ICD - LSEG Islamic Finance Development Report 2023: Navigating Uncertainty

During the past year, the world's financial industry grappled with an uncertain economy characterised by volatile international commodity prices and a global supply chain that had not quite returned to pre-pandemic stability, both of which combined to push up inflation levels.

The total Islamic finance assets grew by 11% to US$ 4.5 trillion in 2022, supported mainly by growth in banking sector and sukuk market. During the past year, the world's financial industry grappled with an uncertain economy characterised by volatile international commodity prices and a global supply chain that had not quite returned to pre-pandemic stability, both of which combined to push up inflation levels.

The IFDI report assesses the global industry's performance during 2022 and demonstrate the transformation of the Islamic finance industry in the decade from a niche market to mainstream in many countries and regions. The underlying indicator for the report drives the analysis from 136 countries statistics around the world across five indicators financial performance, governance, knowledge, sustainability, and awareness.

The report is launched in partnership with the Islamic Corporation for the Development of Private Sector (ICD) of the Islamic Development Bank Group.

Access the full report to find out more about:

Up-to-date statistics on the global Islamic finance industry and its projected growth
Main markets and trends impacting the Islamic finance industry
Most-developed countries in Islamic finance according to IFDI 2023

ACCESS FULL REPORT

Releasing the new IFDI Islamic Finance Database for 2022 - 2023

LSEG Workspace users can access the underlying data for the Islamic Finance Development Indicator app. The database is comprehensive and can be downloaded in Excel sheet format with the details of every Islamic institution that discloses its financials with a dollar-by-dollar breakdown of the industry.

The data includes over 1,600 Islamic financial institutions including Islamic banks and takaful operators along with sukuk, Islamic funds and Shariah scholar for different countries around the globe.

Click here to access the IFDI page and the global Islamic finance database in Workspace.

Learn more: Islamic Finance

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