This bank may lack Al Rajhi’s financial strength, being rated ‘BBB-‘ by Standard & Poor’s, but Al Baraka is growing fast and has an impressive asset base for its breadth, with US$19 billion in assets by the end of 2012. 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. Top 10 Richest Muslim Women in the World 2020 Updated List. A more recent investor presentation from February 2013 lists total assets in Bank Syariah Mandiri at IDR54.2 trillion, total deposits of IDR47.4 trillion and a return on equity of 25.04% – good business. To put that into context, the 11 banks offering Shariah-compliant financial services in Indonesia had IDR199.7 trillion in assets between them by the end of 2012, putting Mandiri at about a quarter of the market. The State Bank of India is the largest commercial bank in India. Total assets were up 14% year on year in 2012 to AED85.7 billion, with customer financing up 11%, customer deposits 13%, capital resources 23%, revenues 13% and net profits 9%; the return on shareholders’ equity in 2012 was 17.7%, with a total capital adequacy ratio of 21.4% and a Tier 1 ratio of 18.4%. One other thing: many Islamic institutions look well-placed for growth but don’t produce the best investor relations material (witness Bank Syariah Mandiri, although its parent is better). Separating the contribution of Bank Syariah Mandiri from the whole Bank Mandiri group is tricky in quarterly announcements and only fully extrapolated when annual reports come out. November 23, 2020. We cover banks in all countries with Islamic banks including western and non-Islamic … In recent years Abu Dhabi Islamic Bank (ADIB) has embodied efficiency and ambition. Indonesia is the heart of it, and will continue to be; CIMB’s stake in Bank Niaga was the foundation for CIMB Niaga Syariah, which so far focuses on middle-to-high-net-worth individuals and business banking. 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. There were 505 Islamic banks in 2017, including 207 Islamic Banking windows. As a result it dominates with the largest Islamic branch network in the country. The latter was up 7% on the previous year, while its banking revenue was up 34%. 3 – Sultanah Nur Zahirah. Sultanah Nur Zahirah (Rozita binti Adil Bakeri), born 7 December 1973, is … The government-owned corporation provides commercial banking services all over the world. Also, perhaps sensing the rise of competition, it has set about a five-year strategic transformation programme. Sharia principles are no barrier to stable long-term growth. Best Islamic Bank in Kuwait Kuwait Finance House. Saudi Arabia-based Al Rajhi Bank has retained its top spot as the strongest Islamic bank. Best Islamic Bank in Indonesia Bank Syariah Mandiri. It is active now in 15 countries through 400 branches, including a strong presence across North Africa, while it has ventured as far east as Iraq. World’s Best Digital Banks 2020 Round 2: Demand Develops . The Malaysian banking sector consist of 27 commercial banks (including 19 licensed foreign banks), 11 investment banks, 18 Islamic banks as well as non-bank financial institutions. Changes are made based on our coordination with the local industry players. Lacking competition, BIBD has not felt the necessary impetus to be as transparent as perhaps it could be. All this in a rare buoyant economy underpinned by domestic demand. 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. Al Rajhi also has the largest network of branches and ATMs (500 and 3,100 respectively), with 25,000 point of sale locations, in order to serve that base. The Bank … This would never happen in conventional finance, but Islamic finance requires a genuine, physical underpinning asset, and it can’t be pledged to two deals at once. Yet for all its successes, questions exist. Kuwait Finance House is instrumental to the fabric of financial services in Kuwait, and in particular Islamic finance, but it must be watching the rise of Boubyan Bank – backed by National Bank of Kuwait – closely. . For a full explanation of the evaluation criteria please click here. The bookrunners launched a AED4.4 billion eight-year amortising term loan, then underwrote a US$650 million Regulation S sukuk. Beyond the capital markets, CIMB now enjoys a scale that it never used to enjoy. Among the top 10 banks and the world's most full Islamic institutions, there are three banks from Iran, from Turkey, Kuwait, Bangladesh, Sudan, Oman and Syria each ranked as the top banks… Whether banks are your competitors, counterparties or clients, you need the Top 1000 World Banks 2020 … It is also the leading structured product house in Malaysia. However, the number of players is not necessarily indicative of the size of the industry, in terms of assets. In the main, the bank lets its assets speak for