Islam is the major religion in many African countries, especially in the north of the continent. In Comoros, Libya, Western Sahara, at least 99 percent of the population was Muslim as of 202. These were the highest percentages on the continent. However, also in many other African nations, the majority of the population was Muslim. In Egypt, for instance, Islam was the religion of 79 percent of the people. Islam and other religions in Africa Africa accounts for an important share of the world’s Muslim population. As of 2019, 16 percent of the Muslims worldwide lived in Sub-Saharan Africa, while 20 percent of them lived in the Middle East and North Africa (MENA) region. Together with Christianity, Islam is the most common religious affiliation in Africa, followed by several traditional African religions. Although to a smaller extent, numerous other religions are practiced on the continent: these include Judaism, the Baha’i Faith, Hinduism, and Buddhism. Number of Muslims worldwide Islam is one of the most widespread religions in the world. There are approximately 1.9 billion Muslims globally, with the largest Muslim communities living in the Asia-Pacific region. Specifically, Indonesia hosts the highest number of Muslims worldwide, amounting to over 200 million, followed by India, Pakistan, and Bangladesh. Islam is also present in Europe and America. The largest Islamic communities in Europe are in France (5.72 million), Germany (4.95 million), and the United Kingdom (4.13 million). In the United States, there is an estimated number of around 3.45 million Muslims.

In 2024, Nigeria had the largest Muslim population in Africa, with around 105 million people who belonged to an Islamic denomination. Egypt and Algeria followed with 90.4 million and 39.4 million Muslims, respectively. Muslims have a significant presence in Africa, with an estimated 50 percent of the continent's population identifying as Muslim. The spread of Islam in Africa began in the 7th century with the arrival of Arab traders, and it continued through Islamic scholars and missionaries.

In 2024, Nigeria accounted for 7.08 percent of the global Muslim population, the highest share among African countries. Egypt and Algeria followed, with shares of 6.12 percent and 2.67 percent, respectively. Islam has a significant presence in Africa, with an estimated 50 percent of the continent's population identifying as Muslim. The spread of Islam in Africa began in the 7th century with the arrival of Arab traders, and later continued through Islamic scholars and missionaries.

Christianity is the major religion in numerous African countries. As of 2024, around 96 percent of the population of Zambia was Christian, representing the highest percentage on the continent. Seychelles and Rwanda followed with roughly 95 percent and 94 percent of the population being Christian, respectively. While these countries present the highest percentages, Christianity was also prevalent in many other African nations. For instance, in South Africa, Christianity was the religion of nearly 85 percent of the people, while the share corresponded to 71 percent in Ghana. Religious variations across Africa Christianity and Islam are the most practiced religions in Africa. Christian adherents are prevalent below the Sahara, while North Africa is predominantly Muslim. In 2020, Christians accounted for around 60 percent of the Sub-Saharan African population, followed by Muslims with a share of roughly 30 percent. In absolute terms, there were approximately 650 million Christians in the region, a number forecast to increase to over one billion by 2050. In contrast, Islam is most prevalent in North Africa, being the religion of over 90 percent of the population in Algeria, Morocco, Tunisia, and Libya. Christianity in the world As opposed to other religions, Christianity is widely spread across continents worldwide. In fact, Sub-Saharan Africa, Latin America and the Caribbean, and Europe each account for around 25 percent of the global Christian population. By comparison, Asia-Pacific and North America make up 13 percent and 12 percent of Christians worldwide, respectively. In several regions, Christians also suffer persecution on religious grounds. Somalia and Libya presented the most critical situation in Africa in 2021, reporting the strongest suppression of Christians worldwide just after North Korea and Afghanistan.

These data were collected for a study of how the characteristics of political parties influence women's chances in assuming leadership positions within the parties' inner structures. Data were compiled by Fatima Sbaity Kassem for a case-study of Lebanon and by national and local researchers for 25 other countries in Asia, Africa and Europe. The researchers collected raw data on women in politics from party administrators and government officials. Researchers gathered information about parties' year of origin, number of seats in parliament, political platform, and all gender-disaggregated party data (in percentages) on overall party membership, shares in executive and decision-making bodies, and nominations on electoral lists. A key variable measures party religiosity, which refers to the religious components on their political platforms or the extent to which religion penetrates their political agendas.

