DISTINGUISHING GLOBAL GROWTH
By Kathryn Tully
Global Finance’s most recently instituted awards acknowledging the best Islamic finance institutions globally, by region and by country only began in 2008, but in that relatively short time, a number of players have repeatedly distinguished themselves in the rapidly growing market for shariah-compliant products.
Jordan Islamic Bank has taken the global award for the best Islamic retail bank three years out of five. CIMB Principal Islamic Asset Management has won the best global asset management category three times, and Falcom Financial Services has also clocked three wins as the best Islamic fund manager. Dow Jones Islamic Market Indexes has taken the award for the best shariah-compliant index provider every year since 2008.
Of the 26 different country award winners, Al Salam Bank has been the most frequent, followed by Qatar International Islamic Bank, Kuwait Finance House, Islami Bank Bangladesh, Faisal Islamic Bank of Egypt, CIMB Islamic and Arab Finance House. CIMB Islamic and Kuwait Finance House also came top of the regional awards for Asia and for the Gulf Cooperation Council nations, respectively.