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%. In Meezan it is refreshing to see an emerging market Islamic bank get its 2012 annual report out by March 2013 and for it to be well thought out, clear and informative. The 20 most generous people in the world. 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… Globally, Al Baraka has turned into one of the bigger forces in Islamic finance. 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. If Islamic banks are to win over the market, they have to collaborate. In March the first tangible sign of this came with the launch of KFH Real Estate Company, a separate investment vehicle formed out of its fully-owned subsidiary Nakheel United Real Estate. The Asian Banker’s 500 strongest banks rankings is one the world… Islamic Finance industry title IslamicFinance.com ranks Al Rajhi Bank, Kuwait Finance House and Dubai Islamic Bank as top three biggest Islamic Banks globally.. 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. Indonesia’s government has set a target of 10% of total bank assets being Shariah-compliant by 2015-20. 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. 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. 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%. According to Internal and Islamic Economics Division, Research Department, Bangladesh Bank, at the end of September 2016, eight full-fledged Islamic banks … The money, its circulation, security, and management are preserved by the banks in each country. It would be wrong to present Al Rajhi as lacking in innovation; instead, it is simply prudent. 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. We highlight Al Rajhi despite the fact that its regional presence is not as dynamic as, say, Kuwait Finance House or Al Baraka; leaving aside its considerable Malaysian operation. 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. 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. 11 spot, followed by Mark Zuckerberg (No.12) and UnitedHealth Group’s CEO David S. Wichmann (No.13). Enjoying a strong brand name in trade finance, the bank … 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). In recent years Abu Dhabi Islamic Bank (ADIB) has embodied efficiency and ambition. Here is a list of top 10 banks in the world 2020. 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. 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. In September 2011, CIMB set about a new range of regional initiatives, coinciding with its merger of its corporate banking, treasury and markets businesses. Top 10 banks in Qatar Top Banks in Qatar The Qatar Central Bank licenses and regulates 18 banks in Qatar, as of January 2015. Although the increasing foreign exposure of Qatar’s banks is a growing … 9455**2050 Or scale and safety, a vote for steadiness in continuing uncertain times? Beyond that, corporate finance is growing, while the bank ranks second in equity brokerage now through its Al Rajhi Capital arm, which is also a major player in asset management, and increasingly active in investment banking and research. It is clearly a name to watch for the future. On aggregate, the top 10 accounted for 51.3% and 67.7% of combined assets and net profits, respectively. Largest Islamic Banks This database ranks Islamic banks worldwide by asset size. 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. The list is based on the April, 2020 S&P Global Market Intelligence report of the 100 largest banks in the world. The Chinese and American Banks … An Islamic bank branch in the UMNO building in Kota Kinabalu. 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 four largest banks are headquartered in China. Why, in June 2012, did a single annual general meeting cover two whole financial years to approve financial statements going back to 2010? What is apparent is that IDR551.1 billion (US$56.76 million) of profits were accrued from the Islamic division in the 2011 financial year. 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. 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. . ... Top 50 Safest Banks In Europe 2020 . Each bank's performance across these categories is then used to generate an overall "Best-Performing Bank" score and ranking. It is also the leading structured product house in Malaysia. It is one of the fastest growing religions and … There were 505 Islamic banks in 2017, including 207 Islamic Banking windows. 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). 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. Al Rajhi’s other major overseas presences are in Kuwait and Jordan. Source: Asian Banker Research. ADIB is becoming more active internationally, with expansion so far in Egypt, Iraq, the UK and Saudi Arabia. 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. Meezan has deposits of PKR230.43 billion (US$2.34 billion) and total assets of PKR274 billion. The overall profitability of Islamic banks weakened amid the pandemic. The world of Islamic finance continues to evolve in terms of complexity and depth. 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. This post gives you an insight into the ten wealthiest Muslim women as of now. 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. Forbes ranks the world's best banks. Qatar is the other market in the Middle East where an exceptionally powerful long-standing leader is being challenged by newer home-grown rivals. World's Safest Banks 2020 . As a result it dominates with the largest Islamic branch network in the country. Net interest margins and cost of funds are steady. 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. Why does the web site not carry any annual report later than 2011, and no financial statements after that date? Prime Bank: Term used to describe the top 50 banks (or thereabouts) in the world. Bank Rankings – Top Banks in the World These bank rankings are compiled from balance sheet information included on Bankers Almanac available on 9 th November 2020. The bank itself finds it tiresome – part of the evidence against the bank is the appearance of founder Sulaiman Al Rajhi’s name on a handwritten list found in the Bosnian offices of a Saudi Arabian charity in 2002, a list that may have been written decades earlier – and it has been swift and robust in its denials. The 20 safest countries on the planet for COVID-19, according to the Deep Knowledge Group. 