Islamic Finance Market Scope
Islamic banking is a banking firm that is based on Islamic principles. Essentially, in Islamic banking, it is not permitted to pay and receive interest but slightly it is based on profit sharing concept. Islamic banks are highly focusing on producing ROI through investment tools. The mission behind this is to take Islamic banking and finance to new elevations through a solid focus on invention and the wish to bring excellence in everything including the growth and offer of a broad and integrated range of products and services that are in perfect harmony with principles.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Citibank (United States), HSBC Bank (United Kingdom), Dubai Islamic Bank (United Arab Emirates), Nasser Social Bank (Egypt), Kuwait Finance House (KFH) (Malaysia), Al Baraka Banking Group (Jordan Islamic Bank) (Bahrain), Bahrain Islamic Bank (Bahrain), Islamic Bank of Iran (United Kingdom), Bank of Ningxia (China), Bank Al-Rajhi (Saudi Arabia), Qatar Islamic Bank (Qatar), Alinma Bank (Saudi Arabia) and Bank Maskan Iran (Iran) |
CAGR | % |
The market is consolidated by various players who are highly focusing on various technologies, enhancement of efficiency, and service life. The growing number of opportunities are can be captured by following the continuing process development and financial elasticity to capitalize on business strategies. Research Analyst at AMA estimates that GCC Players will contribute to the maximum growth of Europe Islamic Finance market throughout the predicted period.
Citibank (United States), HSBC Bank (United Kingdom), Dubai Islamic Bank (United Arab Emirates), Nasser Social Bank (Egypt), Kuwait Finance House (KFH) (Malaysia), Al Baraka Banking Group (Jordan Islamic Bank) (Bahrain), Bahrain Islamic Bank (Bahrain), Islamic Bank of Iran (United Kingdom), Bank of Ningxia (China), Bank Al-Rajhi (Saudi Arabia), Qatar Islamic Bank (Qatar), Alinma Bank (Saudi Arabia) and Bank Maskan Iran (Iran) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Europe Islamic Finance market by Type and Region with country level break-up.
On the basis of geography, the market of Islamic Finance has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In January , 2020 Having secured necessary approvals from the relevant regulatory authorities, Dubai Islamic Bank (DIB) has today announced the completion of the acquisition of and Noor Bank in a transaction structured through a share swap. As part of this agreement, DIB has issued 651,159,198 new shares to take its issued share capital to 7,240,744,377 shares
In December 2023, Tayyib” (pure, wholesome, and impactful) has launched today at GEFI’s Unlocking Islamic Finance Summit, hosted by the Dubai International Finance Centre.
Influencing Trend:
High Adoption in Saudi Arabia Region
Market Growth Drivers:
Growing Acceptance of Mobile Banking and Growing Number of Digital Consumers
Challenges:
Lack of Consumer Awareness
Opportunities:
High Growth Possible for the Countries Including India, With the Presence of Muslim Population and Strong Growth in the Insurance Market
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analyst and Strategic Business Planners, Islamic Finance Services Providers, Government Regulatory and Research Organizations and End-Use Industries