Global Finance has announced its seventeenth annual awards for the World’s Best Islamic Financial Institutions. A full report on the selections will appear in Global Finance’s World’s Best Banks special issue in May, as well as online at GFMag.com. The winners of this year’s awards are those firms that contributed to the growth of Islamic financing. They successfully met their customers’ needs for Shariah-compliant products with modern and efficient delivery channels, while creating the foundation for continued growth and safety in the future.
“In a year of high-profile mergers and acquisitions in the Islamic financial markets and continued growth of sustainable finance, Sharia-compliant banking only continues to grow,” said Joseph D. Giarraputo, founder and editorial director of Global Finance. “Global Finance’s annual World’s Best Islamic Financial Institutions awards acknowledge the industry leaders in volatile times.”
All selections were made by the Global Finance editorial team after extensive consultations with bankers, corporate finance executives and analysts worldwide. Entry submissions from Islamic Financial Institutions were also considered. In selecting these top firms, factors that ranged from the quantitative objective to the informed subjective were considered.
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 firms with which customers around the world would most likely want to do business.
The complete list of Global Finance’s World’s Best Islamic Financial Institutions 2024 follows.
For editorial information, please contact Andrea Fiano, editor, afiano@gfmag.com
Global Winners
| Best Islamic Financial Institution | Kuwait Finance House |
| Best Islamic Corporate Bank | Kuwait Finance House |
| Best Islamic Retail Bank | Al Rajhi Bank |
| Best Islamic Bank for CSR | Boubyan Bank |
| Best Islamic Bank for ESG | Abu Dhabi Islamic Bank |
| Best Islamic Private Bank | Dukhan Bank |
| Best Sukuk Bank | CIMB Islamic Bank |
| Best Islamic Investment Bank | GFH Financial Group |
| Best Islamic Fund Manager | Sidra Capital |
| Best Islamic SME Bank | Maybank Islamic |
| Best Islamic Asset Manager | Al Rajhi Capital |
| Bst Islamic Trade Finance Provider | Maybank Islamic |
| Best Islamic Takaful | Etiqa Takaful Berhad |
| Best Islamic Project Finance Provider | Kuwait Finance House |
Regional Winners
| Asia | Maybank Islamic |
| Middle East | Al Rajhi Bank |
Country, Territory and District Winners
| Bahrain | Bank ABC Islamic |
| Brunei Darussalam | Bank Islam Brunei Darussalam Berhad |
| Egypt | ADIB Egypt |
| Indonesia | Bank Syriah Indonesia |
| Jordan | Jordan Islamic Bank |
| Kuwait | Boubyan Bank |
| Malaysia | Maybank Islamic |
| Morocco | Umnia Bank |
| Oman | Bank Nizwa |
| Pakistan | Meezan Bank |
| Qatar | Dukhan Bank |
| Saudi Arabia | Al Rajhi Bank |
| Sri Lanka | Amana Bank |
| Tunisia | Al Baraka Bank Tunisia |
| Turkey | Kuveyt Türk Katilim Bankasi |
| UAE | Abu Dhabi Islamic Bank |
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Global Finance’s World’s Best Banks 2024 Awards Ceremony
Winners will be honored at an Awards Ceremony held during the IMF/World Bank Annual Meetings Washington, DC on the morning of October 26, 2024. For more information on the event, please contact Giulia Cattani at giulia@gfmag.com.
About Global Finance
Global Finance, founded in 1987, has a circulation of 50,000 and readers in 193 countries, territories and districts. Global Finance’s audience includes senior corporate and financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions. Its website — GFMag.com — offers analysis and articles that are the legacy of 37 years of experience in international financial markets. Global Finance is headquartered in New York, with offices around the world. Global Finance regularly selects the top performers among banks and other providers of financial services. These awards have become a trusted standard of excellence for the global financial community.
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