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. In Bahrain it offers retail and investment banking services. Also, perhaps sensing the rise of competition, it has set about a five-year strategic transformation programme. The operating profit of the bank surged 66% in 1H FY2020 thanks to higher volume of earning assets portfolio and higher underlying rates. Chris Wright reports. The good news of 2020 – the 50th anniversary of the ranking – is that the … Following that, six more banks were established. No other bank can offer this compelling mix of investment banking leadership and innovation with a solid corporate and retail presence. If you’re sensing a trend here, you’re not alone. An Islamic bank branch in the … The good news of 2020 – the 50th anniversary of the ranking – is that the global banking industry is broadly in good shape. 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. In 2015, it was ranked 59 th on the list of Top 1000 Banks in the World … Best Islamic Bank in Saudi Arabia Al Rajhi. 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. We cover banks in all countries with Islamic banks including western and non-Islamic … 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. 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. From its roots as a brainy but limited-reach investment bank in Malaysia, CIMB Islamic can now claim to be a universal Islamic banking operation in four Asian markets: Malaysia, Indonesia, Thailand and Singapore. 3 – Sultanah Nur Zahirah. The top 100 banks include 20 Chinese banks, 10 US banks, 6 UK banks, 6 French banks, 9 Japanese banks, 6 German banks, 5 Canadian banks, 5 South Korean banks, 5 Brazilian banks, 4 banks … The top 10 banks hold combined assets of about $28 trillion. Indonesia continues its steady belated take-up of Islamic finance, and Bank Syariah Mandiri, as the biggest Islamic lender in the country, remains the institution in the best shape to benefit. November 12, 2020. However, the number of players is not necessarily indicative of the size of the industry, in terms of assets. 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 … Top banks have been playing a very pivotal role in the people’s loves. Yet another Chinese bank, … Gulf based banks dominate Global Islamic Bank Ranking Chart. CIMB deservedly continues to hold its crown as Asia’s top Islamic finance institution. Please get in touch with Sue Kim at [email protected] for further clarifications. 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. It was not only the first-ever Shariah-compliant Tier 1 issue, but the first Tier 1 instrument from any Middle Eastern bank, whether conventional or Islamic. Nevertheless, Pakistan is on something of an upswing: its gross domestic product (GDP) grew a decent 3.7% in fiscal 2012, and the KSE 100 equity index rose 49%, one of the best in the world, during the year. “A few weeks ago, World Bank’s Ease of Doing Business 2020 annual report ranked Oman at 68th … A look at the numbers of Meezan Bank secures it this particular award. December 09, 2020. The Asian Banker’s 500 Strongest Banks Rankings is one the world… 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. The opportunity to grow Islamic finance services in Indonesia is highly appealing. 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. Prime banks trade instruments such as world paper, International Monetary Fund … 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). 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. Beyond the capital markets, CIMB now enjoys a scale that it never used to enjoy. All Rights Reserved. For a full explanation of the evaluation criteria please click here. It only requires the 14 bank branches possessed by BIBD to cover all of the tiny Borneo nation; the bank speaks with pride of its 47 ATM machines. Sharia advisory councils and consultants. The top ten countries by savings rate were Macao, the Republic of the Congo, Qatar, Ireland, Brunei, Singapore, Luxembourg, Gabon, the UAE, and China. Click to toggle ranking by category "up" and "down", Note: 5 = Highest score, 0 = Lowest score The information available on this date is used to compile the full world and country rankings. As a business, Al Rajhi embodies steady efficiency, often logging twice the return on equity of its Saudi peers; it continued to make money through 2009 when the rest of the sector was belatedly hit by the global financial crisis. EY’s note to banks “Challenge yourself to co-create digital solutions”. *The World Islamic Banking Conference 2016, which will be held at Art Rotana Amwaj Bahrain from December 5-7, will address issues in Islamic … Its most recently published financial statements give a snapshot of its financial status as of September 30, 2012. Best Islamic Bank in United Arab Emirates Abu Dhabi Islamic Bank. According to the Banker International Institute, the Agricultural Banks of Turkey and Al-Salam Algeria are ranked first and second in the world. Whatever the case, they are handling all their work with the utmost elegance and hard work. 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. No other bank enjoys anywhere near the same vision and desire to compete in the Islamic finance space over such a broad geographic scale. Best Islamic Bank in Kuwait Kuwait Finance House. As of September 2013, 15,354 people were employed in the Shariah bank. The latter was up 7% on the previous year, while its banking revenue was up 34%. 