Author: Andrea Fiano

Global Finance names the World’s Best Islamic Financial Institutions 2012

150 Worlds-Best-Islamic-Financial-Institutions-2011-Press-Release_1

NEW YORK, April 20, 2012 - Global Finance magazine has announced its fifth annual awards for the World’s Best Islamic Financial Institutions. A full report on the selections will appear in the June issue of Global Finance . The winners of this year’s awards are those banks that contributed to the growth of Islamic financing and successfully met their customers’ needs for Shariah-compliant products, while creating the foundation for continued growth and safety in the future.

All selections were made by the editorial team of Global Finance , after extensive consultations with bankers, corporate finance executives and analysts throughout the world. In selecting these top banks, we considered factors that range from the quantitative objective to the informed subjective. Quantitative criteria included growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products. Among the subjective criteria considered were reputation, customer satisfaction, and the opinions of analysts and others involved in the industry. The mix of these factors yields leading banks that may not be the largest, oldest or the most diversified in a given country, region or product, but rather the best—the banks with which customers around the world would most likely want to do business.

“Shariah-compliant finance is the fastest-growing area of finance worldwide, with more than 300 financial institutions that are either fully Islamic or provide Islamic financial products to their customers, in addition to several hundred more Islamic investment banks and insurance companies, or takaful,” says Global Finance ’s publisher Joseph D. Giarraputo. “The winning banks were all noteworthy in their dedication to satisfying their customers’ needs in accordance with the rules of Islamic finance.”

For editorial information please contact: Andrea Fiano, Editor, email:

Best Sukuk Bank Maybank
Best Islamic Retail Bank Jordan Islamic Bank
Best Islamic Investment Bank Samba
Best Takaful (Insurance) Provider Etiqa Takaful Berhad
Best Asset Management Company CIMB Principal Islamic Asset Management
Best Shariah-Compliant Index Provider Dow Jones Islamic Market Indexes
Best Islamic Project Finance Provider SABB
Best Islamic Commodities Provider International Islamic Trade Finance Corporation
Best Islamic Real Estate Finance Provider Gatehouse Bank
Best Islamic Fund Manager Falcom Financial Services
Best Up-and-Comer Mega Islamic Bank
Islamic Finance Deal of the Year Wakala Global Sukuk Bhd, $2 billion Sukuk trust certificates

Gulf Cooperation Council (GCC) Al Rajhi Bank
Non-GCC Middle East/Africa Al Baraka Bank
Asia Maybank Islamic Berhad
Europe Bank of London and the Middle East

Algeria Banque Albaraka D’Algérie
Bahrain Al Baraka Islamic Bank – Bahrain
Bangladesh Islami Bank Bangladesh
Brunei Bank Islam Brunei Darussalam
Egypt Faisal Islamic Bank of Egypt
Indonesia Bank Muamalat Indonesia
Jordan Jordan Islamic Bank
Kazakhstan Al Hilal Islamic Bank JSC
Kuwait Kuwait Finance House
Lebanon BLOM Development Bank
Malaysia Maybank Islamic Berhad
Nigeria Jaiz Bank
Pakistan Meezan Bank
Qatar Qatar Islamic Bank
Saudi Arabia Al Rajhi Bank
Singapore OCBC Bank
South Africa Al Baraka Islamic Bank
Sudan Faisal Islamic Bank of Sudan
Turkey Kuveyt Türk
United Arab Emirates Abu Dhabi Islamic Bank
United Kingdom

Bank of London and the Middle East

United States Devon Bank