Logo ofSaudi Central Bank (SAMA)
Shariah-compliant finance contracts in Saudi Arabia rose by 11% year-on-year (YoY) to SAR 2.38 trillion by the end of Q3 2024, data from the Saudi Central Bank (SAMA) showed. 
These agreements cover Murabaha, Tawarruq (securitization), finance leasing, Mudarabah and Musharaka, among others including credit cards and other Shariah-compliant financing instruments.
The table below indicates the development of Shariah-compliant finance contracts in Saudi Arabia:
Shariah-Compliant Finance Contracts*
Period
Value (SAR bln)
YoY Change
Q1 2020
1299.8
+13%
Q2 2020
1346.3
+15%
Q3 2020
1402.0
+16%
Q4 2020
1461.9
+17%
Q1 2021
1542.1
+19%
Q2 2021
1612.5
+20%
Q3 2021
1665.8
+19%
Q4 2021
1724.3
+18%
Q1 2022
1790.9
+16%
Q2 2022
1871.7
+16%
Q3 2022
1942.4
+17%
Q4 2022
1976.5
+15%
Q1 2023
2032.0
+13%
Q2 2023
2079.2
+11%
Q3 2023
2145.9
+10%
Q4 2023
2181.7
+10%
Q1 2024
2245.0
+10%
Q2 2024
2302.6
+11%
Q3 2024
2387.7
+11%
*Data is updated periodically.
Murabaha and Tawarruq agreements accounted for 89% of total Shariah-compliantfinancing,as follows:
Breakdown of Shariah-Compliant Financing (SAR bln)**
Period
Murabaha
Tawarruq
Finance Lease
Mudarabah
Musharaka
Others*
Total
Q1 2020
565.6
516.6
200.5
1.9
1.8
13.4
1299.8
Q2
589.9
529.8
210.6
1.5
1.5
13.1
1346.3
Q3
611.8
554.7
218.4
1.5
1.7
13.9
1402.0
Q4
646.4
561.8
229.0
1.6
1.8
21.3
1461.9
Q1 2021
695.6
578.0
243.9
1.7
1.9
21.0
1542.1
Q2
795.3
612.7
180.3
1.8
1.5
20.9
1612.5
Q3
834.1
621.0
181.3
1.8
1.4
26.3
1665.8
Q4
879.0
640.5
178.3
1.9
1.3
23.2
1724.3
Q1 2022
924.0
661.4
177.5
1.9
1.2
24.8
1790.9
Q2
968.3
692.8
177.7
2.0
1.1
29.8
1871.7
Q3
1023.6
701.2
183.0
1.8
1.2
31.6
1942.4
Q4
1049.5
709.6
180.7
1.8
1.4
33.4
1976.5
Q1 2023
1076.2
732.6
187.4
1.7
1.4
32.7
2032.0
Q2
1097.1
754.4
191.5
1.7
1.6
32.9
2079.2
Q3
1130.4
779.2
198.5
1.5
1.7
34.5
2145.9
Q4
1145.5
795.5
200.9
1.7
1.9
36.3
2181.7
Q1 2024
565.6
516.6
200.5
1.9
1.8
13.4
1299.8
Q2
1179.5
821.1
206.1
1.7
1.9
34.7
2245.0
Q3
1201.7
928.5
217.5
2.2
2.0
35.8
2387.7
*Includes credit cards and other Shariah-compliant financing instrument.
**Data is updated periodically.
Logo ofSaudi Central Bank (SAMA)
Shariah-compliant finance contracts in Saudi Arabia rose by 11% year-on-year (YoY) to SAR 2.38 trillion by the end of Q3 2024, data from the Saudi Central Bank (SAMA) showed.
These agreements cover Murabaha, Tawarruq (securitization), finance leasing, Mudarabah and Musharaka, among others including credit cards and other Shariah-compliant financing instruments.
The table below indicates the development of Shariah-compliant finance contracts in Saudi Arabia:
Shariah-Compliant Finance Contracts*
Period
Value (SAR bln)
YoY Change
Q1 2020
1299.8
+13%
Q2 2020
1346.3
+15%
Q3 2020
1402.0
+16%
Q4 2020
1461.9
+17%
Q1 2021
1542.1
+19%
Q2 2021
1612.5
+20%
Q3 2021
1665.8
+19%
Q4 2021
1724.3
+18%
Q1 2022
1790.9
+16%
Q2 2022
1871.7
+16%
Q3 2022
1942.4
+17%
Q4 2022
1976.5
+15%
Q1 2023
2032.0
+13%
Q2 2023
2079.2
+11%
Q3 2023
2145.9
+10%
Q4 2023
2181.7
+10%
Q1 2024
2245.0
+10%
Q2 2024
2302.6
+11%
Q3 2024
2387.7
+11%
*Data is updated periodically.
Murabaha and Tawarruq agreements accounted for 89% of total Shariah-compliantfinancing,as follows:
Breakdown of Shariah-Compliant Financing (SAR bln)**
Period
Murabaha
Tawarruq
Finance Lease
Mudarabah
Musharaka
Others*
Total
Q1 2020
565.6
516.6
200.5
1.9
1.8
13.4
1299.8
Q2
589.9
529.8
210.6
1.5
1.5
13.1
1346.3
Q3
611.8
554.7
218.4
1.5
1.7
13.9
1402.0
Q4
646.4
561.8
229.0
1.6
1.8
21.3
1461.9
Q1 2021
695.6
578.0
243.9
1.7
1.9
21.0
1542.1
Q2
795.3
612.7
180.3
1.8
1.5
20.9
1612.5
Q3
834.1
621.0
181.3
1.8
1.4
26.3
1665.8
Q4
879.0
640.5
178.3
1.9
1.3
23.2
1724.3
Q1 2022
924.0
661.4
177.5
1.9
1.2
24.8
1790.9
Q2
968.3
692.8
177.7
2.0
1.1
29.8
1871.7
Q3
1023.6
701.2
183.0
1.8
1.2
31.6
1942.4
Q4
1049.5
709.6
180.7
1.8
1.4
33.4
1976.5
Q1 2023
1076.2
732.6
187.4
1.7
1.4
32.7
2032.0
Q2
1097.1
754.4
191.5
1.7
1.6
32.9
2079.2
Q3
1130.4
779.2
198.5
1.5
1.7
34.5
2145.9
Q4
1145.5
795.5
200.9
1.7
1.9
36.3
2181.7
Q1 2024
565.6
516.6
200.5
1.9
1.8
13.4
1299.8
Q2
1179.5
821.1
206.1
1.7
1.9
34.7
2245.0
Q3
1201.7
928.5
217.5
2.2
2.0
35.8
2387.7
*Includes credit cards and other Shariah-compliant financing instrument.
**Data is updated periodically.