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. Global Finance Names The World’s Best Islamic Financial Institutions 2019 World’s Best Islamic Financial Institutions 2019 – Country Winners Afghanistan Afghanistan International Bank Algeria Banque Al Baraka D’Algérie Bahrain Al Salam Bank Bangladesh Standard Chartered Saadiq Bangladesh Brunei Darussalam Bank Islam Brunei Darussalam Egypt Abu Dhabi Islamic Bank Egypt Best Islamic Bank in the Middle East Al Rajhi. CIMB dominates sukuk bond issuance in Malaysia to a remarkable degree. CIMB has always been astute in realising that business opportunities will arise if you help them to get started. 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. 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. Our award for the United Arab Emirates’ standout Islamic bank changes hands this year, with an Abu Dhabi institution replacing a Dubai one. Moreover, CIMB deals tend to be innovative market leaders: leaving aside the Malaysian ringgit bond issues, trailblazers in the last 18 months have included Axiata in the first rated sukuk in renminbi, a Rmb1 billion (US$160.89 million), in the first issue off a US$1.5 billion multi-currency sukuk programme; a US$800 million trust certificate issue for the Islamic Development Bank in Saudi Arabia; and a US$357.8 million exchangeable sukuk into Parkson Retail for Khazanah Nasional. Best Islamic Bank in Brunei Bank Islam Brunei Darussalam. Average return on assets (ROA) stood at 1.1% in 1H FY2020, lower than 1.5% in 1H FY2019, and cost to income ratio was up slightly from 41.3% to 41.5%. 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. In Malaysia, it controls 30% of the Islamic banking industry and its products and services are available through a network across Malaysia, Indonesia, Singapore, Hong Kong, London and Bahrain. This is the biggest container port between Rotterdam and Singapore and accounted for 21% of Dubai’s GDP in 2009, and is a Dubai flagship – but it faced a maturing AED7.5 billion (US$2 billion) floating rate sukuk that had been launched in far brighter economic days in 2007. 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. 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%. Citigroup CEO Michael Corbat took the No. It oversees a network of more than 20,000 branches and 189 international offices in 35 countries. It’s a somewhat broad target, but the intention is clear. But it’s possible to make the case for a regional award what is in truth a largely domestic business because of the sheer importance of the Saudi economy and markets within the region. Sharia advisory councils and consultants. It is now the fourth-largest Islamic bank globally by assets, has huge backers in its majority ownership by the Abu Dhabi ruling family and sovereign wealth fund, and now has decent on-the-ground reach as well, with 75 branches, 549 ATMs and over half a million customers. The United Arab Emirates may have the buildings, and Qatar the headlines, but Saudi Arabia, to put it simply, is the whole point. Investment banking continues to be what sets CIMB apart, however. However, the number of players is not necessarily indicative of the size of the industry, in terms of assets. 2012 marked an impressive year of statistical year-on-year improvements for Meezan Bank, Pakistan’s first, biggest, and still-best Islamic bank. Daring expansion and innovation? 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. Qatar Islamic Bank, after all has just under 40% of the Qatar Islamic banking market, and 11% of the country’s entire national banking system. Fill in the form below to get instant access: Check our website for the new dates. Copyright 2021, The Asian Banker. Al Rajhi has had a difficult year, once again facing allegations of terrorist financing following a US Senate investigation into HSBC in July. # Adjusted for balance sheet growth and asset quality The bank handled 29.2% of all ringgit sukuk between January 1 and October 31, 2012 – a total of 204 issues. 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. What should be the most important criterion when awarding the top Islamic bank award in the Middle East? As the first Basel III-compliant issue from the region it was closely watched and has swiftly become a benchmark. And Al Rajhi is still the largest Islamic bank in the world by both market capitalisation and assets. Al Rajhi is the clear Islamic leader in Saudi Arabia. It seems that Indonesia’s government and regulators finally appear to be serious about this: the sovereign’s global sukuk are fairly regularly issued, closely followed and widely sought, and most of the legal infrastructure is in place now to encourage further growth. 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%. Best Islamic Bank in Bahrain Al Baraka Islamic Bank. If Bank Syariah Mandiri is in the strongest position in this fledgling industry, than that is an excellent place to be. Saudi Arabia-based Al Rajhi Bank has retained its top spot as the strongest Islamic bank. 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. Asian Banker was the first organization to rank the global Islamic banking community in 2007. Lacking competition, BIBD has not felt the necessary impetus to be as transparent as perhaps it could be. ICBC (Industrial and Commercial Bank of China), a state-owned financial institution, is the world’s biggest bank by total assets and deposits. 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. 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. For the moment, though, Kuwait Finance House is the bank with the broadest range of business, covering personal and commercial banking, leasing (a particular strength), asset management, private banking, project finance and real estate. Meeting the needs of an increasingly sophisticated clientele is not an easy task. 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. Affin Bank – A wholly owned subsidiary of Affin Holdings Berhad (AHB). 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. ASIAMONEY reveals which institutions have done the best job. The bookrunners launched a AED4.4 billion eight-year amortising term loan, then underwrote a US$650 million Regulation S sukuk. 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