Only parties that have at least one seat in any of the last three parliaments were included. These are referred to as 'relevant' parties. The four data sets combined cover 330 political parties in Lebanon plus 12 other Arab countries (Algeria, Bahrain, Comoros, Djibouti, Egypt, Jordan, Kuwait, Mauritania, Morocco, Palestine, Tunisia, and Yemen), seven non-Arab Muslim-majority countries (Albania, Afghanistan, Bangladesh, Bosnia-Herzegovina, Indonesia, Senegal, and Turkey), five European countries with dominant Christian democratic parties (Austria, Belgium, Italy, Germany, and the Netherlands), and Israel.

"Between October 2011 and November 2012, Pew Research Center, with generous funding from The Pew Charitable Trusts and the John Templeton Foundation, conducted a public opinion survey involving more than 30,000 face-to-face interviews in 26 countries in Africa, Asia, the Middle East and Europe. The survey asked people to describe their religious beliefs and practices, and sought to gauge respondents; knowledge of and attitudes toward other faiths. It aimed to assess levels of political and economic satisfaction, concerns about crime, corruption and extremism, positions on issues such as abortion and polygamy, and views of democracy, religious law and the place of women in society.

"Although the surveys were nationally representative in most countries, the primary goal of the survey was to gauge and compare beliefs and attitudes of Muslims. The findings for Muslim respondents are summarized in the Religion & Public Life Project's reports The World's Muslims: Unity and Diversity and The World's Muslims: Religion, Politics and Society, which are available at www.pewresearch.org. [...] This dataset only contains data for Muslim respondents in the countries surveyed. Please note that this codebook is meant as a guide to the dataset, and is not the survey questionnaire." (2012 Pew Religion Worlds Muslims Codebook)

Kuwait Exports: Africa: Islamic Non Arab Countries: Burkina Faso data was reported at 0.040 KWD th in 2017. This records a decrease from the previous number of 0.639 KWD th for 2016. Kuwait Exports: Africa: Islamic Non Arab Countries: Burkina Faso data is updated yearly, averaging 1.000 KWD th from Dec 1995 (Median) to 2017, with 21 observations. The data reached an all-time high of 53.770 KWD th in 2003 and a record low of 0.000 KWD th in 2002. Kuwait Exports: Africa: Islamic Non Arab Countries: Burkina Faso data remains active status in CEIC and is reported by Central Statistical Bureau. The data is categorized under Global Database’s Kuwait – Table KW.JA007: Exports: by Country: Annual.

Islam and Christianity form the two dominant religions in Nigeria. The basis of traditional religions was systematically exterminated in the religio-cultural life of the Nigerian people after their contact with colonialism. Approximately 90 percent of the Nigerian people have since preferred to be identified with either Islam or Christianity.Nigeria’s contact with Islam predated that of Christianity and European colonialism; its spread was facilitated into Sub-Saharan Africa through trade and commerce. The northern part of Nigeria is symbolic to the history of Islam, as it penetrated the area through the Kanem-Borno Empire in the 11th century before spreading to the other predominately Hausa states. Islam was then introduced into the traditional societies of the Yoruba-speaking people of south-west Nigeria through their established commercial relationship with people of the North, particularly the Nupe and Fulani.Christianity reached Nigeria in the 15th century with the visitation of the Roman and Catholic missionaries to the coastal areas of the Niger-Delta region, although there were few recorded converts and churches built during this period. Christianity soon recorded a boost in the southern region given its opposition to the slave trade and its promotion of Western education. In contrast to the smooth process Christian evangelization underwent in the South, its process in the North was difficult because Islam had already become well-established.Given the philosophy of Islam as a complete way of life for a Muslim, Islam has always been closely attached to politics in Nigeria. The emergence of particular Islamic groups was significantly influenced by international events, particularly the 1979 Iranian revolution and the corresponding disenchantment from the West. These developments shaped Nigerian national politics of the period as Muslims radically redefined their political interests in line with religion and began to clamor for the incorporation of the Sharia legal system into the country’s judicial system. Nigeria then tried to harness opportunities accruable from other Muslim countries by becoming a registered member with the Organization of Islamic Conference (OIC) in 1985. This inflamed Christians and nurtured the fear of domination by their Muslim counterparts and the possibility of a gradual extinction of their religio-political strength in the national political structure. The distinct religious separation has also instigated violence in present-day Nigeria, including the Sharia riot in Kaduna in 2000, ongoing ethno-religious violence in Jos since 2001, and the 2011 post-election violence that erupted in some northern states. Nigerians’ continued loyalty to religion compared to that of the country continues to sustain major political debate, conflict, and violent outbreaks between populations of the two faiths.

