Saudi Islamic Finance Assets Approximate USD 800 Billion: Saudi Central Bank

The Kingdom of Saudi Arabia’s (KSA) Islamic financial industry currently has total assets of nearly SAR 3 trillion (USD 799.8 billion), representing 28% of the total global Islamic financial assets, according to the Deputy Governor for Research and International Affairs at the Saudi Central Bank (SAMA), Fahad Abdullah Al-Dossari, in a seminar on the 25th of April 2022.

Why it Matters?

The global Islamic finance industry has expanded today, seeing its assets approximating USD 2.7 trillion and achieving annual growth of more than 10%. The Islamic banking sector makes up 68% of this industry, with a volume of USD 1.8 trillion. Total Shariah-compliant financing has reached more than SAR 1.7 trillion (USD 458.5 billion), with an 18% annual growth rat...