2016 has been another year of slowdown for the global Islamic Financial Services Industry (IFSI) – in USD terms, the size of the IFSI has not changed much over the last year: The total Islamic banking assets increased from USD 1.4 trillion to USD 1.5 trillion, the volume of ṣukūk outstanding increased (USD 318.5 billion), but Islamic funds’ assets decreased (USD 56 billion); takāful contributions increased slightly (USD 25 billion). However, the dynamics of the IFSI is not visible on the level of global aggregates. Therefore, analyses have to focus on the regional composition of aggregates and into Islamic Finance achievements and setbacks in individual jurisdictions. This report provides analyses on the global, regional and jurisdictional level.
This report is by Islamic Financial Services Board.