SAR 500 banknotes
Shariah-compliant finance contracts in Saudi Arabia grew by 13% year-on-year (YoY) to over SAR 2.03 trillion in Q1 2023, data from the Saudi Central Bank (SAMA) showed.
These agreements cover Murabaha, Tawarruq (securitization), finance lease, Mudarabah, Musharaka, among others including credit cards.
|
Shariah-Compliant Finance Agreements* |
||
|
Period |
Value (SAR bln) |
YoY Change |
|
Q1 2020 |
1299.8 |
+13% |
|
Q2 2020 |
1346.3 |
+15% |
|
Q3 2020 |
1402.0 |
+16% |
|
Q4 2020 |
1461.9 |
+17% |
|
Q1 2021 |
1542.1 |
+19% |
|
Q2 2021 |
1612.5 |
+20% |
|
Q3 2021 |
1665.8 |
+19% |
|
Q4 2021 |
1724.3 |
+18% |
|
Q1 2022 |
1790.9 |
+16% |
|
Q2 2022 |
1871.5 |
+16% |
|
Q3 2022 |
1942.2 |
+17% |
|
Q4 2022 |
1977.4 |
+15% |
|
Q1 2023 |
2032.0 |
+13% |
Murabaha and Tawarruq agreements accounted for 89% of total Shariah-compliant financing.
|
Breakdown of Shariah-Compliant Finance Agreements – SAR bln |
|||||||
|
Period |
Murabaha |
Tawarruq |
Finance Lease |
Mudarabah |
Musharaka |
Others* |
Total |
|
Q1 2020 |
492.6 |
583.1 |
207.0 |
1.9 |
1.8 |
16.7 |
1299.8 |
|
Q2 |
513.6 |
599.3 |
217.4 |
1.5 |
1.5 |
16.3 |
1346.3 |
|
Q3 |
535.6 |
624.4 |
224.9 |
1.5 |
1.7 |
17.2 |
1402.0 |
|
Q4 |
562.9 |
643.0 |
231.3 |
1.6 |
1.8 |
21.3 |
1461.9 |
|
Q1 2021 |
609.8 |
655.6 |
252.1 |
1.7 |
1.9 |
21.0 |
1542.1 |
|
Q2 |
708.1 |
696.5 |
183.6 |
1.8 |
1.5 |
20.9 |
1612.5 |
|
Q3 |
748.6 |
703.4 |
184.3 |
1.8 |
1.4 |
26.3 |
1665.8 |
|
Q4 |
779.1 |
749.4 |
169.4 |
1.9 |
1.3 |
23.2 |
1724.3 |
|
Q1 2022 |
825.9 |
768.7 |
169.6 |
1.9 |
1.2 |
23.5 |
1790.9 |
|
Q2 |
968.3 |
692.8 |
177.7 |
2.0 |
1.1 |
29.6 |
1871.5 |
|
Q3 |
1023.7 |
701.2 |
183.0 |
1.8 |
1.2 |
31.2 |
1942.2 |
|
Q4 |
1049.5 |
710.2 |
180.7 |
1.8 |
1.4 |
33.8 |
1977.4 |
|
Q1 2023 |
1076.2 |
732.6 |
187.4 |
1.7 |
1.4 |
32.7 |
2032.0 |
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