ISO3 - International Organization for Standardization 3-digit country code

AREA_AFF - Geographic area affected by disease

DT_START - Date health event started

DT_END - Date health event ended

TYPE - Type of disease group

DISEASE - Name of disease

NUM_DTH - Number of people reported dead from disease

NUM_AFF - Number of people affected from disease

SOURCE_DT - Source creation date

SOURCE - Primary source

Collection

This HGIS was created using information collected from several websites. EM-DAT, the World Health Organization, and news reports provided information about the outbreaks.

The data included herein have not been derived from a registered survey and should be considered approximate unless otherwise defined. While rigorous steps have been taken to ensure the quality of each dataset, DigitalGlobe Analytics is not responsible for the accuracy and completeness of data compiled from outside sources.

Sources (HGIS)

Egunganga, Vincent, Ami Sadiq, and Hir Joseph. All AfricaHIR JOSEPH, "Nigeria: Lassa Fever Returns Vicio." Last modified March 09, 2013. Accessed April 16, 2013. http://allafrica.com/.

EM DAT, "Country Database; Nigeria." Last modified March 2013. Accessed April 16, 2013. http://www.emdat.be/.

World Health Organization, "Global Health Observatory; Nigeria." Last modified 2012. Accessed April 16, 2013. http://www.who.int/en/.

Sources (Metadata)

Encyclopedia of the Nations, "Nigeria Country Specific Information." Last modified 2013. Accessed March 28, 2013. http://www.nationsencyclopedia.com.

Kates, Jennifer, and Alyssa Wilson Leggoe. The Henry J. Kaiser Family Foundation, "HIV/AIDS; The HIV/AIDS Epidemic in Nigeria." Last modified October 2005. Accessed April 16, 2013. http://www.kff.org/.

United States Embassy in Nigeria, "Nigeria Malaria Fact Sheet." Last modified December 2011. Accessed April 16, 2013. http://nigeria.usembassy.gov.

World Health Organization, "Global Task Force on Cholera Control." Last modified January 18, 2012. Accessed April 16, 2013. http://www.who.int/.

World Health Organization, "Meningococcal disease: situation in the African Meningitis Belt." Last modified 2012. Accessed March 14, 2013. http://www.who.int/csr/don/2012_05_24/en/index.html.

In 2020, Indonesia recorded the largest population of Muslims worldwide, with around 239 million. This was followed with around 226.88 million Muslims in Pakistan and 213 million Muslims in India.

Officially Taiwan has only 60,000 Muslim population, which constitutes only 0.2 % of the total population of Taiwan but many Muslims from countries like Indonesia, Myanmar, Malaysia, Turkey, Pakistan, India, and countries from Africa and the Middle East are part of the workforce which was estimated up to 254,000 in 2015. Interestingly, the number of local Muslims is less than those who came here to work or to study. There are about 7 mosques in Taiwan but it also has many other places where people can perform daily prayers.

Kuwait Imports: Africa: Islamic Non Arab Countries: Sierra Leone data was reported at 56.687 KWD th in 2017. This records an increase from the previous number of 25.234 KWD th for 2016. Kuwait Imports: Africa: Islamic Non Arab Countries: Sierra Leone data is updated yearly, averaging 12.690 KWD th from Dec 1973 (Median) to 2017, with 21 observations. The data reached an all-time high of 212.867 KWD th in 2006 and a record low of 0.000 KWD th in 2004. Kuwait Imports: Africa: Islamic Non Arab Countries: Sierra Leone data remains active status in CEIC and is reported by Central Statistical Bureau. The data is categorized under Global Database’s Kuwait – Table KW.JA014: Imports: by Country: Annual.

