Improving the Role of Eximbanks/ECAs in the OIC Member States
71
Table 5: MEXIM’s Islamic Finance Activities in USD Million
2013
Islamic Banking Assets 410
Credit Takaful Business – Insured Exports 236.4
Credit takaful business – Premium
Contributions
0.328
Comprehensive Takaful Insurance 42.2
Supplier Financing – i 119.7
Term Financing – i 120.1
Overseas Contract Financing – i 4.2
Overseas Project financing – i 170.6
Malaysian Kitchen Financing Facility 5.8
*Source: Malaysia Eximbank Annual Report. 2013
There is ample research more generally on the global Islamic finance sector. In 2012, total
Islamic finance assets reached USD 1.35 trillion with banking assets amounting to USD 985
billion12. This amounts to 1.2% of global banking assets, which were estimated to be USD 123.7
trillion. The top five Islamic finance markets in the same year were Malaysia, Saudi Arabia, Iran,
UAE and Kuwait and together amount to USD 1.06 trillion.
Table 6: Islamic Finance Assets in USD Billion
2012
Islamic Finance Total 1,354
Islamic Banking 985
Takaful (Insurance) 26
Sukuk (Bonds) 251
Islamic Microfinance 0.628
Islamic Funds 44
Source: State of the Global Islamic Economy. 2013. Thomson Reuters
While the current reach of Islamic finance in general is limited, the potential universe of Islamic
banking assets – expected to reach USD 4.1 trillion in 2013 – suggests the demand for Shariah-
compliant instruments from ECAs and Eximbanks operating in OIC countries will only increase.
4.6.6. Advisory or other services
Most OIC ECAs also offer a variety of professional services to supplement their financial product
offerings.
12 State of the Global Islamic Economy. 2013. Thomson Reuters.