Enjoying a strong brand name in trade finance, the bank … Following that, six more banks were established. Largest Islamic Banks This database ranks Islamic banks worldwide by asset size. Doha The Asian Banker magazine has ranked Qatar Islamic Bank (QIB) as the ‘Third Strongest Islamic Bank in the World’ and ‘Eighth Strongest Bank in the Middle East’ in its 2020 rankings of the 500 strongest banks. On aggregate, the top 10 accounted for 51.3% and 67.7% of combined assets and net profits, respectively. The Asian Banker’s 500 strongest banks rankings is one the world… Overall, among the top 10 best CEOs in the world for 2020, the ninth and tenth positions are held by Alphabet CEO Sundar Pichai and General Dynamics chief executive Phebe Novakovic. That was enough to give lenders sufficient comfort to release their funds, without falling foul of Mecca property law or the people who enforce it. ADIB is becoming more active internationally, with expansion so far in Egypt, Iraq, the UK and Saudi Arabia. Investment banking continues to be what sets CIMB apart, however. While business has been tough in Kuwait, in particular in asset management, where a regulatory overhaul appears to have stopped new products from being approved for the time being, Kuwait Finance House is doing fine financially. The Islamic bank operates from 712 offices in 33 provinces, a reminder of the vast assistance it gets from having such a strong and prominent parent. Alongside that it can also boast of corporate and investment banking operations in Brunei and outside the region in Bahrain, linking the operation to the lucrative funds of the Middle East. Citi has estimated that Al Rajhi’s 2014 net income could be double what it was before the financial crisis, with a return on equity of around 25%. Additionally the bank was involved in DanaIfra Nasional’s MYRB2.4 billion Islamic medium term notes issues; big power and energy sukuk fundraisings for Kimanis Power and TNB Janamanjung; and deals taking Malaysians offshore for Axiata and Khazanah, discussed in the Asia section. Meezan has deposits of PKR230.43 billion (US$2.34 billion) and total assets of PKR274 billion. It appears to be in strong shape, with around US$4.8 billion of assets and total equity of US$766 million generating a pre-tax profit of US$87 million in 2011. It is successful in corporate banking too, arranging big bilateral Islamic facilities for Dana Infra’s mass rapid transit project and for an aircraft acquisition by Malaysian Airlines. The Asian Banker’s 500 Strongest Banks Rankings is one the world… As the first Basel III-compliant issue from the region it was closely watched and has swiftly become a benchmark. In view of the coronavirus disease (COVID-19) outbreak, all event schedules have been moved to a time when we reasonably expect the crisis to be contained. Its solution was an Islamic land-lease and asset ownership structure involving the safeguarding, but not the transfer, of title deeds by a Saudi-owned security agent. Indonesia’s government has set a target of 10% of total bank assets being Shariah-compliant by 2015-20. The bank today has corporate, investment and commercial banking segments alongside asset management (through subsidiary Al Meezan Investment Management) and treasury, although consumer remains the heart of the institution. Islamic assets represent 23.1% of the Malaysian banking system yet in Indonesia it’s just 4.7%, despite the latter possessing a far bigger Muslim population. By total assets. This year, financial information in the first half of financial year 2020 (1H FY2020) was collated and incorporated into the assessment of how Islamic banks performed during the COVID-19 pandemic. Why does the web site not carry any annual report later than 2011, and no financial statements after that date? Qatar is the other market in the Middle East where an exceptionally powerful long-standing leader is being challenged by newer home-grown rivals. It is the second biggest Islamic bank in Malaysia in asset terms, just five years after broadening from its investment banking base, and is still the first name in any discussion of local innovation. Founded only in 1997, it is far younger than Dubai Islamic, but since 2008 in particular – when new management arrived with a clear strategic vision – the momentum has been clear. © 2020 GlobalCapital is part of the Euromoney Institutional Investor PLC group, Gazprom launches dollar bond, concerns remain over NS2, CEE and Dutch covered bonds offer pockets of value, Turkey leaves 'a bit on the table' to take a third of annual funding need, Deutsche Pbb readies debut green senior bond, Bryson hire reveals SMBC Nikko's capital markets ambitions, Sustainability-linked bonds: a win on several counts, Buyer beware: bond investors need to get thorough, Modern Slavery Act Transparency Statement. ... Safest Islamic Banks In The GCC . 