Saudi Arabia Islamic Finance Markets, Analysis and Forecasts, 2017-2021 & 2022-2027: Competitive Developments, Expansions, New Product Launches, Mergers & Acquisitions

News provided by

Nov 08, 2022, 13:30 ET

DUBLIN, Nov. 8, 2022 /PRNewswire/ -- The "Saudi Arabia Islamic Finance Market By Financial Sector, By Region, Competition, Forecast & Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering.

Saudi Arabia Islamic finance market is anticipated to grow at an impressive CAGR during the forecast period, 2023-2027

One of the biggest economies in the Middle East is Saudi Arabia, which also leads the global Islamic finance market. Saudi Arabia is trying to become the largest market for Islamic financing. Islamic finance is the practice of banking or financing in accordance with Sharia. Islamic finance frequently uses the Musharaka, Wadiah, Murabahah, Ijara, and Mudarabah payment methods.

The Saudi Arabian government has implemented many programs and policies in an effort to strengthen the nation's financial situation. Saudi Vision 2030 is a move made by the country's top leaders to reduce reliance on the oil industry, diversify sources of income, and grow public resources, including tourism, infrastructure, education, and recreation industry.

The main objective of Saudi Vision 2030 is to expand Saudi capital markets in order to stabilize the economy and achieve sustainable growth during the projection period.

The Saudi Arabia Islamic finance market is segmented into the financial sector, regional distribution, and company. Based on the financial sector, the market is divided into Islamic banking, Islamic insurance, sukuk outstanding, and others. The Islamic banking segment is expected to capture the highest market share in the forecast period, 2023-2027.

In all of the traditional banks in the Kingdom of Saudi Arabia, there are eight Islamic windows in addition to full-fledged Islamic banks. A variety of commercial, wholesale, and other types of banks assist Islamic banks.

The Islamic Development Bank, the only Islamic bank with a AAA rating, is located in Saudi Arabia, one of the countries with the largest Shariah-compliant development banks in the world.

Due to their higher moral standards, consumers choose to use Islamic banks for their financial needs. Islamic banks are accountable to their clients and do not take on significant risks or give large bonuses to their top bankers.

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 the major market players operating in the Saudi Arabia Islamic Finance market.

Objective of the Study:

To analyze the historical growth in the market size of the Saudi Arabia Islamic Finance Market from 2017 to 2021.
To estimate and forecast the market size of Saudi Arabia Islamic Finance Market from 2022 to 2027 and growth rate until 2027.
To classify and forecast the Saudi Arabia Islamic Finance Market based on financial sector, region and company.
To identify the dominant region or segment in the Saudi Arabia Islamic Finance Market.
To identify drivers and challenges for the Saudi Arabia Islamic Finance Market.
To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Saudi Arabia Islamic Finance Market.
To identify and analyze the profiles of leading players operating in the Saudi Arabia Islamic Finance Market.
To identify key sustainable strategies adopted by market players in Saudi Arabia Islamic Finance Market.

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Saudi Arabia Islamic Finance market.