Infrastructure Financing through Islamic
Finance in the Islamic Countries
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Charter under Vision 2030 provides the direction of the financial sector from 2016 to 2020.
The goal is to expand the size of the financial sector from SAR 4.7 trillion in 2016 to SAR 6.3
trillion (USD 1.68 trillion) in 2020.
Chart 4.4. 2: Financial Sector Size in Saudi Arabia (2016) (SAR trillion)
Source: Saudi Vision Financial Sector Development Program Charter Delivery Plan 2020 (p. 14)
Chart 4.4. 3: Composition of Financial Institutions in Saudi Arabia (2016) (%)
Source: IMF (2017:8)
Chart 4.4.4 shows the different sectors of the Islamic financial industry in Saudi Arabia which
form a significant part of the overall financial industry in the country. Among the financial
institutions, the Islamic banking sector dominates the industry with assets valued at USD
371.23 billion. The takaful sector assets are worth USD 15.12 billion, followed by other Islamic
financial institutions that have assets valued at USD 13.16 billion. Sukuk forms a significant
part of the sector with the value of issuances in 2016 being USD 52.55 billion and the Islamic
funds industry being worth USD 20.60 billion.
0
1
2
3
4
5
Financial sector assets Banks & financial
institutions
Capital (equity and
bebt) market assets
4.7
2.8
1.9
SAR trillion
0%
10%
20%
30%
40%
50%
60%
Commercial
banks
Pension funds Specialized
credit
institutions
Investment
funds
Other
51%
26%
19%
2% 2%
Percentage