Logo of Saudi Central Bank (SAMA)
Shariah-compliant finance contracts in Saudi Arabia rose by 10% year-on-year (YoY) to SAR 2.24 trillion by the end of Q1 2024, data from the Saudi Central Bank (SAMA) showed.
These agreements cover Murabaha, Tawarruq (securitization), finance leasing, Mudarabah and Musharaka, in addition to other contracts, including credit cards and other Shariah-compliant financing instruments.
The table below indicates the development of 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% |
|
Q3 2023 |
2145.9 |
+10% |
|
Q4 2023 |
2181.7 |
+10% |
|
Q1 2024 |
2245.0 |
+10% |
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 |
565.6 |
516.6 |
200.5 |
1.9 |
1.8 |
13.4 |
1299.8 |
|
Q2 |
589.9 |
529.8 |
210.6 |
1.5 |
1.5 |
13.1 |
1346.3 |
|
Q3 |
611.8 |
554.7 |
218.4 |
1.5 |
1.7 |
13.9 |
1402.0 |
|
Q4 |
646.4 |
561.8 |
229.0 |
1.6 |
1.8 |
21.3 |
1461.9 |
|
Q1 2021 |
695.6 |
578.0 |
243.9 |
1.7 |
1.9 |
21.0 |
1542.1 |
|
Q2 |
795.3 |
612.7 |
180.3 |
1.8 |
1.5 |
20.9 |
1612.5 |
|
Q3 |
834.1 |
621.0 |
181.3 |
1.8 |
1.4 |
26.3 |
1665.8 |
|
Q4 |
879.0 |
640.5 |
178.3 |
1.9 |
1.3 |
23.2 |
1724.3 |
|
Q1 2022 |
924.0 |
661.4 |
177.5 |
1.9 |
1.2 |
24.8 |
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 |
|
Q3 |
1130.4 |
779.2 |
198.5 |
1.5 |
1.7 |
34.5 |
2145.9 |
|
Q4 |
1145.5 |
795.5 |
200.9 |
1.7 |
1.9 |
36.3 |
2181.7 |
|
Q1 2024 |
565.6 |
516.6 |
200.5 |
1.9 |
1.8 |
13.4 |
1299.8 |
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