Associated with manuscript titled: Fifty Muslim-majority countries have fewer COVID-19 cases and deaths than the 50 richest non-Muslim countriesThe objective of this research was to determine the difference in the total number of COVID-19 cases and deaths between Muslim-majority and non-Muslim countries, and investigate reasons for the disparities. Methods: The 50 Muslim-majority countries had more than 50.0% Muslims with an average of 87.5%. The non-Muslim country sample consisted of 50 countries with the highest GDP while omitting any Muslim-majority countries listed. The non-Muslim countries’ average percentage of Muslims was 4.7%. Data pulled on September 18, 2020 included the percentage of Muslim population per country by World Population Review15 and GDP per country, population count, and total number of COVID-19 cases and deaths by Worldometers.16 The data set was transferred via an Excel spreadsheet on September 23, 2020 and analyzed. To measure COVID-19’s incidence in the countries, three different Average Treatment Methods (ATE) were used to validate the results. Results published as a preprint at https://doi.org/10.31235/osf.io/84zq5(15) Muslim Majority Countries 2020 [Internet]. Walnut (CA): World Population Review. 2020- [Cited 2020 Sept 28]. Available from: http://worldpopulationreview.com/country-rankings/muslim-majority-countries (16) Worldometers.info. Worldometer. Dover (DE): Worldometer; 2020 [cited 2020 Sept 28]. Available from: http://worldometers.info

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.

The average for 2013 based on 46 countries was 43.9 percent. The highest value was in Algeria: 100 percent and the lowest value was in Angola: 0 percent. The indicator is available from 1960 to 2013. Below is a chart for all countries where data are available.

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 2023, it was estimated that approximately ** percent of the Indonesian population were Muslim, accounting for the highest share of Muslims in any Southeast Asian country. Indonesia also has the world's largest Muslim population, with an estimated *** million Muslims. Demographics of Indonesia The total population of Indonesia was estimated to reach around *** million in 2028. The median age of the population in the country was at an all-time high in 2020 and was projected to increase continuously until the end of the century. In 2020, the population density in Indonesia reached its highest value recorded at about ***** people per square kilometer. Shopping behavior during Ramadan in Indonesia Nearly all Muslims in Indonesia celebrated Ramadan in 2022. During the month of Ramadan, ** percent of Indonesian users utilized online applications to order food. Many Indonesians planned to shop online or offline during Ramadan, with around ** percent of online users planning to purchase fashion wear and accessories. Shopee was the most used app for shopping purposes during that period.

This statistic shows the estimated number of Muslims living in different European countries as of 2016. Approximately **** million Muslims were estimated to live in France, the most of any country listed. Germany and the United Kingdom also have large muslim populations with **** million and **** million respectively.

Egypt: Sunni Muslims as percent of the total population: The latest value from 2013 is 90 percent, unchanged from 90 percent in 2012. In comparison, the world average is 64.3 percent, based on data from 32 countries. Historically, the average for Egypt from 1960 to 2013 is 90.9 percent. The minimum value, 90 percent, was reached in 2004 while the maximum of 92 percent was recorded in 1960.

Taiwan: Muslims as percent of the total population: The latest value from 2013 is 0 percent, unchanged from 0 percent in 2012. In comparison, the world average is 34.3 percent, based on data from 128 countries. Historically, the average for Taiwan from 1960 to 2013 is 0.2 percent. The minimum value, 0 percent, was reached in 1969 while the maximum of 1 percent was recorded in 1960.

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.

Brazil: Muslims as percent of the total population: The latest value from 2013 is 0 percent, unchanged from 0 percent in 2012. In comparison, the world average is 34.3 percent, based on data from 128 countries. Historically, the average for Brazil from 1960 to 2013 is 0 percent. The minimum value, 0 percent, was reached in 1960 while the maximum of 0 percent was recorded in 1960.

Turkey: Muslims as percent of the total population: The latest value from 2013 is 99 percent, unchanged from 99 percent in 2012. In comparison, the world average is 34.3 percent, based on data from 128 countries. Historically, the average for Turkey from 1960 to 2013 is 99 percent. The minimum value, 99 percent, was reached in 1960 while the maximum of 99 percent was recorded in 1960.

