According to the Banker International Institute, the Agricultural Banks of Turkey and Al-Salam Algeria are ranked first and second in the world. 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%. Top 10 Richest Muslim Women in the World 2020 Updated List. All Rights Reserved. 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. The opportunity to grow Islamic finance services in Indonesia is highly appealing. Although the increasing foreign exposure of Qatar’s banks is a growing … Why, in June 2012, did a single annual general meeting cover two whole financial years to approve financial statements going back to 2010? The 20 safest countries on the planet for COVID-19, according to the Deep Knowledge Group. * FY2019 data Best Islamic Bank in the Middle East Al Rajhi. The bank handled 29.2% of all ringgit sukuk between January 1 and October 31, 2012 – a total of 204 issues. 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. D igital and mobile technologies are revolutionizing the … The list is based on the April, 2020 S&P Global Market Intelligence report of the 100 largest banks in the world. 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. 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… It was no vanilla financing exercise. ... Top 50 Safest Banks In Europe 2020 . Mandiri accounted for this figure as part of a group-wide fee-based income figure of IDR1.3 trillion, which suggests that revenues from Shariah business are becoming highly notable within the broader bank. Copyright 2021, The Asian Banker. 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. For a full explanation of the evaluation criteria please click here. Meeting the needs of an increasingly sophisticated clientele is not an easy task. It would be wrong to present Al Rajhi as lacking in innovation; instead, it is simply prudent. 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. 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. The four largest banks are headquartered in China. 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. Meezan has deposits of PKR230.43 billion (US$2.34 billion) and total assets of PKR274 billion. It is one of the fastest growing religions and … © 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. Following that, six more banks were established. All this in a rare buoyant economy underpinned by domestic demand. In Bahrain it offers retail and investment banking services. Al Rajhi is the clear Islamic leader in Saudi Arabia. In 2015, it was ranked 59 th on the list of Top 1000 Banks in the World … All material subject to strictly enforced copyright laws. Whether banks are your competitors, counterparties or clients, you need the Top 1000 World Banks 2020 … Here is a list of top 10 banks in the world 2020. According to the Banker International Institute, the Agricultural Banks of Turkey and Al-Salam Algeria are ranked first and second in the world. The world of Islamic finance continues to evolve in terms of complexity and depth. Deep Knowledge Group. By total assets. 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. Best Islamic Bank in Qatar Qatar Islamic Bank. 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%. 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. It describes itself as being “solely entrusted to take on the task of delivering a successful consent solicitation exercise involving almost the entire market” to ensure the success of the transaction. Better still, that retail base – young, Muslim, growing in wealth and sophistication – is going to account for increasing opportunity both individually and in corporate life as it grows up. With a total combined donation amount of $106.8 billion, these 20 individuals are the top philanthropists in the world Whatever the case, they are handling all their work with the utmost elegance and hard work. A look at the numbers of Meezan Bank secures it this particular award. In Malaysia, it controls 30% of the Islamic banking … Profit, at PKR3.5 billion after tax, is somewhat slim today, but that’s still a near quadrupling since 2007, and the prospects are impressive in a market in which Islamic finance is very much the preferred direction of the local banking system. This award, though, is for the bank’s Bahrain business: Al Baraka’s home and the location of one of its two listings (the other being Nasdaq Dubai). Its most recently published financial statements give a snapshot of its financial status as of September 30, 2012. Lacking competition, BIBD has not felt the necessary impetus to be as transparent as perhaps it could be. 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. The top 10 banks hold combined assets of about $28 trillion. 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. ASIAMONEY reveals which institutions have done the best job. Best Islamic Bank in Kuwait Kuwait Finance House. Beyond the capital markets, CIMB now enjoys a scale that it never used to enjoy. Yet despite this it remains the clear national leader in Islamic finance. 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. The Asian Banker’s 500 Strongest Banks Rankings is one the world… The top ten countries by savings rate were Macao, the Republic of the Congo, Qatar, Ireland, Brunei, Singapore, Luxembourg, Gabon, the UAE, and China. World’s Best Digital Banks 2020 Round 2: Demand Develops . Forbes ranks the world's best banks. 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). CIMB has always been astute in realising that business opportunities will arise if you help them to get started. 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 … 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. Bank Syariah Mandiri’s market strength has grown dramatically since 2007, with total financing, deposits and assets all up four times over since then. 3 – Sultanah Nur Zahirah. Source: Asian Banker Research. Investment banking continues to be what sets CIMB apart, however. 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%. 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. 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). Sharia principles are no barrier to stable long-term growth. 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. It was … BIBD was also the first institution to launch Islamic mutual funds in Brunei, and it has subsidiary businesses for fixed deposits, vehicle hire purchase, consumer product financing, securities and brokerage, takaful and investment banking, with a particular trophy being a co-lead role on the Republic of Indonesia’s US$1 billion sukuk issue in 2011. Globally, Al Baraka has turned into one of the bigger forces in Islamic finance. There were 505 Islamic banks in 2017, including 207 Islamic Banking windows. Enjoying a strong brand name in trade finance, the bank … The capital adequacy ratio of 26% speaks of considerable surplus liquidity. 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. 