Islamic Finance Statistics & Industry Data
Comprehensive, regularly updated statistics on the global Islamic finance industry — from market size and sukuk issuance to Islamic banking assets and takaful growth. All data sourced from published industry research.
Editorial Team, HalalWallet
How big is the Islamic finance industry in 2026?
The global Islamic finance industry is valued at $5.98 trillion in total assets (ICD-LSEG 2025), making it one of the fastest-growing segments of the global financial system. Islamic banking accounts for the largest share (~70%), followed by Sukuk (~17%), Islamic funds (~5%), and Takaful (~2%). The industry spans 80+ countries with over 1,500 institutions, growing at a CAGR of 10–12%.
- Islamic banking assets exceed $3 trillion, growing at 10–15% annually
- Annual global sukuk issuance exceeds $170 billion, with $800B+ outstanding
- Takaful contributions top $30 billion, with family takaful growing fastest
- Major markets: Malaysia, Saudi Arabia, UAE, Indonesia, Bahrain, Turkey
ICD-LSEG Islamic Finance Development Report 2025; Dr. M.K. Hassan, University of New Orleans, 2025
Islamic Finance in Canada
Canada is home to one of the fastest-growing Muslim communities in the West, driving rising demand for Shariah-compliant home financing, investing, and banking.
≈1.8 million
Muslims in Canada (4.9% of the population)
As of the 2021 Census of Population, about 1.8 million people in Canada identified as Muslim — making Islam the second-largest religion in the country after Christianity.
Statistics Canada, 2021 Census →~3×
Growth in Canada's Muslim population since 2001
Canada's Muslim population grew from roughly 580,000 in the 2001 Census to about 1.8 million in 2021 — more than tripling in two decades, one of the fastest-growing faith communities in the country.
Statistics Canada, 2001 & 2021 Censuses →2nd
Largest religion in Canada
Islam is the most commonly reported religion in Canada after Christianity, reflecting steady growth driven by immigration and a relatively young population.
Statistics Canada, 2021 Census →$5.98T
Global Islamic finance assets (2024)
The global Islamic finance industry that Canadian providers plug into reached US$5.98 trillion in total assets in 2024, projected to hit US$9.7 trillion by 2029.
ICD-LSEG Islamic Finance Development Report 2025 →Canada-specific Islamic-finance market-size data is still emerging; the figures above cover Canadian demographics and the global industry Canadian providers operate within.
Takaful & Insurance Statistics
Takaful (Islamic insurance) contributions, growth, and market data
US$122 million
capital market instruments. The maiden issuance set a target of TZS300 billion (US$122 million) but managed to raise TZS381.38 billion (US$156 million) in early 2025, an over
US$156 million
rget of TZS300 billion (US$122 million) but managed to raise TZS381.38 billion (US$156 million) in early 2025, an oversubscription of 127%. This opened a benchmark for other
US$51 million
denced by the large oversubscription in both currencies where TZS125.4 billion (US$51 million) and US$32.31 million was raised against targets of TZS30 billion (US$12.2 mill
US$32.31 million
oversubscription in both currencies where TZS125.4 billion (US$51 million) and US$32.31 million was raised against targets of TZS30 billion (US$12.2 million) and US$5 million,
US$12.2 million
S$51 million) and US$32.31 million was raised against targets of TZS30 billion (US$12.2 million) and US$5 million, equivalent to a subscription rate of 418% and 646% respectiv
US$5 million
32.31 million was raised against targets of TZS30 billion (US$12.2 million) and US$5 million, equivalent to a subscription rate of 418% and 646% respectively. Preview of 20
US$5.6 million
he September 2025 Fund Fact Sheet, the Imaan Fund had reached TZS13.83 billion (US$5.6 million) AuM from the IPO of TZS5 billion (US$2 million) in 2024, a 176% growth. 4. Gro
US$2 million
had reached TZS13.83 billion (US$5.6 million) AuM from the IPO of TZS5 billion (US$2 million) in 2024, a 176% growth. 4. Growth in Takaful: Driven by a rising demand for Sh
US$1.9 million
Tanzania were around TZS500 million (US$203,000) and jumped to TZS4.6 billion (US$1.9 million) by 2024, a surge of 820%. However, the absolute share remains modest relative
$122 million
pital market instruments. The maiden issuance set a target of TZS300 billion (US$122 million) but managed to raise TZS381.38 billion (US$156 million) in early 2025, an over
US$2.05 billion
ustained robust growth, with total gross contributions reaching RM8.56 billion (US$2.05 billion) in the first half of 2025 – a 4.52% increase from RM8.19 billion (US$1.97 bill
US$1.97 billion
2.05 billion) in the first half of 2025 – a 4.52% increase from RM8.19 billion (US$1.97 billion) in the same period of 2024. Much of this growth was seen in General Takaful, w
Frequently Asked Questions About Islamic Finance Statistics
How big is the global Islamic finance industry?
The global Islamic finance industry is valued at $5.98 trillion in total assets (ICD-LSEG 2025), with Islamic banking comprising the largest segment. The industry has been growing at a compound annual growth rate (CAGR) of approximately 10–12% over the past decade, driven by increasing demand in Muslim-majority countries and growing adoption in Western markets including Canada.
What is the size of the global sukuk market?
The global sukuk (Islamic bonds) market has seen annual issuance volumes exceeding $170 billion in recent years, with total outstanding sukuk reaching over $800 billion. Key issuance markets include Malaysia, Saudi Arabia, Indonesia, and the UAE, with growing issuance from non-Muslim-majority countries. Read our 2026 global sukuk deep dive →
How fast is Islamic banking growing?
Islamic banking assets have been growing at approximately 10–15% annually, outpacing conventional banking growth in most jurisdictions. The sector is particularly strong in the GCC countries, Malaysia, and increasingly in Africa and Central Asia. See country breakdowns: Saudi Arabia · UAE · Malaysia · Indonesia · UK.
What is the size of the takaful market?
The global takaful (Islamic insurance) market has been growing at approximately 10–14% annually, with total contributions exceeding $30 billion. Saudi Arabia and Malaysia are the largest takaful markets, with family takaful growing faster than general takaful. Why takaful doesn't exist in Canada yet →
How many Islamic finance institutions are there globally?
There are over 1,500 Islamic financial institutions operating across more than 80 countries. These include full-fledged Islamic banks, Islamic windows of conventional banks, takaful operators, Islamic fund managers, and Islamic microfinance institutions.
Looking for US-specific data?
The State of Halal Finance in America is our annual report on the US market: how many providers operate, where they operate, how often the screening authorities disagree, and what it costs — every figure computed from our live registry or cited to a primary source.
Read the 2026 report →Go Deeper
Sources and review process
This page is reviewed against HalalWallet editorial standards and source documentation.
Reviewed by: HalalWallet Editorial Team
Last reviewed: 2026-07-10
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How to use this comparison: HalalWallet is an independent educational comparison platform — by design, we do not provide financial, legal, or religious advice. We do the research homework so your final checks are quick and personal.
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