Mexico: Muslims as percent of the total population: The latest value from is percent, unavailable from percent in . In comparison, the world average is 0.0 percent, based on data from countries. Historically, the average for Mexico from to is percent. The minimum value, percent, was reached in while the maximum of percent was recorded in .

India Census: Population: by Religion: Muslim: Urban data was reported at 68,740,419.000 Person in 2011. This records an increase from the previous number of 49,393,496.000 Person for 2001. India Census: Population: by Religion: Muslim: Urban data is updated yearly, averaging 59,066,957.500 Person from Mar 2001 (Median) to 2011, with 2 observations. The data reached an all-time high of 68,740,419.000 Person in 2011 and a record low of 49,393,496.000 Person in 2001. India Census: Population: by Religion: Muslim: Urban data remains active status in CEIC and is reported by Census of India. The data is categorized under India Premium Database’s Demographic – Table IN.GAE001: Census: Population: by Religion.

WorldPop produces different types of gridded population count datasets, depending on the methods used and end application. Please make sure you have read our Mapping Populations overview page before choosing and downloading a dataset.

Datasets are available to download in Geotiff and ASCII XYZ format at a resolution of 30 arc-seconds (approximately 1km at the equator)

-Unconstrained individual countries 2000-2020: Population density datasets for all countries of the World for each year 2000-2020 – derived from the corresponding Unconstrained individual countries 2000-2020 population count datasets by dividing the number of people in each pixel by the pixel surface area. These are produced using the unconstrained top-down modelling method.
-Unconstrained individual countries 2000-2020 UN adjusted: Population density datasets for all countries of the World for each year 2000-2020 – derived from the corresponding Unconstrained individual countries 2000-2020 population UN adjusted count datasets by dividing the number of people in each pixel, adjusted to match the country total from the official United Nations population estimates (UN 2019), by the pixel surface area. These are produced using the unconstrained top-down modelling method.

Data for earlier dates is available directly from WorldPop.

WorldPop (www.worldpop.org - School of Geography and Environmental Science, University of Southampton; Department of Geography and Geosciences, University of Louisville; Departement de Geographie, Universite de Namur) and Center for International Earth Science Information Network (CIESIN), Columbia University (2018). Global High Resolution Population Denominators Project - Funded by The Bill and Melinda Gates Foundation (OPP1134076). https://dx.doi.org/10.5258/SOTON/WP00674

Dominica: Muslims as percent of the total population: The latest value from is percent, unavailable from percent in . In comparison, the world average is 0.0 percent, based on data from countries. Historically, the average for Dominica from to is percent. The minimum value, percent, was reached in while the maximum of percent was recorded in .

WorldPop produces different types of gridded population count datasets, depending on the methods used and end application. Please make sure you have read our Mapping Populations overview page before choosing and downloading a dataset.


Bespoke methods used to produce datasets for specific individual countries are available through the WorldPop Open Population Repository (WOPR) link below. These are 100m resolution gridded population estimates using customized methods ("bottom-up" and/or "top-down") developed for the latest data available from each country. They can also be visualised and explored through the woprVision App.
The remaining datasets in the links below are produced using the "top-down" method, with either the unconstrained or constrained top-down disaggregation method used. Please make sure you read the Top-down estimation modelling overview page to decide on which datasets best meet your needs. Datasets are available to download in Geotiff and ASCII XYZ format at a resolution of 3 and 30 arc-seconds (approximately 100m and 1km at the equator, respectively):