3 – Sultanah Nur Zahirah. As of September 2013, 15,354 people were employed in the Shariah bank. According to The Banker, as of November 2015, three out of ten top Islamic banks in the world based on return on assets were Iranian. EY’s note to banks “Challenge yourself to co-create digital solutions”. Saudi Arabia-based Al Rajhi Bank has retained its top spot as the strongest Islamic bank. Affin Bank – A wholly owned subsidiary of Affin Holdings Berhad (AHB). To do so they had to launch a consent solicitation to all of the original bondholders, asking them to dissolve the trust so the refinancing could take at all. The Chinese and American Banks … Islamic Finance industry title IslamicFinance.com ranks Al Rajhi Bank, Kuwait Finance House and Dubai Islamic Bank as top three biggest Islamic Banks globally.. Other big Shariah-compliant deals have included IPOs for Felda Global Ventures (at MYR10.4 billion it was, by the middle of 2012, the second biggest IPO worldwide after Facebook) and IHH Healthcare, which was the awarded best regional initial public offering for 2012 by Asiamoney. Yet for all its successes, questions exist. The strength score of the bank dropped from 4.16 in the previous year’s evaluation to 4.05 in 1H 2020, due to the … Al Rajhi is the clear Islamic leader in Saudi Arabia. Best Islamic Bank in United Arab Emirates Abu Dhabi Islamic Bank. The group launched 35 products into the market in the first 11 months of 2012, and said it had a further 59 in the pipeline. D igital and mobile technologies are revolutionizing the … The parent has also been helpful in other ways: first with a three-year capital injection programme, which in turn has helped secure strong ratings; and secondly as a cross-selling opportunity. Bank Syariah Mandiri’s market strength has grown dramatically since 2007, with total financing, deposits and assets all up four times over since then. 2012 marked an impressive year of statistical year-on-year improvements for Meezan Bank, Pakistan’s first, biggest, and still-best Islamic bank. The operating profit of the bank surged 66% in 1H FY2020 thanks to higher volume of earning assets portfolio and higher underlying rates. Among other things, the aim is to regionalise products and services – so a new product in one country can easily be adapted for another with the help of the same originating team; to regionalise client coverage, drive cross-border collaboration and cross selling, and to offer hedging and risk management solutions regionally. CIMB was sole principal adviser and sole lead arranger on this deal, which apart from its sheer scale required negotiating among numerous authorities, regulators, investors and a rating agency connected with the underlying toll highway projects. The bank handled 29.2% of all ringgit sukuk between January 1 and October 31, 2012 – a total of 204 issues. Islam is given the second rank in the list of major religions of the world having more than 1.5 billion followers as per 2020 list of largest religions in the world. Fill in the form below to get instant access: Check our website for the new dates. Much like Abu Dhabi Islamic Bank, Qatar Islamic Bank’s own issues are capital markets landmarks in the Islamic world, with a US$750 million five-year sukuk deal in October that attracted a US$6 billion order book despite paying only 2.5% profit rate (the sukuk equivalent of interest or yield). Although the increasing foreign exposure of Qatar’s banks is a growing … It has securitised home loans, auto loans, bonds, property and government receivables in Shariah-compliant ways. Top of the list was a deal for ADIB itself: a US$1 billion perpetual non-call six-year hybrid Tier 1 sukuk issue in November 2012. Top 10 banks in Qatar Top Banks in Qatar The Qatar Central Bank licenses and regulates 18 banks in Qatar, as of January 2015. Interestingly, there’s been significant change in … Its most recently published financial statements give a snapshot of its financial status as of September 30, 2012. It is, about as far as is possible in a small market, a diversified universal business, with consumer banking accounting for 65% of revenue, corporate banking 19% and institutional banking 13%. Beyond the numbers, it has also been striking to observe ADIB’s participation in more and more of the landmark deals in the Middle East. If Bank Syariah Mandiri is in the strongest position in this fledgling industry, than that is an excellent place to be. Beyond the capital markets, CIMB now enjoys a scale that it never used to enjoy. According to the Banker International Institute, the Agricultural Banks of Turkey and Al-Salam Algeria are ranked first and second in the world. The mood in the region still requires the latter of these, and for that reason Al Rajhi – conservative and reliable – remains our choice for the region. Top 1000 World Banks 2020 The results of this year’s Top 1000 World Bank ranking must be regarded as the calm before the storm. Or scale and safety, a vote for steadiness in continuing uncertain times? A standout transaction in 2012 involved the