Foundations of Islamic Finance series
Edited by Mervyn K. Lewis, Mohamed Ariff and Shamsher Mohamad
Chapter 11: Major Islamic banking products and markets: a preliminary analysis
Our analysis of Islamic banking is undertaken in this chapter with information from the BankScope database, which is a specialized database of banks with data spanning over 148 Islamic banks from 26 countries. Bahrain is the country with the largest number of Islamic banks (23). It is followed by Malaysia, Iran and Sudan, which have, respectively, 17, 16 and 12 full-licence Islamic banks. Apart from these countries, Islamic banking is found in the United Arab Emirates (UAE) (10 banks), Kuwait (9), Pakistan (9), Qatar (5), Turkey (5), United Kingdom (5), Iraq (4), Saudi Arabia (4), Yemen (4), Bangladesh (3), Brunei Darus Salam (3), Egypt (3), Jordan (3), Lebanon (3), Syria (2), Cayman Islands (1), Gambia (1), Indonesia (1), Mauritania (1), Palestinian Territory (1), Russian Federation (1), Singapore (1) and Tunisia (1). Total assets of all these Islamic banks were estimated in 2011 to be US$ 810 billion. Figure 11.1 is a summary statistic on Islamic banks by number.
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