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Islamic banking CAGR globally 2018-2020, by function

Compound annual growth rate (CAGR) of Islamic banking worldwide from Q3 2018 to Q3 2020, by function

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Source

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Release date

August 2021

Region

Worldwide

Survey time period

March 2014 to September 2020*

Supplementary notes

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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