it: SAR247.2 billion (US$65.92 billion) on September 30, with net profit of SAR7.885 billion in 2012. * FY2019 data 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. Nevertheless, the bank still maintained healthy asset quality and robust capitalisation, and recorded a high ROA of 2.4% and a low cost to income ratio of 33%. The four largest banks are headquartered in China. Copying and distributing are prohibited without permission of the publisher. Industrial and Commercial Bank Of China Ltd. (IDCBY) Revenue (TTM): $123.6B. The operating profit of the bank surged 66% in 1H FY2020 thanks to higher volume of earning assets portfolio and higher underlying rates. *The World Islamic Banking Conference 2016, which will be held at Art Rotana Amwaj Bahrain from December 5-7, will address issues in Islamic … Bank Syariah Mandiri’s market strength has grown dramatically since 2007, with total financing, deposits and assets all up four times over since then. Shortly afterwards, it arranged a €500 million (US$638.56 million) revolving murabaha financing facility for Qatar Telecom, the first Islamic finance deal the telco had signed, demonstrating Qatar Islamic Bank’s ability to boost Islamic finance in its home country. Annual deposits and other accounts soared 36% during calendar year 2012; Islamic financing and related assets were up 26%; investments increased 55%; total assets expanded 37%; shareholders’ equity rose 16%. Aside from being the clear leader in Malaysian sukuk, or Islamic bonds, discussed in detail in the Malaysia category, the bank also lead managed 15.7% of all global sukuk in the year to October 31, handling 192 global issues. Customer deposits were up 50%, while capital adequacy ratios improved and provisions were lifted. Our award for the United Arab Emirates’ standout Islamic bank changes hands this year, with an Abu Dhabi institution replacing a Dubai one. Qatar is the other market in the Middle East where an exceptionally powerful long-standing leader is being challenged by newer home-grown rivals. CIMB Niaga itself is the fifth largest bank in Indonesia, providing a suitable bedrock upon which to build a Shariah, or Islamic law-compliant financial business that should make the most of Indonesia’s vast, and insufficiently tapped, potential for Islamic finance. ICBC (Industrial and Commercial Bank of China), a state-owned financial institution, is the world’s biggest bank by total assets and deposits. 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. It has advised governments on Islamic finance frameworks particularly around domestic capital markets in Indonesia, Thailand, Singapore, South Korea, Hong Kong and the UK, relationships that now stand the group in good stead for expansion. D igital and mobile technologies are revolutionizing the … According to the Banker International Institute, the Agricultural Banks of Turkey and Al-Salam Algeria are ranked first and second in the world. ADIB was also a bookrunner on the Jebel Ali Free Zone refinancing, one of the most important deals of the year in the Middle East region. Citigroup CEO Michael Corbat took the No. In a mode of continuing expansion – its branch network went from 275 to 310 during 2012 – profit growth has been tempered by expenses, but still both net profit and earnings per share were up 3% in 2012. Gulf based banks dominate Global Islamic Bank Ranking Chart. If you’re sensing a trend here, you’re not alone. © 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 . Pakistan is still not the easiest market in which to do business; an NPL ratio of 5.3% in 2012 is an improvement on 6.14% the previous year, but it still speaks of weak creditworthiness in parts of the book. 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 increase in gross non-performing loan (NPL) ratio from 0.85% to 1.02% and loan to deposit ratio from 79% to 82%, along with the drop in profit growth. Enjoying a strong brand name in trade finance, the bank … Largest Islamic Banks This database ranks Islamic banks worldwide by asset size. It has securitised home loans, auto loans, bonds, property and government receivables in Shariah-compliant ways. Here is a list of top 10 banks in the world 2020. Best Islamic Bank in United Arab Emirates Abu Dhabi Islamic Bank. In February it reported a 9% year-on-year rise in net profit for 2012, at KWD87.7 million (US$306.97 million), with its capital adequacy ratio up to 14%. It is clearly a name to watch for the future. Malaysia, Saudi Arabia, the UAE, Qatar and Kuwait are the largest markets in terms of the Islamic bank assets, with their aggregate assets representing 79% of the combined assets of the 100 largest Islamic banks. It is the largest bank, conventional or Islamic, by market value, anchored on a peerless Islamic retail