Table I.

Basic statistics on Islamic banking

CountryPopulation (millions)Muslim population (%)GNI per capita 2013 (USD)Islamic banking market share (%) (2014)Islamic banking global market share (%) (2014)National Sharīʿah BoardIslamic bank level Sharīʿah boardAAOIFI accounting standards
Bahrain1.381.2021,05029.301.60ExistsRequiredRequired
Indonesia257.5688.13,5113.72.5ExistsRequiredNot required
Kuwait3.8986.4052,00045.2010.10NonebRequiredNot required
Malaysia30.3361.410,55121.315.5ExistsRequiredNot required
Oman4.4987.7016,8707.5aN/ANoneRequiredNot required
Qatar2.2377.5089,95025.808.10NoneRequiredRequired
Saudi Arabia31.5497.1025,14051.2033NoneOptionalNot required
Turkey78.6698.6010,2605.505.10NoneOptionalNot required
United Arab Emirates (UAE)9.1576.0043,86021.6015.40ExistsRequiredRequired
United Kingdom (UK)65.104.642,350<1<1NoneOptionalNot required

Notes:

aOman Islamic Bank market share is 2015 data; bFatwa Board in the Ministry of Awqaf handles Sharīʿah-related disputes

Source: Data derived from EY Islamic Bank Competitiveness Report 2016, World Bank and Sesric databases

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