 28, 2022. [Online]. Available: https://www.statista.com/statistics/1264393/islamic-fund-assets-share-country/