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Shariah-compliant finance contracts in Saudi Arabia rose by 10% year-on-year (YoY) to SAR 2.18 trillion in Q4 2023, data from the Saudi Central Bank (SAMA) showed.
These agreements cover Murabaha, Tawarruq (securitization), finance leasing, Mudarabah and Musharaka, amongst others, including credit cards.
The table below indicates the development of Shariah-compliant finance contracts in Saudi Arabia:
|
Shariah-Compliant Finance Contracts* |
||
|
Period |
Value (SAR bln) |
YoY Change |
|
Q1 2020 |
1299.8 |
+13% |
|
Q2 2020 |
1346.3 |
+15% |
|
Q3 2020 |
1402.0 |
+16% |
|
Q4 2020 |
1461.9 |
+17% |
|
Q1 2021 |
1542.1 |
+19% |
|
Q2 2021 |
1612.5 |
+20% |
|
Q3 2021 |
1665.8 |
+19% |
|
Q4 2021 |
1724.3 |
+18% |
|
Q1 2022 |
1790.9 |
+16% |
|
Q2 2022 |
1871.7 |
+16% |
|
Q3 2022 |
1942.4 |
+17% |
|
Q4 2022 |
1976.5 |
+15% |
|
Q1 2023 |
2032.0 |
+13% |
|
Q2 2023 |
2079.2 |
+11% |
|
Q3 2023 |
2145.9 |
+10% |
|
Q4 2023 |
2181.7 |
+10% |
*Data is updated periodically.
Murabaha and Tawarruq agreements accounted for 89% of total Shariah-compliant financing, as follows:
|
Breakdown of Shariah-Compliant Financing (SAR bln) |
|||||||
|
Period |
Murabaha |
Tawarruq |
Finance Lease |
Mudarabah |
Musharaka |
Others* |
Total |
|
Q1 2020 |
492.6 |
583.1 |
207.0 |
1.9 |
1.8 |
16.7 |
1299.8 |
|
Q2 |
513.6 |
599.3 |
217.4 |
1.5 |
1.5 |
16.3 |
1346.3 |
|
Q3 |
535.6 |
624.4 |
224.9 |
1.5 |
1.7 |
17.2 |
1402.0 |
|
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 |
|
Q4 |
779.1 |
749.4 |
169.4 |
1.9 |
1.3 |
23.2 |
1724.3 |
|
Q1 2022 |
825.9 |
768.7 |
169.6 |
1.9 |
1.2 |
23.5 |
1790.9 |
|
Q2 |
968.3 |
692.8 |
177.7 |
2.0 |
1.1 |
29.8 |
1871.7 |
|
Q3 |
1023.6 |
701.2 |
183.0 |
1.8 |
1.2 |
31.6 |
1942.4 |
|
Q4 |
1049.5 |
709.6 |
180.7 |
1.8 |
1.4 |
33.4 |
1976.5 |
|
Q1 2023 |
1076.2 |
732.6 |
187.4 |
1.7 |
1.4 |
32.7 |
2032.0 |
|
Q2 |
1097.1 |
754.4 |
191.5 |
1.7 |
1.6 |
32.9 |
2079.2 |
|
Q3 |
1130.4 |
779.2 |
198.5 |
1.5 |
1.7 |
34.5 |
2145.9 |
|
Q4 |
1145.5 |
795.5 |
200.9 |
1.7 |
1.9 |
36.3 |
2181.7 |
*Includes credit cards and other Shariah-compliant financing forms
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