According to Cognitive Market Research, the global Islamic Financing market size was USD 2514.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 10.50% from 2024 to 2031.

North America held the major market of more than 40% of the global revenue with a market size of USD 1005.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.7% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 754.26 million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 578.27 million in 2024 and will grow at a compound annual growth rate (CAGR) of 12.5% from 2024 to 2031.
The Latin American market will account for more than 5% of global revenue and have a market size of USD 125.71 million in 2024. It will grow at a compound annual growth rate (CAGR) of 9.9% from 2024 to 2031.
The Middle East and Africa held the major markets, accounting for around 2% of the global revenue. The market was USD 50.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 10.2% from 2024 to 2031.
The Individual held the highest Islamic Financing market revenue share in 2024.

Market Dynamics of Islamic Financing Market

Key Drivers of Islamic Financing Market

Growing Muslim Population to Increase the Demand Globally

The growing Muslim population globally is expected to significantly increase the demand for Islamic financial products and services in the coming years. With Muslims comprising a substantial portion of the world's population, estimated to reach nearly 30% by 2050 according to demographic projections, there is a natural market for Sharia-compliant banking and investment solutions. As incomes rise and financial literacy improves in Muslim-majority countries and beyond, more individuals and businesses are seeking financial services that align with their religious beliefs and ethical values. Moreover, the increasing affluence and urbanization among Muslim populations contribute to a greater demand for sophisticated financial products, including Islamic mortgages, savings accounts, and investment funds. This growing demand is wider than in Muslim-majority countries. Still, it extends to Muslim communities and individuals residing in non-Muslim-majority countries, as well as non-Muslims who are attracted to the ethical principles and risk-sharing mechanisms inherent in Islamic finance.

Economic Development in Muslim-majority Countries to Propel Market Growth

Economic development in Muslim-majority countries is poised to propel significant growth within the Islamic finance market. As these countries experience robust economic growth, driven by factors such as population growth, urbanization, and natural resource wealth, a corresponding demand for sophisticated financial services that comply with Islamic principles emerges. This demand stems from both individuals and businesses seeking ethical and Sharia-compliant financial solutions to meet their diverse needs. Moreover, the expanding middle class within these countries signifies an increasing appetite for diverse banking and investment products, including Islamic mortgages, savings accounts, and investment funds. As disposable incomes rise and financial literacy improves, more people are turning towards Islamic finance as a viable alternative to conventional banking, recognizing its alignment with their religious beliefs and ethical values.

Restraint Factors Of Islamic Financing Market

Limited Product Offering to Limit the Sales

The limited product offering within the Islamic finance market poses a significant challenge, potentially constraining sales and market growth. Compared to conventional banking, Islamic finance products and services are often more specialized and may only cover part of the spectrum of financial needs for individuals and businesses. This limited range of options can deter potential customers who require a broader array of financial solutions. One of the primary reasons for the limited product offering is the adherence to Sharia principles, which prohibit certain financial activities such as interest (riba) and speculative transactions (gharar). While Islamic finance emphasizes ethical and socially responsible investing, it also imposes constraints on product innovation and development, particularly in areas where conventional finance has more f...

Kuwait Exports: Africa: Islamic Non Arab Countries: Sierra Leone data was reported at 120.302 KWD th in 2017. This records an increase from the previous number of 106.745 KWD th for 2016. Kuwait Exports: Africa: Islamic Non Arab Countries: Sierra Leone data is updated yearly, averaging 4.500 KWD th from Dec 1973 (Median) to 2017, with 34 observations. The data reached an all-time high of 1,386.773 KWD th in 2011 and a record low of 0.000 KWD th in 1986. Kuwait Exports: Africa: Islamic Non Arab Countries: Sierra Leone data remains active status in CEIC and is reported by Central Statistical Bureau. The data is categorized under Global Database’s Kuwait – Table KW.JA007: Exports: by Country: Annual.

Kuwait Imports: Africa: Islamic Non Arab Countries: Niger data was reported at 1.133 KWD th in 2017. This records an increase from the previous number of 1.125 KWD th for 2016. Kuwait Imports: Africa: Islamic Non Arab Countries: Niger data is updated yearly, averaging 2.445 KWD th from Dec 1984 (Median) to 2017, with 22 observations. The data reached an all-time high of 62.626 KWD th in 2014 and a record low of 0.000 KWD th in 2011. Kuwait Imports: Africa: Islamic Non Arab Countries: Niger data remains active status in CEIC and is reported by Central Statistical Bureau. The data is categorized under Global Database’s Kuwait – Table KW.JA014: Imports: by Country: Annual.

