Editing Islamic banking and finance (section)

===Size and locations===

{| class="wikitable floatright" 
|+ id="market-share-table-caption" | Percentage of world market share of Islamic banking industry by country, 2014<ref name="ey-2016">{{cite web|title=World Islamic Banking Competitiveness Report 2016. Participation industry footprint|url=http://www.ey.com/Publication/vwLUAssets/ey-world-islamic-banking-competitiveness-report-2016/$FILE/ey-world-islamic-banking-competitiveness-report-2016.pdf|website=ey.com|access-date=21 September 2016|page=12|archive-date=19 June 2018|archive-url=https://web.archive.org/web/20180619000548/http://www.ey.com/Publication/vwLUAssets/ey-world-islamic-banking-competitiveness-report-2016/$FILE/ey-world-islamic-banking-competitiveness-report-2016.pdf|url-status=dead}}</ref>
|-
! scope="row" | Saudi Arabia
| 33
|-
! scope="row" | Malaysia
| 15.5
|-
! scope="row" | UAE
| 15.4
|-
! scope="row" | Kuwait
| 10.1
|-
! scope="row" | Qatar
| 8.1
|-
! scope="row" | Turkey
| 5.1
|-
! scope="row" | Indonesia
| 2.5
|-
! scope="row" | Bahrain
| 1.6
|-
! scope="row" | Pakistan
| 1.4
|-
! scope="row" | Rest of the world
| 7.3
|}

Sharia-compliant banking grew at an annual rate of 17.6% between 2009 and 2013, faster than conventional banking,<ref name="The Economist"/> and is estimated to be $2 trillion in size,<ref name="The Economist"/>
but at 1% of total world,<ref name="The Economist"/><ref name="islamic-finance-2014"/><ref name="Hasan_2010_3-4">see also: Hasan, Maher and Jemma Dridi (2010). ''The effects of the global crisis on Islamic and conventional banks: A comparative study. IMF working paper WP 10/201, September . Washington, DC: International Monetary Fund. p.3-4''</ref> still much smaller than the conventional sector.

As of 2010, Islamic financial institutions operate in 105 countries. Statistics differ on which country has the largest Islamic banking sector. According to the 2016 World Islamic Banking Competitiveness Report (see table), [[Saudi Arabia]], [[Malaysia]], [[United Arab Emirates]], [[Kuwait]], [[Qatar]], and [[Turkey]] represented over 87% of the international Islamic banking assets.<ref>[http://www.mifc.com/index.php?ch=28&pg=72&ac=58&bb=uploadpdf World Islamic Banking Competitiveness Report 2013–14] {{Webarchive|url=https://web.archive.org/web/20140314090532/http://www.mifc.com/index.php?ch=28&pg=72&ac=58&bb=uploadpdf |date=14 March 2014 }} EY Global Centre of Excellence, Bahrain</ref> A 2006 report by ISI Analytics also lists Saudi Arabia at the top and Iran as insignificant.<ref name="askari-2010">Askari, Hossein, Zamir Iqbal and Abbas Mirakhor. 2010. ''Globalization and Islamic finance: Convergence, prospects and challenges.'' Singapore: John Wiley & Sons (Asia). cited in ...</ref>{{sfn|Khan|2013|p=5}} In Qatar, Islamic banking assets were valued at $97 billion at the end of 2017, accounting for nearly 81% of total Islamic finance assets, according to QFC Authority chief executive officer Yousuf Mohamed al-Jaida.<ref>{{Cite news|url=https://gulf-times.com/story/624607|title=Islamic banking assets in Qatar valued at $97bn by end-2017: QFC Authority CEO|date=2019-03-11|website=Gulf-Times|language=ar|access-date=2019-03-21}}</ref> The country also announced the launch of an energy-focused Islamic bank with $10 billion capital in 2019, which would make it the biggest Islamic lender for energy projects in the world.<ref>{{Cite news|url=https://www.reuters.com/article/us-qatar-energy-bank-idUSKCN1R00MR|title=Qatar to launch energy-focused Islamic bank with $10 billion capital|date=2019-03-19|work=Reuters|access-date=2019-03-21|language=en}}</ref>

However, according to Ibrahim Warde, Shia-majority Iran dominates Islamic banking with $345 billion in Islamic assets, Saudi Arabia with $258 billion, Malaysia $142 billion, Kuwait with $118 billion and UAE with $112 billion. Islamic banks in UAE also provides Islamic investment programs which are Shariah compliant.{{sfn|Khan|2013|p=290}}<ref name="IFGE2010:1">[[#IFGE2010|Warde, ''Islamic finance in the global economy'', 2000]]: p.1</ref> And according to [[Reuters]], [[List of banks in Iran|Iranian banks]] accounted for "over a third" of the estimated worldwide total of Islamic banking assets, (although sanctions have hurt Iran's banking industry and "its Islamic financial system has evolved in ways that will complicate ties with foreign banks"). According to the latest central bank data, Iran's banking assets as of March 2014 totalled 17,344 trillion riyals or $523 billion at the free market exchange rate.<ref name="Reuters-iran">{{cite news |title=MIDEAST MONEY-Iran's isolated banks may have slow, painful return to global system |url=https://www.reuters.com/article/iran-banks-idUSL5N0XV0BY20150512 |access-date=3 August 2015 |work=Reuters |date=12 May 2015}}</ref><ref>{{cite web |url=http://www.thebanker.com/news/fullstory.php/aid/6129/Iran_dominates_sharia_ranking_as_newcomers_make_their_mark.html |title=Home |author=The Banker |access-date=12 February 2015}}</ref>
According to [[The Banker]], as of November 2015, three out of ten top Islamic banks in the world based on return on assets were Iranian.<ref>{{cite web |title=The Banker's Top Islamic Financial Institutions 2015 – Methodology |website=The Banker |author=James King |date=2 November 2015 |url=https://www.thebanker.com/Reports/Special-Reports/Top-500-Islamic-financial-institutions/The-Banker-s-Top-Islamic-Financial-Institutions-2015-Methodology/(language)/eng-GB |url-access=registration <!-- Old URL: www.thebanker.com/content/.../Top%20%20Islamic%20Financial%20Institutions.pdf-->}}</ref>

{{See also|Islamic Development Bank}}