Global Finance names the World’s Best Islamic Financial Institutions 2012
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: afiano@gfmag.com
| 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 |