Financial Outlook of the OIC Member Countries 2016
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international level, Malaysia is the worldwide pioneer in Islamic financial services industry.
Although UK, USA and Sri Lanka have worse score in 2016 according to 2015, it is quite
remarkable that 3 non-OIC countries, find place in the top 20 countries.
Table 7: Adjusted IFCI Scores of top 20 Countries
Countries
IFCI Rank
2016
IFCI Rank
2015
IFCI Rank
2011
Changes
according to
2015
Changes
according to
2011
Malaysia 1 2 2 1 1
Iran 2 1 1 -1 -1
Saudi Arabia 3 3 3 0 0
United Arab Emirates 4 4 7 0 3
Kuwait 5 5 5 0 0
Indonesia 6 7 4 1 -2
Qatar 7 8 13 1 6
Bahrain 8 6 8 -2 0
Pakistan 9 10 6 1 -3
Bangladesh 10 11 9 1 -1
Sudan 11 9 10 -2 -1
Egypt 12 13 12 1 0
Turkey 13 12 14 -1 1
Jordan 14 15 19 1 5
United Kingdom 15 14 15 -1 0
Oman 16 19 -- 3 --
Brunei Darussalam 17 17 19 0 2
United States of America 18 16 14 -2 -4
Sri Lanka 19 18 22 -1 3
Lebanon 20 21 18 1 -2
Soruce: GIFR 2016
Participation Banking Sector 4.2
As the largest segment of the global Islamic finance industry, the total asset of the sector is
estimated as- approximately- 1.6 trillion USD in 2015 (GIFR, 2016). The participation banking
sector has achieved systemic importance4 in 11 out of 57 member countries (IFSB, 2016).
4 Islamic Financial Stability Report 2016 considers the Islamic financial sector as being systemically important when the
total Islamic banking assets in a country comprise more than 15% of its total domestic banking sector assets.