Countries That are the Biggest Halal Financers Globally

Islamic financers have increased by 13.9% in 2019 from $2.52 trillion to $2.88 trillion. Due to the impact of the COVID-19 crisis, the value of Islamic finance assets is expected to show no growth in 2020. However, Islamic expected to rebound and grow at a 5-year CAGR of 5% from 2019 onwards to reach $3.69 trillion by 2024.

The countries that increased the Islamic financing includes:

• Iran by $698.2 billion
• Saudi Arabia by $629.4 billion
• Malaysia by $570.5 billion
• UAE by $234.2 billion
• Qatar by $143.9 billion
• Kuwait by $ 132.3 billion
• Indonesia by $99.2 billion
• Bahrain by $95.6 billion
• Turkey by 62.9 billion