Just over two thirds of the total assets of the global Islamic financial services industry were held by Islamic banks in 2021, amounting to 2.1 trillion U.S. dollars. The second highest category was outstanding "sukuk", which are similar to bonds but structured in a way to avoid interest payments, so as to comply with Islamic religious law. "Takaful", which are similar to insurance products, are the smallest segment of the Islamic financial services industry.
Assets of Islamic financial services worldwide in 2021, by sector
(in billion U.S. dollars)
Islamic financial services 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
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IFSB. (August 28, 2022). Assets of Islamic financial services worldwide in 2021, by sector (in billion U.S. dollars) [Graph]. In Statista. Retrieved November 13, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/1264563/islamic-financial-services-assets-sector/
IFSB. "Assets of Islamic financial services worldwide in 2021, by sector (in billion U.S. dollars)." Chart. August 28, 2022. Statista. Accessed November 13, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1264563/islamic-financial-services-assets-sector/
IFSB. (2022). Assets of Islamic financial services worldwide in 2021, by sector (in billion U.S. dollars). Statista. Statista Inc.. Accessed: November 13, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1264563/islamic-financial-services-assets-sector/
IFSB. "Assets of Islamic Financial Services Worldwide in 2021, by Sector (in Billion U.S. Dollars)." Statista, Statista Inc., 28 Aug 2022, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1264563/islamic-financial-services-assets-sector/
IFSB, Assets of Islamic financial services worldwide in 2021, by sector (in billion U.S. dollars) Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1264563/islamic-financial-services-assets-sector/ (last visited November 13, 2024)
Assets of Islamic financial services worldwide in 2021, by sector (in billion U.S. dollars) [Graph], IFSB, August 28, 2022. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/1264563/islamic-financial-services-assets-sector/
