Infrastructure Financing through Islamic
Finance in the Islamic Countries
65
Chart 3.18: Distribution of Takaful Operators and Assets (USD billion)
Source: ICD & TR (2017)
In order to have an understanding of the contribution of the takaful sector in infrastructure
investments, Chart 3.19 shows the distribution of their investments in the GCC region.
Although a significant part of the investments is in the other category, more than one-fifth
(22%) of the investments of takaful operators are in government bonds and sukuk. A
significant amount of assets (17%) are held as cash and 16% are invested in funds. Although
some of the investments in sukuk can possibly be related to infrastructure, there is no clear
indication of the takaful sector’s investments in these projects.
Chart 3.19: Distribution of Investments by Takaful Operators in GCC (%)
Source: Global Advisors World Takaful Report 2016
18.902 11.591 10.491 1.02 0.521 0.008 0.003
94
75
88
44
16 17
3 2
0
10
20
30
40
50
60
70
80
90
100
0
2
4
6
8
10
12
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16
18
20
GCC Other MENA Southeast
Asia
South Asia Europe Sub-Saharan
Africa
Americas Other Asia
No. of takaful operators
USD (billion)
Takaful Assets No. of Takaful Operators/Windows
17%
3%
22%
7% 16%
35%
Cash Equities Government and other sukuk Properties Funds/Unit Trust Others