COMCEC Financial Outlook 2018
20
Figure 13: Breakdown of IFSI by Region
Source: IFSB 2018
Islamic banking has been the dominant segment of the industry with a 76% share of the
industry’s total assets. Sukuk market, Islamic funds and Takaful market represented 19.51%,
3.25% and 1.27% of the Islamic finance industry respectively in 2017.
Figure 14: Breakdown of IFSI by Islamic Finance Segments
Source: IFSB 2018
2.3 Islamic Banking
Islamic banking sector had 76% of the industry’s total assets that valued at USD 1.56 trillion in
2017. Islamic banking assets increased in across all major regions, including the GCC, MENA (ex.
GCC) and Asia.
In January 2018, Islamic banking was also introduced in South America, following the successful
conversion of a conventional secondary bank in Suriname to a full-fledged Islamic bank. With
this, Islamic banking products are now offered across all six habitable continents of the world.
Asia; 24,4
GCC; 42,0
Mena (ex-GCC);
29,1
Africa (ex-North
Africa); 1,5
Others; 3,0
Islamic Banking;
76,0
Sukuk; 19,5
Islamic Funds; 3,3 Takaful; 1,3