Gulf Cooperation Council states accounted for almost half the the total assets held in the Islamic financial services industry in 2020. South East Asia was the second most important region in this industry, accounting for around half the total assets, while the Middle East and South Asia accounted about one fifth. All up, the total assets of the Islamic financial services industry were 2.7 trillion U.S. dollars in 2020.
Distribution of assets of Islamic financial services worldwide in 2020, by region
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Share of total assets
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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 16, 2021). Distribution of assets of Islamic financial services worldwide in 2020, by region [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1264598/islamic-financial-services-asset-share-region/
IFSB. "Distribution of assets of Islamic financial services worldwide in 2020, by region." Chart. August 16, 2021. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1264598/islamic-financial-services-asset-share-region/
IFSB. (2021). Distribution of assets of Islamic financial services worldwide in 2020, by region. Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1264598/islamic-financial-services-asset-share-region/
IFSB. "Distribution of Assets of Islamic Financial Services Worldwide in 2020, by Region." Statista, Statista Inc., 16 Aug 2021, https://www.statista.com/statistics/1264598/islamic-financial-services-asset-share-region/
IFSB, Distribution of assets of Islamic financial services worldwide in 2020, by region Statista, https://www.statista.com/statistics/1264598/islamic-financial-services-asset-share-region/ (last visited July 22, 2024)
Distribution of assets of Islamic financial services worldwide in 2020, by region [Graph], IFSB, August 16, 2021. [Online]. Available: https://www.statista.com/statistics/1264598/islamic-financial-services-asset-share-region/