National and Global Islamic Financial Architecture:
Problems and Possible Solutions for the OIC Member Countries
34
Chart ‎2.16: Global Islamic Financial Sector -Islamic Financial Institutions (2014)
Source: Calculated from ICD and TR (2015)
Chart 2.17 shows the Islamic banking sector in different regions of the world. With 89 Islamic
banks holding assets worth USD 680.4, GCC leads the regions followed by non-GCC MENA
countries that have 83 Islamic banks managing USD 404.8 billion assets. Islamic banking assets
in South East Asia are worth up to USD 195.7 billion held by 71 countries, and 49 Islamic banks
in South Asia hold assets worth USD 35 billion. The rest of the world has 5 Islamic banks
holding USD 11.1 billion assets.
Chart ‎2.17: Islamic Banking in Different Regions
Source: Calculated from data provide in ICD and TR (2015)
Chart 2.18 shows that the takaful/retakaful sector is also largest in the GCC and has 101
companies with assets of USD 15.08 billion. South East Asia has the second largest takaful
1.814,1
1.345,9
33,4 83,9
1.143
436
308 399
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Islamic Finance
Assets
Islamic Banking
Assets
Takaful/Retakaful Other Financial
Institutions
No. of Institutions
UDUSD (bn.)
Assets (US$ bn) Financial Institutions
680,4
404,8
195,7
35,0 11,1
89 83
71
49
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GCC Non GCC
MENA
South East
Asia
South Asia ROW
No. of banks UDUSD (bn.)
Islamic Banking Assets No. of Islamic Banks/ Windows