- Unconstrained individual countries 2000-2020 ( 1km resolution ): Consistent 1km resolution population count datasets created using unconstrained top-down methods for all countries of the World for each year 2000-2020.
- Unconstrained individual countries 2000-2020 ( 100m resolution ): Consistent 100m resolution population count datasets created using unconstrained top-down methods for all countries of the World for each year 2000-2020.
- Unconstrained individual countries 2000-2020 UN adjusted ( 100m resolution ): Consistent 100m resolution population count datasets created using unconstrained top-down methods for all countries of the World for each year 2000-2020 and adjusted to match United Nations national population estimates (UN 2019)
-Unconstrained individual countries 2000-2020 UN adjusted ( 1km resolution ): Consistent 1km resolution population count datasets created using unconstrained top-down methods for all countries of the World for each year 2000-2020 and adjusted to match United Nations national population estimates (UN 2019).
-Unconstrained global mosaics 2000-2020 ( 1km resolution ): Mosaiced 1km resolution versions of the "Unconstrained individual countries 2000-2020" datasets.
-Constrained individual countries 2020 ( 100m resolution ): Consistent 100m resolution population count datasets created using constrained top-down methods for all countries of the World for 2020.
-Constrained individual countries 2020 UN adjusted ( 100m resolution ): Consistent 100m resolution population count datasets created using constrained top-down methods for all countries of the World for 2020 and adjusted to match United Nations national population estimates (UN 2019).

Older datasets produced for specific individual countries and continents, using a set of tailored geospatial inputs and differing "top-down" methods and time periods are still available for download here: Individual countries and Whole Continent.

Data for earlier dates is available directly from WorldPop.

WorldPop (www.worldpop.org - School of Geography and Environmental Science, University of Southampton; Department of Geography and Geosciences, University of Louisville; Departement de Geographie, Universite de Namur) and Center for International Earth Science Information Network (CIESIN), Columbia University (2018). Global High Resolution Population Denominators Project - Funded by The Bill and Melinda Gates Foundation (OPP1134076). https://dx.doi.org/10.5258/SOTON/WP00645

Islamic Finance Market Size

The global Islamic Finance market is anticipated to expand rapidly, reaching an estimated value of USD 12.5 Trillion by 2033, up from USD 2.2 Trillion in 2023. This remarkable growth reflects a strong CAGR of 18.4% over the forecast period from 2024 to 2033. The expansion of the market is being driven by rising global interest in Sharia-compliant financial products, supported by growing populations in Muslim-majority countries and increased awareness of ethical finance principles.

In 2024, the Middle East and Africa (MEA) region maintained a commanding lead in the Islamic Finance sector, capturing over 53.4% of the global market, with revenues reaching approximately USD 1.1 Trillion. This dominance is strongly supported by deep-rooted cultural alignment, well-established Islamic banking institutions, and supportive regulatory frameworks in countries such as Saudi Arabia, the United Arab Emirates, and Malaysia.

As highlighted by Global Finance Magazine, the Islamic finance industry has reached a valuation of USD 3.9 trillion, with a presence in more than 80 countries, yet it remains highly concentrated, with nearly 95% of all Sharia-compliant assets held within just 10 markets. This geographic concentration underscores the pivotal role of a few economies in shaping the direction and growth of the global Islamic finance sector.

Saudi Arabia and Iran collectively dominate the industry, each accounting for an estimated 25% to 30% of total global assets. These two countries serve as anchors for Islamic financial activity, driven by longstanding institutional frameworks, deep-rooted religious practices, and government-backed Islamic banking systems. Malaysia, widely regarded as a global leader in Islamic capital markets, holds approximately 12% of total Sharia-compliant assets, supported by progressive regulation and innovation in sukuk issuance and halal investment products.

The United Arab Emirates maintains a strong foothold with around 10%, leveraging its position as a regional financial hub. Other key contributors include Kuwait and Qatar, each with about 5.5%, and Türkiye and Bahrain, with 3.5% apiece. Indonesia and Pakistan, despite their large Muslim populations, represent a smaller share - roughly 2% each - due to slower adoption and regulatory evolution.

Over the past decade, the Islamic finance sector has achieved an average annual growth rate of 10%, reflecting consistent demand for ethical, interest-free financial solutions. According to the 2023 State of Global Islamic Economy report, the total value of Islamic finance assets is projected to rise to approximately USD 5.95 trillion by 2026. However, this trajectory is highly dependent on the economic resilience and political stability of the aforementioned top 10 countries, which will remain central to the industry's global footprint in the coming years.

In 2019, the number of Islamic banks in Iran amounted to **. In the same year, the Islamic banking assets in Iran amounted to *** billion U.S. dollars and the total Islamic banking assets amounted to *** trillion U.S. dollars.

According to Cognitive Market Research, the global Islamic Financing market size will be 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 mo...