Figure 2
The figure shows 10 line graphs, in three rows. Each graph has the horizontal axis ranging from 2010 to 2023 in increments of one year. In each graph, two lines are shown for “Islamic banks” and “Conventional banks”. The trend for each graph is as follows: Row 1: The first graph in row 1 is labeled “Bahrain”. The vertical axis ranges from 0 to 120 in increments of 20. The line for “Islamic Banks” starts at (2010, 14.8), increases in an upward trend with small peaks at (2013, 31.7), (2020, 79.8), and ends at (2023, 101.6). The line for “Conventional banks” starts at (2010, 19.33), increases with an upward trend, with a small peak at (2019, 58.5), and ends at (2023, 76.8). The second graph in row 1 is labeled “Egypt”. The vertical axis ranges from 0 to 350 in increments of 50. The line for “Islamic Banks” begins near (2010, 30), and rises steadily, passing through (2014, 40), (2018, 50), and ends at (2023, 98). The line for “Conventional Banks” begins at (2010, 50), rises to (2015, 100), and continues upward, passing through (2020, 200), and ends at (2023, 300). The third graph in row 1 is labeled “United Arab Emirates”. The vertical axis ranges from 0 to 80 in increments of 10. The line for “Islamic Banks” starts at (2010, 9), rises to (2013, 15), and continues to (2019, 42). It rises sharply to (2020, 62) and ends at (2023, 72). The line for “Conventional Banks” starts at (2010, 15), rises gradually through (2014, 24), (2015, 38), continues to (2020, 47), and ends at (2023, 48). The fourth graph in row 1 is labeled “Jordan”. The vertical axis ranges from 0 to 100 in increments of 10. The line for “Islamic Banks” starts at (2010, 12), rises to (2015, 25), continues sharply upward to (2020, 80), and ends at (2023, 92). The line for “Conventional Banks” starts at (2010, 12), rises gradually to (2015, 21), continues to (2017, 35), and ends at (2023, 45). Row 2 The first graph in row 2 is labeled “Kuwait”. The vertical axis ranges from 0 to 160 in increments of 20. The line for “Islamic Banks” begins at (2010, 16), rises through (2013, 21), (2018, 41), rises sharply, (2019, 62), and ends at (2023, 89). The line for “Conventional Banks” begins around (2010, 17), rises through (2016, 61), (2019, 80), and ends at (2023, 156). The second graph in row 2 is labeled “Pakistan”. The vertical axis ranges from 0 to 140 in increments of 20. The line for “Islamic Banks” begins at (2010, 3), rises through (2015, 57), (2020, 107), and ends at (2023, 123). The line for “Conventional Banks” begins at (2010, 18), rises steadily through (2017, 37), (2020, 51), and ends at (2023, 59). The third graph in row 2 is labeled “Qatar”. The vertical axis ranges from 0 to 140 in increments of 20. The line for “Islamic Banks” begins at (2010, 25), rises gradually through (2016, 46), (2020, 95), and ends at (2023, 123). The line for “Conventional Banks” begins around (2010, 24), increases through (2014, 51), (2020, 105), and ends at (2023, 125). The fourth graph in row 2 is labeled “Saudi Arabia”. The vertical axis ranges from 0 to 200 in increments of 20. The line for “Islamic Banks” begins at (2010, 27), rises through (2016, 47), (2020, 96), and ends at (2023, 122). The line for “Conventional Banks” begins at (2010, 28), rises steeply through (2013, 56), (2019, 159), and ends at (2023, 182). Row 3 The first graph in row 3 is labeled “Tunisia”. The vertical axis ranges from 0 to 90 in increments of 10. The line for “Islamic Banks” begins at (2010, 5), rises gradually through (2016, 19), continues to (2019, 36), and ends near (2023, 62). The line for “Conventional Banks” begins at (2010, 16), rises through (2014, 22), (2019, 58), and ends at (2023, 78). The second graph in row 3 is labeled “Turkey”. The vertical axis ranges from 0 to 700 in increments of 100. The line for “Islamic Banks” begins near (2010, 21), rises slightly through (2017, 12), and ends at (2023, 92). The line for “Conventional Banks” begins near (2010, 32), increases slowly through (2014, 120), (2017, 215), rises sharply and ends at (2023, 581).Evolution of the FinTech index in conventional and Islamic banks across MENA countries (2011–2023). Note: This figure shows the comparative evolution of FinTech development in conventional (blue line) and Islamic (red line) banks across MENA countries from 2010 to 2023. The index is normalized to 100 in 2010 to ensure cross-country comparability. Data are constructed from bank-level indicators reflecting digital innovation and technological advancement