Sharia-compliant finance grew by 19% year-on-year (YoY) to SAR 1.665 trillion in Saudi Arabia in Q3 2021, data from the Saudi Central Bank (SAMA) showed.
Sharia-compliant finance agreements cover Murabaja, Tawarruq, finance lease, Mudaraba, Musharaka, and other agreements including credit cards.
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Sharia-Compliant Finance Agreements |
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Period |
Value (SAR bln) |
YoY Variation |
|
Q1 2020 |
1303.0 |
+13% |
|
Q2 2020 |
1349.5 |
+16% |
|
Q3 2020 |
1405.2 |
+17% |
|
Q4 2020 |
1461.9 |
+17% |
|
Q1 2021 |
1542.1 |
+18% |
|
Q2 2021 |
1612.5 |
+19% |
|
Q3 2021 |
1665.8 |
+19% |
Murabaha and Tawarruq agreements accounted for 87% of total Sharia-compliant finance.
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Breakdown of Sharia-Compliant Finance Agreements – SAR bln |
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|
Period |
Murabaha |
Tawarruq |
Finance Leasing |
Mudaraba |
Musharaka |
Other |
Total |
|
Q1 2017 |
457.0 |
444.9 |
175.2 |
3.9 |
3.2 |
23.7 |
1107.9 |
|
Q2 |
463.0 |
442.0 |
177.7 |
3.4 |
3.4 |
23.6 |
1113.0 |
|
Q3 |
391.8 |
517.1 |
182.3 |
3.4 |
2.3 |
27.3 |
1124.2 |
|
Q4 |
388.7 |
505.4 |
179.7 |
3.0 |
2.7 |
29.8 |
1109.4 |
|
Q1 2018 |
384.8 |
504.5 |
180.2 |
2.9 |
2.4 |
31.5 |
1106.2 |
|
Q2 |
383.0 |
514.1 |
183.6 |
5.3 |
2.6 |
31.9 |
1120.6 |
|
Q3 |
389.9 |
521.1 |
188.2 |
2.4 |
2.7 |
35.1 |
1139.3 |
|
Q4 |
392.1 |
522.0 |
194.8 |
2.1 |
2.2 |
32.7 |
1145.9 |
|
Q1 2019 |
405.3 |
524.7 |
199.5 |
2.5 |
2.3 |
16.3 |
1150.6 |
|
Q2 |
410.4 |
528.3 |
206.7 |
2.1 |
2.4 |
17.1 |
1167.1 |
|
Q3 |
450.5 |
538.8 |
194.4 |
2.1 |
2.2 |
17.8 |
1205.7 |
|
Q4 |
472.9 |
562.0 |
195.9 |
1.8 |
1.9 |
17.7 |
1252.3 |
|
Q1 2020 |
492.6 |
583.1 |
207.0 |
1.9 |
1.8 |
16.7 |
1303.0 |
|
Q2 |
513.6 |
599.3 |
217.4 |
1.5 |
1.5 |
16.3 |
1349.5 |
|
Q3 |
535.6 |
624.4 |
224.9 |
1.5 |
1.7 |
17.2 |
1405.2 |
|
Q4 |
562.9 |
643.0 |
231.3 |
1.6 |
1.8 |
21.3 |
1461.9 |
|
Q1 2021 |
609.8 |
655.6 |
252.1 |
1.7 |
1.9 |
21.0 |
1542.1 |
|
Q2 |
708.1 |
696.5 |
183.6 |
1.8 |
1.5 |
20.9 |
1612.5 |
|
Q3 |
748.6 |
703.4 |
184.3 |
1.8 |
1.4 |
26.3 |
1665.8 |
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