The total value of the total financial assets of Islamic finance globally increased to $ 2.43 trillion, of which $ 1.72 trillion were assets of Islamic banks and banking. The value of these assets is expected to rise 56% to $ 3.8 trillion by 2023, including $ 2.44 trillion in assets for Islamic banks.
Global Islamic finance is highly concentrated in the Middle East and North Africa (MENA) region, where Gulf Islamic financial markets account for a 40.3% share of the assets of Islamic financial institutions worldwide, the rest of the MENA region holds a 38.6% share of total Islamic financial assets.
Asia accounts for 18.7% of Islamic assets, Africa holds 0.8%, while Europe, America and Australia dominates 1.7% of the total Islamic assets.
The number of Islamic bank customers is 100 million worldwide, yet a significant share of 75.12% of the potential customer base for Islamic finance remains untapped, the sector still has a large absorptive capacity, as it can accommodate more dealers.
Source (Al-Arabi Al-Jadeed Newspaper, Edited)