Islamic Banking Market Outlook

According to our latest research, the global Islamic Banking market size reached USD 2.65 trillion in 2024, reflecting robust growth driven by increasing demand for Sharia-compliant financial services. The market is projected to expand at a CAGR of 8.1% from 2025 to 2033, with the total market size expected to reach USD 5.35 trillion by 2033. Key growth factors include the rising Muslim population, supportive regulatory frameworks, and a growing preference for ethical banking solutions worldwide.

A significant growth driver for the Islamic Banking market is the expanding awareness and adoption of Sharia-compliant financial products among both Muslim and non-Muslim populations. As customers globally become more conscious of ethical considerations in finance, the appeal of interest-free and risk-sharing banking models has increased. This trend is particularly evident in emerging markets across Asia and Africa, where Islamic finance principles align closely with cultural values and economic needs. Furthermore, the proactive role of governments in promoting Islamic finance through regulatory reforms and the establishment of dedicated Islamic banking windows within conventional banks has accelerated market penetration. These measures not only enhance consumer trust but also foster innovation in product offerings, making the sector more competitive and inclusive.

Technological advancements represent another pivotal growth factor for the Islamic Banking sector. The integration of digital platforms, mobile banking, and fintech solutions has enabled Islamic banks to reach underserved populations and streamline their operations. Digital transformation has reduced operational costs, improved customer experience, and facilitated the launch of innovative products such as Sharia-compliant digital wallets and online investment platforms. The adoption of blockchain technology for transparent and secure transactions further strengthens the credibility and efficiency of Islamic financial services. As a result, both established Islamic banks and new entrants are leveraging technology to capture market share, particularly among younger, tech-savvy consumers seeking convenient and ethical banking solutions.

Additionally, the global Islamic Banking market benefits from increasing cross-border investments and the internationalization of Islamic finance. Sovereign wealth funds, multinational corporations, and institutional investors are increasingly seeking Sharia-compliant investment opportunities, driving demand for products such as Sukuk (Islamic bonds) and Takaful (Islamic insurance). This globalization is supported by harmonized standards set by organizations like the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and the Islamic Financial Services Board (IFSB), which enhance transparency and interoperability across markets. As Islamic banking products gain traction in non-Muslim-majority countries, the sector is poised for sustained growth and diversification, contributing to financial inclusion and economic development on a global scale.

From a regional perspective, the Middle East & Africa remains the largest market for Islamic Banking, accounting for over 60% of the global share in 2024. However, Asia Pacific is emerging as the fastest-growing region, driven by supportive government policies in countries like Malaysia, Indonesia, and Pakistan. Europe and North America are also witnessing increased adoption of Islamic financial products, particularly among their growing Muslim populations and ethical investors. The regional diversification of the Islamic Banking market highlights its resilience and adaptability, positioning it as a key player in the global financial ecosystem.

Product Type Analysis

The Islamic Banking market by product type is segmented into Retail Banking, Corporate Banking, Investment Banking, Asset Management, and Others. Retail Banking remains the d

This paper explores the question of what explains public opinion of women empowerment in the Middle East and North Africa. Muslim societies have often been accused of conservatism toward empowerment, stripping women of equal access to education and opportunities. However, many predominantly Muslim societies in the MENA region seem to be on the way to implement change to provide women with more rights. Prior research points to exposure to diversity as a contributor to the acceptance of a more egalitarian role of women in society. This article analyzes different mechanisms of the exposure hypothesis and whether they contribute to predicting positive public perceptions of women empowerment in the region. The empirical analyses rely on public opinion data collected by the Arab Barometer in 2018–19. The descriptive findings suggest attitudinal differences across countries, but also significant gender gaps and divergences across core explanatory factors found under the umbrella of the exposure hypothesis, such as diverse urban living, keeping religion a private matter, and connecting with the world via social media. These factors seem important to shift people's minds and to pave women's long way to liberalization.