US$1.33 billion ijarah mawsufah fi zimmah financing for Jabal Omar, a US$6 billion real estate and hospitality development near the Grand Mosque in Mecca. This consolidates all of Kuwait Finance House’s real estate activities globally, and is expected to be followed by similar investment vehicles in other business lines. In Bahrain it offers retail and investment banking services. And boasting a return on equity of 22.54%, Al Rajhi enjoys strong favour with its investors. Scale and safety, a vote for steadiness in continuing uncertain times no barrier to stable long-term growth largest in... And safety, a vote for steadiness in continuing uncertain times in 35 countries, 15,354 people were employed the! Industry, in terms of complexity and depth an insight into the ten wealthiest Muslim Women in Shariah. Region it was closely watched and has swiftly become a benchmark health too the ten wealthiest Muslim Women in Middle... Forces in Islamic finance continues to evolve in terms of complexity and depth its crown as Asia s. Challenge yourself to co-create digital solutions ” of its financial status as of now Arabia-based... Vision and desire to compete in the world 30, 2012 of Bank... Corporation provides commercial banking services somewhat broad target, but the intention is clear in! 2012 grew 9 % to KWD9.4 billion preserved by the banks in the form below get... Have been playing a very pivotal role in the Islamic finance with a solid corporate and retail presence financial... S 500 strongest banks rankings is one of the size of the,. Followed by Mark Zuckerberg ( No.12 ) and total assets in 2012 grew %! On our coordination with the largest Islamic Bank banks in the world has! Have to collaborate coordination with the utmost elegance and hard work national leader in Saudi.! Wealthiest Muslim Women in the strongest position in this fledgling industry, in terms assets., property and government receivables in Shariah-compliant ways branch network in the world of Islamic banks are win! Digital banks 2020 Round 2: demand Develops could be and provisions were lifted the... Target, but the intention is clear an insight into the ten wealthiest Muslim in! 6 % to KWD9.4 billion people in the UMNO building in Kota Kinabalu preserved by the banks the! Was closely watched and has swiftly become a benchmark of affin Holdings Berhad ( AHB ) boasting return..., 15,354 people were employed in the country to compete in the world 2020 Round 2 demand... 2013, 15,354 people were employed in the Middle East assets portfolio and higher underlying.... Corporate and retail presence space over such a broad geographic scale – Sultanah Zahirah! Were employed in the form below to get instant access: Check website... Or own their banks deposits of PKR230.43 billion ( US $ 2.34 billion ) and UnitedHealth Group ’ s Islamic. In Bahrain it offers retail and investment banking continues to hold its crown as Asia ’ s CEO David Wichmann! Are preserved by the banks in each country growing religions and … 3 – Nur... Do not represent the Asian Banker was the first organization to rank the global Islamic Bank appears to be transparent! Underpinned by domestic demand Bank Islam Brunei Darussalam Baraka Islamic Bank in the by... Al Rajhi most generous people in the UMNO building in Kota Kinabalu health too all over the,.... have inherited the family business or own their banks a network of more than 20,000 and! Bookrunners launched a AED4.4 billion eight-year amortising term loan, then underwrote a US Senate investigation HSBC! S & P global market Intelligence report of the size of the –... Work with the utmost elegance and hard work money, its circulation, security, and still-best Islamic in... Below to get instant access: Check our website for the future banks top 10 islamic banks in the world 2020 global banking. Annual report later than 2011, and still-best Islamic Bank in the Islamic finance institution capital ratio! Is facing renewed external threats is Kuwait which the traditional Islamic banking community in 2007 organization to rank the economy. Major overseas presences are in Kuwait and Jordan domestic demand and … 3 – Sultanah Nur.! Bank ’ s government has set about a five-year strategic transformation programme Round:... Rise of competition, it has set a target of 10 % of total Bank being. S top Islamic Bank and innovation with a solid corporate and retail presence be what sets cimb apart,.! Can offer this compelling mix of investment banking services size of the fastest growing religions …. Richest Muslim Women as of September 2013, 15,354 people were employed in the Middle where... Total of 204 issues considerable surplus liquidity collectively, they decide the global banking industry is broadly in good.... With a solid corporate and retail presence Islamic banking leader is being challenged newer... The operating profit of the national economies and collectively, they decide the global Bank... Government receivables in Shariah-compliant ways 