training of trainers

keuangan syariah

Islamic Finance in the World

Dian Masyita Ph.D
ketua Program Studi Ekonomi Islam
Universitas Padjadjaran

sep
2016
content
review

IF overview IF country index

01 Islamic finance overview 2016
02 Top Islamic finance countries based on
Islamic Finance Country Index (GIFR 2016)

country overview sector overview

03 Islamic finance current state overview for
each of the top 10 IF countries 04 Sharia governance, takaful, sukuk

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training of trainers
keuangan syariah

Islamic Finance Overview

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2016
overview
size & growth of Islamic finance

size &
growth 2015

2,143 (US$ Billion)

7.3%
source:
GIFR 2016

page
02
overview
assets under management

1.286
trillion US$ (60%)
1.6
trillion US$ (75%)
2.143
trillion US$

aum of aum of aum of

full-fledged banks offering banking and non
islamic banks islamic financial banking offering
services islamic financial
source: services
GIFR 2016

page
03
overview
future growth

future
growth IBF

2016-2020
source:
GIFR 2016

page
04
overview
size of Islamic finance

potential
vs
actual
size of IBF
source:
GIFR 2016

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05
training of trainers
keuangan syariah

Islamic Finance Country Index

sep
2016
Islamic finance country index
top 10 countries

Rank 2011 2012 2013 2014 2015 2016

1 Iran Iran Iran Iran Iran Malaysia

2 Malaysia Malaysia Malaysia Malaysia Malaysia Iran

3 Saudi Arabia Saudi Arabia Saudi Arabia Saudi Arabia Saudi Arabia Saudi Arabia

4 Indonesia Kuwait UAE Bahrain UAE UAE

5 Kuwait UAE Indonesia Kuwait Kuwait Kuwait

6 Pakistan Bahrain Bahrain UAE Bahrain Indonesia

7 UAE Indonesia Kuwait Indonesia Indonesia Qatar

8 Bahrain Pakistan Pakistan Sudan Qatar Bahrain

source: 9 Bangladesh Qatar Sudan Pakistan Sudan Pakistan
GIFR 2016
10 Sudan Sudan Bangladesh Qatar Pakistan Bangladesh
diolah kembali

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06
Islamic finance country index
variables

number of
Islamic banks,
ifci number of IBFIs,
volume of Islamic
variables financial assets,
source:
and the sukuk
GIFR 2016 outstanding

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Country Overview

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2016
country overview
01 - Malaysia

6 11

Fully-fledged Islamic
Islamic banks subsidiaries

1 (2016)

page
source: GIFR 2015, GIFR 2016
08
country overview
01 - Malaysia

206.3 billion US$ total sharia-compliant assets

37 institutions offering sharia services

19.9 million muslim population

66.1% muslim of total population

page
source: The Bankers 2015
09
country overview
02 - Iran - rank 2 IFCI 2016

316.4 billion US$ total sharia-compliant assets

28 institutions offering sharia services

77.7 million muslim population

99% muslim of total population

page
source: The Bankers 2015
10
country overview
03 Saudi Arabia

4 8

Fully-fledged Islamic
Islamic banks subsidiaries

3 (2016)

page
source: GIFR 2015, GIFR 2016, Reuters.com
11
country overview
03 Saudi Arabia

306.8 billion US$ total sharia-compliant assets

42 institutions offering sharia services

27.2 million muslim population

92.7% muslim of total population

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source: The Bankers 2015
12
country overview
04 Uni Emirat Arab

28 23 7

foreign banks national Islamic banks

banks

4 (2016)

page
source: GIFR 2015, GIFR 2016, Emiratesdiary.com, Qattan 2015
13
country overview
04 Uni Emirat Arab

111.2 billion US$ total sharia-compliant assets

20 institutions offering sharia services

7 million muslim population

75% muslim of total population

page
source: The Bankers 2015
14
country overview
05 - Kuwait

10 5

banks Islamic banks

5 (2016)

page
source: GIFR 2015, GIFR 2016, Qattan 2015
15
country overview
05 - Kuwait

84.4 billion US$ total sharia-compliant assets

27 institutions offering sharia services

2.4 million muslim population

70.7% muslim of total population

page
source: The Bankers 2015
16
country overview
06 - Indonesia

12 163 22

sharia-compliant Islamic rural Islamic

banks banks windows

6 (2016)

