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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