In 2022, a survey conducted in the selected African countries found that the vast majority of respondents would be fasting during Ramadan. The regional average was was 99 percent. Furthermore, the country with the highest share of people fasting was Algeria with 99.7 percent. Ramadan is the biggest religious season for Muslims, during the month communities unite on a journey of spirituality. Fasting is one of the most important parts of the Ramadan celebration. The fast is broken every evening with a communal evening meal or Iftar.

These data were collected for a study of how the characteristics of political parties influence women's chances in assuming leadership positions within the parties' inner structures. Data were compiled by Fatima Sbaity Kassem for a case-study of Lebanon and by national and local researchers for 25 other countries in Asia, Africa and Europe. The researchers collected raw data on women in politics from party administrators and government officials. Researchers gathered information about parties' year of origin, number of seats in parliament, political platform, and all gender-disaggregated party data (in percentages) on overall party membership, shares in executive and decision-making bodies, and nominations on electoral lists. A key variable measures party religiosity, which refers to the religious components on their political platforms or the extent to which religion penetrates their political agendas.

Only parties that have at least one seat in any of the last three parliaments were included. These are referred to as 'relevant' parties. The four data sets combined cover 330 political parties in Lebanon plus 12 other Arab countries (Algeria, Bahrain, Comoros, Djibouti, Egypt, Jordan, Kuwait, Mauritania, Morocco, Palestine, Tunisia, and Yemen), seven non-Arab Muslim-majority countries (Albania, Afghanistan, Bangladesh, Bosnia-Herzegovina, Indonesia, Senegal, and Turkey), five European countries with dominant Christian democratic parties (Austria, Belgium, Italy, Germany, and the Netherlands), and Israel.

Islamic Insurance (Takaful) Market Outlook

As per our latest research, the Islamic Insurance (Takaful) market size reached USD 35.7 billion in 2024, demonstrating robust momentum driven by increasing demand for Sharia-compliant financial services globally. The market is set to expand at a CAGR of 13.2% from 2025 to 2033, reaching an estimated USD 104.3 billion by 2033. This impressive growth trajectory is fueled by the rising awareness of Islamic finance principles, regulatory support, and the increasing penetration of Islamic financial products in both Muslim-majority and non-Muslim regions. As the global Islamic finance ecosystem matures, the Takaful sector is poised for substantial expansion and innovation.

The primary growth driver for the Islamic Insurance (Takaful) market is the increasing demand for ethical and Sharia-compliant insurance products. With a growing Muslim population worldwide, particularly in Asia Pacific and the Middle East, there is a significant shift towards financial solutions aligned with Islamic values. Takaful, which operates on the principles of mutual cooperation and risk-sharing, appeals to consumers seeking alternatives to conventional insurance, which may involve elements prohibited under Sharia law such as interest (riba) and uncertainty (gharar). This demand is further amplified by the rising financial literacy among consumers and the proactive efforts of governments and financial institutions to promote Islamic finance as a viable and competitive alternative to traditional financial products.

Another key factor propelling the growth of the Takaful market is the supportive regulatory environment in several core markets. Countries such as Malaysia, Saudi Arabia, and the United Arab Emirates have implemented comprehensive frameworks and guidelines that foster the development of Islamic insurance. These regulations ensure transparency, consumer protection, and Sharia compliance, thereby boosting consumer confidence and facilitating market entry for new players. Furthermore, cross-border collaborations and harmonization of standards are enabling Takaful operators to scale their offerings and tap into new markets, including regions with emerging interest in Islamic finance such as Africa and Southeast Asia. The proliferation of digital platforms and InsurTech innovations is also making Takaful more accessible and appealing, particularly to younger, tech-savvy consumers.

The increasing integration of technology within the Takaful sector is a significant catalyst for market expansion. Digital transformation, including the adoption of online distribution channels, mobile applications, and AI-driven customer engagement tools, is revolutionizing how Takaful services are delivered and consumed. These advancements not only enhance operational efficiency and reduce costs but also improve customer experience and broaden market reach. The use of big data analytics, blockchain, and smart contracts is streamlining underwriting, claims processing, and compliance monitoring, which is critical in maintaining the integrity and trust inherent in Takaful operations. As digital infrastructure continues to evolve, Takaful operators are better positioned to meet the diverse needs of individuals, SMEs, and large enterprises, further accelerating market growth.