11 spot, followed by Mark Zuckerberg (No.12) and UnitedHealth Group’s CEO David S. Wichmann (No.13). The world’s third-largest Islamic bank by total assets offers a wide range of shariah-compliant products and services to wholesale, corporate and other clients. An Islamic bank branch in the … However, the number of players is not necessarily indicative of the size of the industry, in terms of assets. 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. Indonesia’s government has set a target of 10% of total bank assets being Shariah-compliant by 2015-20. 2012 marked an impressive year of statistical year-on-year improvements for Meezan Bank, Pakistan’s first, biggest, and still-best Islamic bank. If Islamic banks are to win over the market, they have to collaborate. 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. World's Safest Banks 2020 . Sharia advisory councils and consultants. Agricultural Bank of China. If you’re sensing a trend here, you’re not alone. The average asset growth of Islamic banks listed accelerated from 8.7% year-on-year (yoy) at the end of 1H FY2019 to 13% yoy at the end of 1H FY2020, which is higher than the average asset growth recorded by the 200 largest banks in the Middle East and Africa at 10.9% yoy and the 500 largest banks in Asia Pacific at 10.3% yoy. EY’s note to banks “Challenge yourself to co-create digital solutions”. 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 An Islamic bank branch in the UMNO building in Kota Kinabalu. Al Baraka particularly benefits from the health of its Bahrain-based parent, which enjoyed a 21% year-on-year increase in deposits in 2012 alongside 11% in assets, 11% in net income and 23% in net operating income. There were 505 Islamic banks in 2017, including 207 Islamic Banking windows. Meezan Bank from Pakistan is the strongest Islamic bank in Asia. Largest Islamic Banks This database ranks Islamic banks worldwide by asset size. In recent years Abu Dhabi Islamic Bank (ADIB) has embodied efficiency and ambition. # Adjusted for balance sheet growth and asset quality 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%. The government-owned corporation provides commercial banking services all over the world. 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. China Private Banking and Wealth Management Awards, The Best Retail Financial Services Rankings, TAB Finance Diary of Events (Full Event Diary), The Heads of Retail Finance Virtual Meeting, Financial Services and Related Research Sources, Al Rajhi Banking & Investment Corporation (Malaysia), Kurdistan International Islamic Bank for Investment and Development. 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. Asian Banker was the first organization to rank the global Islamic banking community in 2007. 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. 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. 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. The Bank … 9455**2050 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. 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… December 09, 2020. 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. Best Islamic Bank in United Arab Emirates Abu Dhabi Islamic Bank. 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. As the first Basel III-compliant issue from the region it was closely watched and has swiftly become a benchmark. It oversees a network of more than 20,000 branches and 189 international offices in 35 countries. Prime Bank: Term used to describe the top 50 banks (or thereabouts) in the world. The bookrunners launched a AED4.4 billion eight-year amortising term loan, then underwrote a US$650 million Regulation S sukuk. This post gives you an insight into the ten wealthiest Muslim women as of now. Qatar is the other market in the Middle East where an exceptionally powerful long-standing leader is being challenged by newer home-grown rivals. ... have inherited the family business or own their banks. 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. 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. The bank’s total assets in 2012 grew 9% to KWD14.7 billion, with deposits up 6% to KWD9.4 billion. 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. 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. 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. As a result it dominates with the largest Islamic branch network in the country. *The World Islamic Banking Conference 2016, which will be held at Art Rotana Amwaj Bahrain from December 5-7, will address issues in Islamic … 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. However, the number of players is not necessarily indicative of the size of the industry, in terms of assets. 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. CIMB deservedly continues to hold its crown as Asia’s top Islamic finance institution. 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. 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. Or scale and safety, a vote for steadiness in continuing uncertain times? The overall profitability of Islamic banks weakened amid the pandemic. Al Rajhi’s other major overseas presences are in Kuwait and Jordan. 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. 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). 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. 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 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. Copying and distributing are prohibited without permission of the publisher. Changes are made based on our coordination with the local industry players. 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. 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. 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 … Size isn’t everything, but Qatar Islamic Bank appears to be in rude health too. The Chinese and American Banks … 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. Chris Wright reports. The United Arab Emirates may have the buildings, and Qatar the headlines, but Saudi Arabia, to put it simply, is the whole point. The bank recorded a lower cost to income ratio from 47% to 40% and a higher ROA from 1.5% to 2.0%. November 12, 2020. 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. And Al Rajhi is still the largest Islamic bank in the world by both market capitalisation and assets. One Gulf market in which the traditional Islamic banking leader is facing renewed external threats is Kuwait. ADIB is becoming more active internationally, with expansion so far in Egypt, Iraq, the UK and Saudi Arabia. The ranking was based upon assets as reported and was not adjusted for … The information available on this date is used to compile the full world and country rankings. 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. 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. 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%. Best Islamic Bank in Indonesia Bank Syariah Mandiri. 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