Islamic finance hits SAR 2.07T in Q2: SAMA

26/11/2023 Argaam Special
Saudi Arabian banknotes

Saudi Arabian banknotes


Shariah-compliant finance contracts in Saudi Arabia grew by 11% year-on-year (YoY) to over SAR 2.079 trillion in Q2 2023, data from the Saudi Central Bank (SAMA) showed.

 

These agreements cover Murabaha, Tawarruq (securitization), finance lease, Mudarabah, Musharaka, amongst others including credit cards.

 

The table below indicates the development in Shariah-compliant finance contracts in Saudi Arabia:

 

Shariah-Compliant Finance Contracts*

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

1871.7

+16%

Q3 2022

1942.4

+17%

Q4 2022

1976.5

+15%

Q1 2023

2032.0

+13%

Q2 2023

2079.2

+11%

*Data is updated regularly

 

 

Murabaha and Tawarruq agreements accounted for 89% of total Shariah-compliant financing, as follows:

 

Breakdown of Shariah-Compliant Financing (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

29.8

1871.7

Q3

1023.6

701.2

183.0

1.8

1.2

31.6

1942.4

Q4

1049.5

709.6

180.7

1.8

1.4

33.4

1976.5

Q1 2023

1076.2

732.6

187.4

1.7

1.4

32.7

2032.0

Q2

1097.1

754.4

191.5

1.7

1.6

32.9

2079.2

*Includes credit cards and other Shariah-compliant financing forms

 

Details and Historical Data of Banks' Key Indicators

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