Regionally, the Middle East & Africa and Asia Pacific remain the powerhouses of the global Takaful market, accounting for a significant share of the total premium volume. The Middle East, led by the Gulf Cooperation Council (GCC) countries, benefits from a strong Islamic banking ecosystem and supportive government initiatives. Meanwhile, Southeast Asia, particularly Malaysia and Indonesia, is witnessing rapid growth due to proactive regulatory measures and a large, underserved Muslim population. Emerging markets in Africa and South Asia are also showing promising potential, driven by increasing awareness, economic development, and regulatory reforms. In contrast, Europe and North America are experiencing gradual adoption, primarily among diaspora communities and through niche product offerings. Overall, the global outlook for the Islamic Insurance (Takaful) market is highly optimistic, with significant opportunities for innovation, expansion, and cross-border collaboration.

Type Analysis

The Takaful market is segmented by type into Family Takaful and General Takaful, each catering to distinct consumer needs and risk pr

Islamic Insurance (Takaful) Market Outlook

According to our latest research, the global Islamic Insurance (Takaful) market size reached USD 32.7 billion in 2024, demonstrating robust expansion driven by increasing demand for Sharia-compliant financial products. The market is projected to grow at a CAGR of 13.2% during the forecast period, reaching approximately USD 89.6 billion by 2033. The primary growth factor for this market is the rising awareness and acceptance of ethical and interest-free insurance solutions across both Muslim-majority and non-Muslim-majority countries. This surge in demand is further supported by favorable regulatory reforms and the growing presence of Takaful operators globally.

One of the significant growth drivers for the Islamic Insurance (Takaful) market is the increasing consumer preference for ethical and Sharia-compliant financial solutions. As awareness of Islamic finance principles expands, more individuals and businesses are seeking insurance products that align with their religious and ethical beliefs. Takaful, based on the principles of mutual cooperation and shared responsibility, offers an attractive alternative to conventional insurance, which often involves elements of uncertainty (gharar) and interest (riba) prohibited under Islamic law. This shift in consumer behavior is particularly pronounced in regions with large Muslim populations, such as the Middle East, Southeast Asia, and North Africa, but is also gaining traction in Western markets as financial inclusivity and ethical investing become more mainstream.

Another key factor fueling the growth of the Takaful market is the proactive stance of regulatory authorities in developing frameworks that support Islamic insurance operations. Governments in countries like Malaysia, Saudi Arabia, and the United Arab Emirates have introduced comprehensive regulations to ensure the soundness and transparency of Takaful operations, thereby fostering investor confidence and encouraging market entry by new players. Additionally, global standard-setting bodies such as the Islamic Financial Services Board (IFSB) and the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) are continuously working to harmonize standards, which is expected to further propel market growth by reducing operational uncertainties and facilitating cross-border expansion.

The integration of digital technologies and innovative distribution channels is also playing a pivotal role in shaping the future of the Islamic Insurance (Takaful) market. The rise of digital platforms, mobile applications, and online aggregators has made Takaful products more accessible to a broader customer base, especially among tech-savvy younger generations. Insurtech innovations are streamlining processes, enhancing customer experiences, and reducing administrative costs, thereby making Takaful solutions more competitive and appealing. The adoption of artificial intelligence, blockchain, and big data analytics is expected to further transform the market landscape, enabling Takaful operators to offer personalized products, improve risk assessment, and enhance claims management.

Regionally, the Middle East and Southeast Asia remain the largest and most dynamic markets for Islamic Insurance (Takaful), accounting for a significant share of global premiums. However, there is growing interest and market penetration in Africa, South Asia, and even parts of Europe and North America, driven by increasing Muslim populations and greater awareness of Sharia-compliant financial services. The expansion of Takaful into new geographies is being facilitated by strategic alliances, bancassurance partnerships, and the entry of multinational insurers seeking to diversify their portfolios. As a result, the global Takaful market is expected to witness accelerated growth, with emerging markets playing a crucial role in shaping its trajectory over the next decade.

Type Analysis

The Islamic Insurance (Takaful) market is broadly catego