Saudi Arabia Islamic finance
market is anticipated to grow at an impressive CAGR for the forecast period,
2022-2026. Saudi Arabia is considered one of the largest economies in the
Middle East region and is the leading Islamic finance industry across the world
and is working towards making Saudi Arabia the leader of the Islamic Finance
market. The oil and natural gas industry is the major revenue-generating
industry in the country, and it also has the presence of several mineral
deposits. The continuous efforts made by the leading authorities to generate
new income sources to boost the economy of the country and reduce the financial
dependence solely on the oil and natural gas industry is expected to create
potential growth for the Saudi Arabia Islamic finance market due to the high
demand for digital services. The Kingdom of Saudi Arabia is considered one of
the most special places by Muslims around the globe as it is the land of two
main holy places that witness huge footfall every year. Accessibility to three
major regions across the globe, including Asia-pacific, Europe, and Africa, is
one of the major reasons for high economic growth in the Middle East region.
Islamic Finance can be
defined as the banking or financing activity that complies with Sharia and its
practical application through the development of Islamic finances. The common
modes of Islamic Finance include Musharaka, Wadiah, Murabahah, Ijara, and
Mudarabah.
Supportive Government
Initiatives Supports the Market Growth
The Saudi Arabia’s government
is making efforts to improve the financial status of the country by introducing
different schemes and policies. The launch of Saudi Vision 2030 is an
initiative taken by the leading authorities to lower the dependence on the oil
industry, diversify income sources, and develop public sources such as tourism,
education, health, infrastructure, and recreation sectors. It is also expected
to reinforce the economic activities in the region and boost the non-oil
industry trade between the countries through consumer goods and increase the
government spending on manufacturing equipment, ammunition, and military. For
improving the economic status of the country, the official government
introduced several reform programs, including the Financial Sector Development
Program to strengthen its economic position around the globe which is expected
to create lucrative opportunities for the Saudi Arabia Islamic finance market
in the forecast period.
Rapid Infrastructural
Development Spurs the Market Growth
The development of the
advanced infrastructure, new markets, and new products and services in the
region is creating opportunities for the economic growth of the country. With
the improvement of the financial conditions of Saudi Arabia, the market is open
for foreign investments for the development of the country. The market in Saudi
Arabia is one of the emerging markets attracting a lot of investors from around
the world. Saudi Vision 2030 majorly aims to develop the Saudi capital markets
to stabilize the economy and achieve sustainable growth in the forecast period.

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Market Segmentation
The Saudi Arabia Islamic finance
market is segmented on the basis of financial sector regional
distribution, and company. Based on the financial sector, the market is
divided into Islamic banking, Islamic insurance, sukuk outstanding, and others.
To analyze the market based on the region, the Saudi Arabia Islamic Finance
market is studied in major regions namely North & Central region, Southern
region, Western region, and Eastern region.
Market Players
The Saudi National Bank, The
Al Rajhi Bank, The Saudi British Bank, Riyad Bank, The Saudi American Bank,
Banque Saudi Fransi, Arab National Bank, Alinma Bank, Al Bilad Bank, Bank
Aljazira, are among the major market players in the Saudi Arabia platform that
lead the market growth of the Saudi Arabia Islamic Finance market.
Attribute
|
Details
|
Base Year
|
2020
|
Historic Data
|
2016 – 2019
|
Estimated Year
|
2021
|
Forecast Period
|
2022 – 2026
|
Quantitative Units
|
Revenue in USD Million, and CAGR for 2016-2020 and 2021-2026
|
Report Coverage
|
Revenue forecast, company share, competitive landscape, growth
factors, and trends
|
Segments Covered
|
·
Financial
Sector
|
Regional Scope
|
Northern & Central, Southern, Eastern, Western
|
Key Companies Profiled
|
The Saudi National Bank, The Al Rajhi
Bank, The Saudi British Bank, Riyad Bank, The Saudi American Bank, Banque
Saudi Fransi, Arab National Bank, Alinma Bank, Al Bilad Bank, Bank Aljazira
|
Customization Scope
|
10% free report customization with purchase. Addition or
alteration to regional & segment scope.
|
Pricing And Purchase Options
|
Avail customized purchase options to meet your exact research
needs. Explore purchase options
|
Delivery Format
|
PDF and Excel through Email (We can also provide the editable
version of the report in PPT/Word format on special request)
|
Report Scope:
In this report, Saudi Arabia Islamic
Finance market has been segmented into following categories, in addition to the
industry trends which have also been detailed below:
- Saudi Arabia Islamic
Finance Market, By Financial Sector:
- Islamic Banking
- Islamic Insurance
- Sukuk Outstanding
- Others
- Saudi Arabia Islamic
Finance Market, By Region:
- Northern & Central
- Southern
- Eastern
- Western
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in Saudi Arabia Islamic Finance market.
Available Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to
five).
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Finance Market is an upcoming report to be released soon. If you wish an early
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