Shariah-compliant finance up 17% to SAR 1.94 trln in Q3 2022: SAMA

Saudi Arabian banknotes

Shariah-compliant finance contracts in Saudi Arabia grew by 17% year-on-year (YoY) to SAR 1.94 trillion in Q3 2022, data from the Saudi Central Bank (SAMA) showed.

These agreements cover Murabaha, Tawarruq, financial lease, Mudaraba, Musharaka, among others including credit cards.

Shariah-Compliant Finance Agreements
Period	Value (SAR bln)	YoY Change
Q1 2020	1,299.8	+13%
Q2 2020	1,346.3	+15%
Q3 2020	1,402.0	+16%
Q4 2020	1,461.9	+17%
Q1 2021	1,542.1	+19%
Q2 2021	1,612.5	+20%
Q3 2021	1,665.8	+19%
Q4 2021	1,724.3	+18%
Q1 2022	1,790.9	+16%
Q2 2022	1,871.5	+16%
Q3 2022	1,942.2	+17%

*Data is updated on a regular basis

Murabaha and Tawarruq agreements accounted for 89% of total Shariah-compliant financing. The following table shows a breakdown of Shariah-compliant finance agreements:

Breakdown of Shariah-Compliant Finance Agreements (SAR bln)
Period	Murabaha	Tawarruq	Financial Lease	Mudaraba	Musharaka	Others*	Total
Q1 2020	492.6	583.1	207.0	1.9	1.8	16.7	1,299.8
Q2	513.6	599.3	217.4	1.5	1.5	16.3	1,346.3
Q3	535.6	624.4	224.9	1.5	1.7	17.2	1,402.0
Q4	562.9	643.0	231.3	1.6	1.8	21.3	1,461.9
Q1 2021	609.8	655.6	252.1	1.7	1.9	21.0	1,542.1
Q2	708.1	696.5	183.6	1.8	1.5	20.9	1,612.5
Q3	748.6	703.4	184.3	1.8	1.4	26.3	1,665.8
Q4	779.1	749.4	169.4	1.9	1.3	23.2	1,724.3
Q1 2022	825.9	768.7	169.6	1.9	1.2	23.5	1,790.9
Q2 2022	968.3	692.8	177.7	2.0	1.1	29.6	1,871.5
Q3 2022	1,023.7	701.2	183.0	1.8	1.2	31.2	1,942.2

*Includes credit cards and other Shariah-compliant financing agreements forms.

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