Saudi Arabian banknotes
These agreements cover Murabaha, Tawarruq (securitization), finance leasing, Mudarabah and Musharaka, among others including credit cards and other Shariah-compliant financing instruments. 
Shariah-Compliant Finance Contracts*
Period
Value (SAR bln)
YoY Change
Q1 2021
1,542.1
+19%
Q2 2021
1,612.5
+20%
Q3 2021
1,665.8
+19%
Q4 2021
1,724.3
+18%
Q1 2022
1,790.9
+16%
Q2 2022
1,871.7
+16%
Q3 2022
1,942.4
+17%
Q4 2022
1,976.5
+15%
Q1 2023
2,032.0
+13%
Q2 2023
2,079.2
+11%
Q3 2023
2,145.9
+10%
Q4 2023
2,181.7
+10%
Q1 2024
2,245.1
+10%
Q2 2024
2,302.6
+11%
Q3 2024
2,387.7
+11%
Q4 2024
2,471.6
+13%
Q1 2025
2,586.4
+15%
Q2 2025
2,646.1
+15%
Q3 2025
2,709.3
+13%
Q4 2025
2,726.3
+10%
Q1 2026
2,782.3
+8%
*Data is updated periodically.
Murabaha and Tawarruq agreements accounted for 89% of total Shariah-compliant financing in Q1 2026.
Breakdown of Shariah-Compliant Financing (SAR bln)*
Period
Murabaha
Tawarruq
Finance
Lease
Mudarabah
Musharaka
Others*
Total
Q1 2021
658.6
616.9
241.9
1.7
1.9
21.0
1,542.1
Q2
758.1
651.9
178.3
1.8
1.5
20.9
1,612.5
Q3
796.2
660.9
179.2
1.8
1.4
26.3
1,665.8
Q4
841.0
680.6
176.2
1.9
1.3
23.2
1,724.3
Q1 2022
884.7
702.9
175.4
1.9
1.2
24.8
1,790.9
Q2
928.1
735.2
175.5
2.0
1.1
29.8
1,871.7
Q3
982.1
745.0
180.7
1.8
1.2
31.6
1,942.4
Q4
1,005.9
755.7
178.3
1.8
1.4
33.4
1,976.5
Q1 2023
1,031.5
779.8
184.9
1.7
1.4
32.7
2,032.0
Q2
1,049.6
804.6
189.0
1.7
1.6
32.9
2,079.2
Q3
1,082.3
830.0
195.8
1.5
1.7
34.5
2,145.9
Q4
1,097.1
846.7
198.1
1.7
1.9
36.3
2,181.7
Q1 2024
1,129.8
873.4
203.3
1.7
1.9
34.9
2,245.1
Q2
1,153.4
897.4
213.0
1.9
2.0
34.9
2,302.6
Q3
1,201.7
928.5
217.5
2.2
2.0
35.8
2,387.7
Q4
1,259.0
948.2
219.4
2.2
1.9
41.0
2,471.6
Q1 2025
1,323.1
1,004.3
216.4
2.0
1.8
38.7
2,586.4
Q2
1,359.2
1,025.1
218.1
1.9
2.0
39.7
2,646.1
Q3
1,373.9
1,058.0
229.8
2.3
2.0
43.3
2,709.3
Q4
1,373.0
1,065.8
248.4
2.5
1.1
35.6
2,726.3
Q1 2026
1,388.5
1,098.0
249.4
3.0
1.0
42.5
2,782.3
*Includes credit cards and other Shariah-compliant financing instruments.
Saudi Arabian banknotes
These agreements cover Murabaha, Tawarruq (securitization), finance leasing, Mudarabah and Musharaka, among others including credit cards and other Shariah-compliant financing instruments.
Shariah-Compliant Finance Contracts*
Period
Value (SAR bln)
YoY Change
Q1 2021
1,542.1
+19%
Q2 2021
1,612.5
+20%
Q3 2021
1,665.8
+19%
Q4 2021
1,724.3
+18%
Q1 2022
1,790.9
+16%
Q2 2022
1,871.7
+16%
Q3 2022
1,942.4
+17%
Q4 2022
1,976.5
+15%
Q1 2023
2,032.0
+13%
Q2 2023
2,079.2
+11%
Q3 2023
2,145.9
+10%
Q4 2023
2,181.7
+10%
Q1 2024
2,245.1
+10%
Q2 2024
2,302.6
+11%
Q3 2024
2,387.7
+11%
Q4 2024
2,471.6
+13%
Q1 2025
2,586.4
+15%
Q2 2025
2,646.1
+15%
Q3 2025
2,709.3
+13%
Q4 2025
2,726.3
+10%
Q1 2026
2,782.3
+8%
*Data is updated periodically.
Murabaha and Tawarruq agreements accounted for 89% of total Shariah-compliant financing in Q1 2026.
Breakdown of Shariah-Compliant Financing (SAR bln)*
Period
Murabaha
Tawarruq
Finance
Lease
Mudarabah
Musharaka
Others*
Total
Q1 2021
658.6
616.9
241.9
1.7
1.9
21.0
1,542.1
Q2
758.1
651.9
178.3
1.8
1.5
20.9
1,612.5
Q3
796.2
660.9
179.2
1.8
1.4
26.3
1,665.8
Q4
841.0
680.6
176.2
1.9
1.3
23.2
1,724.3
Q1 2022
884.7
702.9
175.4
1.9
1.2
24.8
1,790.9
Q2
928.1
735.2
175.5
2.0
1.1
29.8
1,871.7
Q3
982.1
745.0
180.7
1.8
1.2
31.6
1,942.4
Q4
1,005.9
755.7
178.3
1.8
1.4
33.4
1,976.5
Q1 2023
1,031.5
779.8
184.9
1.7
1.4
32.7
2,032.0
Q2
1,049.6
804.6
189.0
1.7
1.6
32.9
2,079.2
Q3
1,082.3
830.0
195.8
1.5
1.7
34.5
2,145.9
Q4
1,097.1
846.7
198.1
1.7
1.9
36.3
2,181.7
Q1 2024
1,129.8
873.4
203.3
1.7
1.9
34.9
2,245.1
Q2
1,153.4
897.4
213.0
1.9
2.0
34.9
2,302.6
Q3
1,201.7
928.5
217.5
2.2
2.0
35.8
2,387.7
Q4
1,259.0
948.2
219.4
2.2
1.9
41.0
2,471.6
Q1 2025
1,323.1
1,004.3
216.4
2.0
1.8
38.7
2,586.4
Q2
1,359.2
1,025.1
218.1
1.9
2.0
39.7
2,646.1
Q3
1,373.9
1,058.0
229.8
2.3
2.0
43.3
2,709.3
Q4
1,373.0
1,065.8
248.4
2.5
1.1
35.6
2,726.3
Q1 2026
1,388.5
1,098.0
249.4
3.0
1.0
42.5
2,782.3
*Includes credit cards and other Shariah-compliant financing instruments.
