While the total assets held by Islamic banks has seen overall annual growth between the March 2014 and the third quarter of of 2020, both financing and deposits have seen declines over this period over this period. For both these services the size of the overall loss rate since March 2014 has shrunk for each of the last three years, with financing seeing a negative compound annual growth rate of -0.3 percent through to Q3 2020, while deposits shrunk -0.4 percent per year over this time. This recovery is led by high year-on-year growth rates of deposits and financing at Islamic banks over the 12 months to Q3 2020.
Compound annual growth rate (CAGR) of Islamic banking worldwide from Q3 2018 to Q3 2020, by function
According to the source, compound annual growth rates have been measured from March 2014 to the end of the quarter specified.
Islamic banks 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). Compound annual growth rate (CAGR) of Islamic banking worldwide from Q3 2018 to Q3 2020, by function [Graph]. In Statista. Retrieved November 03, 2024, from https://www.statista.com/statistics/1264686/islamic-banking-growth-function/
IFSB. "Compound annual growth rate (CAGR) of Islamic banking worldwide from Q3 2018 to Q3 2020, by function." Chart. August 16, 2021. Statista. Accessed November 03, 2024. https://www.statista.com/statistics/1264686/islamic-banking-growth-function/
IFSB. (2021). Compound annual growth rate (CAGR) of Islamic banking worldwide from Q3 2018 to Q3 2020, by function. Statista. Statista Inc.. Accessed: November 03, 2024. https://www.statista.com/statistics/1264686/islamic-banking-growth-function/
IFSB. "Compound Annual Growth Rate (Cagr) of Islamic Banking Worldwide from Q3 2018 to Q3 2020, by Function." Statista, Statista Inc., 16 Aug 2021, https://www.statista.com/statistics/1264686/islamic-banking-growth-function/
IFSB, Compound annual growth rate (CAGR) of Islamic banking worldwide from Q3 2018 to Q3 2020, by function Statista, https://www.statista.com/statistics/1264686/islamic-banking-growth-function/ (last visited November 03, 2024)
Compound annual growth rate (CAGR) of Islamic banking worldwide from Q3 2018 to Q3 2020, by function [Graph], IFSB, August 16, 2021. [Online]. Available: https://www.statista.com/statistics/1264686/islamic-banking-growth-function/