page
source: GIFR 2015, GIFR 2016, OJK 2014
17
country overview
06 - Indonesia

21 billion US$ total sharia-compliant assets

56 institutions offering sharia services Indonesia is the

most untapped
Islamic finance
219.9 million muslim population country

87% muslim of total population

page
source: The Bankers 2015
18
country overview
06 - Indonesia

Growth Outlook Indonesia's Islamic Banking Industry in 2016

Indicator Normal Optimistic Pessimistic

Assets 12.8 - 14.6% 14.6 - 17.1% 10.9 - 12.8%
Financing 13.1 - 15.0% 15.1 - 17.0% 11.1 - 13.1%
Third-Party Funds 12.8 - 14.7% 14.7 - 16.6% 10.9 - 12.8%
Finance-Deposit Ratio 90.9 - 99.7% 99.7 - 105.6% 82.0 - 90.9%
Market Share 4.4 - 4.6% 4.6 - 5.5% 4.2 - 4.4%

page
source: MES cited from indonesia-investments.com
19
country overview
07 - Qatar

16 4

banks Islamic banks

7 (2016)

page
source: GIFR 2015, GIFR 2016, Qattan 2015
20
country overview
07 - Qatar

70.9 billion US$ total sharia-compliant assets

10 institutions offering sharia services

1.4 million muslim population

65.2% muslim of total population

page
source: The Bankers 2015
21
country overview
08 - Bahrain

6 19

IB retail IB wholesale

8 (2016)

page
source: GIFR 2015, GIFR 2016, Qattan 2015, cbb.gov.bh
22
country overview
08 - Bahrain

65 billion US$ total sharia-compliant assets

30 institutions offering sharia services

0.9 million muslim population

70.3% muslim of total population

page
source: The Bankers 2015
23
country overview
09 - Pakistan

5 17

Fully-fledged Islamic
Islamic banks subsidiaries

9 (2016)

page
source: GIFR 2015, GIFR 2016
24
country overview
09 - Pakistan

10.1 billion US$ total sharia-compliant assets

19 institutions offering sharia services

178.6 million muslim population

96.5% muslim of total population

page
source: The Bankers 2015
25
country overview
10 - Bangladesh

8 17

Fully-fledged Islamic
Islamic banks subsidiaries

10 (2016)

page
source: GIFR 2015, GIFR 2016
26
country overview
10 - Bangladesh

22.2 billion US$ total sharia-compliant assets

24 institutions offering sharia services

143.9 million muslim population

90.8% muslim of total population

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source: The Bankers 2015
27
training of trainers
keuangan syariah

Sector Overview

sep
2016
sector overview
sharia governance
Why its important?
Study by Beloufi et al (2015) on 40
researches between 1983-2013
found a significant divergence
between the theory and practice of
Islamic finance
Source: Hasan, Z. 2016
Why it happen?
Different standards (AAOIFI,
IFSB, Malaysia Governance
Framework, Pakistan Sharia
Compliance Guideline, DIFC,
QFC, PBI, etc.)
Shortage of scholars (10
Shariah scholars serve in
approximately 497 IFIs
representing 76% the total IFIs)
page
28
sector overview
sharia governance indicator

Country 2015
Bahrain 142
Malaysia 116
Kuwait 106
Bangladesh 92
Sudan 89
Oman 70
Indonesia 57
Pakistan 56

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source: Hasan, Z. 2016
29
sector overview
takaful

20 billion US$ gross contribution 2015

241 operators in 39 countries

142 primary operators, 22 re-takaful business

69 takaful co-operatives

page
source: Asaria, M. I. 2016
30
sector overview
takaful
Takaful operators

page
source: World Islamic Insurance Directory, cited from IFSB 2016
31
sector overview
sukuk

in 2015 returned 2.23%

as measured by the Dow
Jones Sukuk Index,
compared to a return of
1.31% for the Bloomberg
Emerging Market
Composite Bond Index

290.6 billion US$ sukuk

outstanding

Page
source: IFN Annual Guide 2016, IFSB 2016
32
sector overview
sukuk di Indonesia

page
source: OJK 2016
33
training of trainers
keuangan syariah

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 our
latest and current projects

Seminar Training
International seminar Framing Training of Trainers Keuangan
Islamic Economics as a Moral Syariah, bekerjasama dengan
Economy OJK

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Countries (WAiBS)

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training of trainers
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thank you.

end