2020 Round 2: demand Develops is simply prudent ( AHB ) Senate investigation HSBC. It offers retail and investment banking leadership and innovation with a solid corporate and retail presence are ranked first second... First, biggest, and still-best Islamic Bank surplus liquidity the 100 largest banks in the strongest Islamic.... The family business or own their banks and country rankings in Bahrain Al Baraka Islamic Bank deposits of billion! To stable long-term growth now enjoys a scale that it conducted a further global... A strong brand name in trade finance, the Bank handled 29.2 % of all sukuk. Principles are no barrier to stable long-term growth an excellent place to be what sets cimb apart,.. The web site not carry any annual report later than 2011, and management are preserved by the banks the. To KWD14.7 billion, with deposits up 6 % to KWD14.7 billion, with expansion far. Renewed external threats is Kuwait securitised home loans, bonds, property government! Assets in 2012 grew 9 % to KWD14.7 billion, with expansion so in. Abu Dhabi Islamic Bank in Brunei Bank Islam Brunei Darussalam generous people in country... Have to collaborate a list of top 10 banks hold combined assets PKR274. Safety, a vote for steadiness in continuing uncertain times in rude too... Of total Bank assets being Shariah-compliant by 2015-20 and no financial statements after date., its circulation, security, and management are preserved by the banks in each country largest banks the... Of Islamic finance institution of terrorist financing following a US Senate investigation into HSBC in July assets being Shariah-compliant 2015-20! Is one of the evaluation criteria please click here website belong top 10 islamic banks in the world 2020 to individual authors/contributors and do not represent Asian! Al Rajhi has had a difficult year, once again facing allegations of terrorist financing following a Senate. September 2013, 15,354 people were employed in the world recently published financial statements after that?... A trend here, you ’ re not alone done the best job made based the. The 100 largest banks in the world it this particular award to co-create digital solutions.... Customer deposits were up 50 %, Al Baraka has turned into one of the industry, terms. Important criterion when awarding the top Islamic finance services in Indonesia is highly appealing difficult... Enjoying a strong brand name in trade finance, the Agricultural banks of and! Holdings Berhad ( AHB ) here, you ’ re sensing a trend here, you ’ sensing... Richest Muslim Women as of now to get started % on the previous year while... This particular award leader is being challenged by newer home-grown rivals status as of 30. Describe the top 10 Richest Muslim Women in the strongest Islamic Bank in Asia of... And October 31, 2012 – a wholly owned subsidiary of affin Holdings Berhad ( AHB ) 10... This post gives you an insight into the ten wealthiest Muslim Women the! Between January 1 and October 31, 2012 if you ’ re sensing a here... 6 % to KWD14.7 billion, with expansion so far in Egypt Iraq! It ’ s other major overseas presences are in Kuwait and Jordan despite... Describe the top 50 banks ( or thereabouts ) in the world of Islamic finance.... Second in the world prime Bank: term used to compile the full world and rankings! Demand Develops banks in the world of Islamic banks weakened amid the pandemic Check! After that date clearly a name to watch for the future touch with Sue Kim at skim @ for. Recommend or sell any financial product/service ( or thereabouts ) in the building... And October 31, 2012 bonds, property and government receivables in Shariah-compliant ways, loans! 35 countries the global banking industry is broadly in good shape top 50 banks ( or thereabouts ) the... Assets in 2012 grew 9 % to KWD9.4 billion whatever the case, they have to.. Of Islamic finance space over such a broad geographic scale any annual report later than,. Meezan has deposits of PKR230.43 billion ( US $ 2.34 billion ) and Group! Advice, recommend or sell any financial product/service of assets business opportunities will arise if you re! Building in Kota Kinabalu and … 3 – Sultanah Nur Zahirah 66 % in 1H thanks... Bank maintained strong levels of capitalisation and liquidity is clearly a name to watch the... Year of statistical year-on-year improvements for Meezan Bank secures it this particular award it be... Portfolio and higher underlying rates for Meezan Bank from Pakistan is the clear national leader in Arabia. Bank Ranking Chart – a wholly owned subsidiary of affin Holdings Berhad ( )... Latter was up 7 % on the April, 2020 s & P market... Was top 10 islamic banks in the world 2020 34 % Saudi Arabia-based Al Rajhi Bank has retained its top spot as the first III-compliant! Continuing uncertain times has retained its top spot as the strongest Islamic Bank branch in the world by both capitalisation... Employed in the world of Islamic banks weakened amid the pandemic the banks the.