This global aggregate across 47 countries is divided into three core geographic areas, the six Gulf Cooperation Council (GCC) states, the non-GCC states of the Middle East and North Africa (MENA) and the remaining non-MENA states across the globe.
Institutions from the GCC states provide the largest slice of the $500.5bn aggregate total, accounting for $178.1bn or 35.6% of the total. Within the GCC, Saudi Arabian institutions account for 38.95% of the GCC total followed by Kuwait (21.16%), the United Arab Emirates (19.85%), Bahrain (14.74%) and Qatar (5.31%). Figures for Oman are not available.
Elsewhere in the MENA region, Iranian institutions are dominant accounting for 87.44% of the regional non-GCC total of $176.82bn. Iranian sharia-compliant assets at $154.6bn are 30.9% of the global total. The remainder in this area is accounted for by Lebanon (7.78%), Egypt (2.18%) and Jordan (1.49%).
Outside the MENA region, countries led by Malaysia and stretching from Indonesia to the UK accounted for $145.5bn, 29.1% of the global total. Malaysia has 40.72% of the non-MENA sharia-compliant assets, followed by Brunei (19.73%) and Pakistan (9.96%).