business based on the trust of millions of Saudi Arabian families. With a total combined donation amount of $106.8 billion, these 20 individuals are the top philanthropists in the world All Rights Reserved. As the first Basel III-compliant issue from the region it was closely watched and has swiftly become a benchmark. Beyond that, in addition to the market-leading Malaysian franchise, there is a genuine regional footprint now, reflected in the 48% growth in total assets for CIMB Islamic between 2007 and 2011. The information available on this date is used to compile the full world and country rankings. Among CIMB’s recent highlights was the world’s largest ever sukuk to date: a MYR34.35 billion (US$11.08 billion) Islamic medium term note programme from Projek Lebuhraya Usahasama (PLUS), the highway group. 9455**2050 Banks are the backbone of the national economies and collectively, they decide the global economy. ... Top 50 Safest Banks In Europe 2020 . Click to toggle ranking by category "up" and "down", Note: 5 = Highest score, 0 = Lowest score Whereas Malaysia’s CIMB has become a universal bank, having grown from investment banking roots, Meezan has built its presence from a consumer banking background. In Qatar’s case, Barwa is winning praise for its rapid growth, particularly in sukuk, but it has not yet quite made sufficient ground to make an argument for it to dislodge Qatar Islamic Bank as the leading Islamic bank in the country. 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. According to the Banker International Institute, the Agricultural Banks of Turkey and Al-Salam Algeria are ranked first and second in the world. 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 … 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. The Asian Banker’s 500 strongest banks rankings is one the world… In this year’s The Asian Banker Strongest Islamic Banks By Balance Sheet evaluation, Islamic banks in Saudi Arabia achieved the highest average strength score at 3.74 out of 5, followed by Qatar (3.60), Kuwait (3.30) and Pakistan (3.27). The 20 most generous people in the world. ADIB is becoming more active internationally, with expansion so far in Egypt, Iraq, the UK and Saudi Arabia. Best Islamic Bank in the Middle East Al Rajhi. 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. Top 30 banks by assets in Africa and Middle East, 2020 Despite an economic slowdown on the back of global trade tensions, China's largest banks continued to grow in 2019 and further embedded their positions among the world's biggest banks, S&P Global Market Intelligence's annual global bank … The money, its circulation, security, and management are preserved by the banks in each country. Sharia advisory councils and consultants. The opportunity to grow Islamic finance services in Indonesia is highly appealing. At the same time non-performing loans (NPLs, or non-performing financings to use the Shariah equivalent) have fallen from 3.43% in 2007 to 0.95% in 2011, before nudging up again to 1.07% last year. Meeting the needs of an increasingly sophisticated clientele is not an easy task. One Gulf market in which the traditional Islamic banking leader is facing renewed external threats is Kuwait. Daring expansion and innovation? Flowing from that is a retail financing business that gives Al Rajhi the Islamic equivalent of a net interest margin of just under 4.5%; the sector as a whole is more like 2.8%. Maybank Islamic is the largest Islamic bank in the ASEAN region and one of the five largest Islamic banks globally, with total assets of $55 billion. Reflecting that buoyancy, Meezan – which turned 10 years old in 2012 – is, according to chairman Ebrahim Bin Khalifa Al-Khalifa, the fastest-growing bank in the history of Pakistan over that period. 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. Whatever the case, they are handling all their work with the utmost elegance and hard work. Each bank's performance across these categories is then used to generate an overall "Best-Performing Bank" score and ranking. At this time its asset base stood at QAR66.8 billion (US$183.35 million), up 26.7% year on year, with a net profit of QAR1.13 billion. Fill in the form below to get instant access: Check our website for the new dates. Islamic Finance industry title IslamicFinance.com ranks Al Rajhi Bank, Kuwait Finance House and Dubai Islamic Bank as top three biggest Islamic Banks globally.. Net Income (TTM): … 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. Prime banks trade instruments such as world paper, International Monetary Fund … BIBD remains the only logical choice for this award in Brunei, formed by the 2005 merger of the two major Islamic financial institutions in the country. 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