The Islamic finance industry is evolving. It blends Shariah-compliant principles with cutting-edge technology, global expansion, and sustainable initiatives.
This year’s top institutions demonstrate that success in Islamic banking is no longer measured by size alone; it comes from innovation, customer-centric solutions, and responsible growth.
Across retail, corporate, wealth, and transaction banking, leaders are embedding AI, predictive analytics, and digital-first strategies to enhance efficiency, personalization, and financial inclusion. Meanwhile, ESG and corporate social responsibility initiatives are becoming core to operations, with institutions advancing green finance, microfinance, and sustainable development goals.
The 2026 rankings highlight a sector that balances tradition and transformation, delivering Shariah-compliant products and services that meet the needs of a global client base while pioneering the future of ethical finance.
World’s Best Islamic Financial Institution
Kuwait Finance House
KFH’s win as 2026 World’s Best Islamic Financial Institution reflects its strong activities across multiple geographies. A 17% increase in total assets last year, to $139 billion, helped it maintain its position as the second-largest Islamic bank globally.
KFH now has the most diverse geographic footprint of any Islamic financial institution (IFI), with on-ground operations throughout the Middle East, Europe, and Asia, including large subsidiaries in Kuwait, Turkey, Egypt, Bahrain, Iraq, Malaysia, the UK, and Germany. Loan growth last year came from both the corporate and retail segments and all major markets, with especially strong contributions from Kuwait and Turkey.
KFH has moved from basic digitization to value-driven technology adoption, expanding its use of technology across frontline channels and deploying solutions that enhance customer engagement and service efficiency. At the same time, digital enhancements are helping its migration to scalable, efficient channels, supported by stronger digital governance, cyber risk management, and fraud prevention.
KFH’s Islamic banking products and services cover commercial, retail, and corporate banking as well as real estate, trade finance, project finance, asset management, and investments. Its focus on digitalization and innovative product development has enhanced customer experience and solidified its competitive edge, particularly in its private banking and wealth management services.
Return on average assets increased to a very good 1.8% in 2025, and other financial metrics remained solid.
Most Innovative Islamic Bank
Boubyan Bank
Boubyan Bank stands apart amongst IFIs for its focus on innovation and technology-driven banking strategy while it continues to develop inventive financial offerings that enhance the customer experience.
Boubyan made significant progress last year at embedding AI into services offered through its app, further enhancing the client-facing experience. It also introduced an upgraded version of Msa3ed, Boubyan App’s AI-powered digital assistant, which was designed for the first time to interact voice-to-voice in Kuwaiti dialect.
The bank is extending AI-driven automation and intelligent decision-making across servicing and fulfilment, improving speed, accuracy, and personalization. And it is employing AI-powered predictive algorithms to address customer needs, covering 25 transactional services ranging from PayMe, WAMD, and account services with a 90% accuracy rate.
Boubyan is further redefining its services to corporate customers with the launch of an integrated package of advanced digital banking solutions. Its London-based Nomo Bank subsidiary is expanding its activities and product range, including in wealth management. Enhancements to Nomo’s mortgage and Islamic property finance proposition are widening client access to both Islamic residential and investment financing in the UK via digital onboarding and management.
Best Islamic Bank for Transaction Banking
Boubyan Bank
Boubyan Bank’s focus on digitalization and technology is strengthening its transaction banking operations, benefiting its client base. Its advanced digital banking solutions enable finance managers and treasury officers to plan, forecast, and more quickly implement processes and traditional banking scoring models.
Most Islamic Wealth Manager
Maybank Islamic
Maybank Islamic claims the inaugural Best Islamic Wealth Manager award for its well-structured product range, compliance, growth, and performance. Its proactive advisory and wealth management operation connects Shariah fund flows across key markets while its centralized investment platform targets both retail and institutional investors.
Maybank’s range of products includes gold investment, account numbers have increased to over 500,000 aided by digital enhancement in 2025. Along with several new investment funds, it launched the first private Islamic trust, a Shariah-compliant legacy planning solution, in 2025.
MyWealth, Maybank’s Islamic wealth management service, achieved over 100% growth last year. Also in 2025, it launched Invest Future, Singapore’s first Shariah-compliant takaful investment-linked plan in over a decade, and Private Trust-i, a Shariah-compliant wealth distribution solution. In June, it launched Dynamic Horizon, a pioneering single-contribution, investment-linked takaful plan.
Most Islamic Private Bank
Dukhan Bank
Doha-based Dukhan Bank takes this year’s title as Best Islamic Private Bank, reflecting its portfolio of financing, banking, and investment products and services for high-net-worth and ultra-high-net-worth individuals. Supported by a large team of equity specialists, its portfolio management services include equity markets, sukuk, mutual funds, and capital-protected products.
Dukhan offers comprehensive Sharia-compliant wealth management and innovative client solutions. Last year, it signed a strategic agreement with BlackRock’s Global Infrastructure Partners to provide GIP’s Shariah-compliant private market products and solutions to its clients, expanding their access to private investment opportunities.
Most Islamic International Bank
Standard Chartered Banking Saadiq (SCS)
SCS is Standard Chartered Banking’s (SCB) global Islamic network, spanning Asia, Africa, and the Middle East and combining significant Shariah expertise with a strong product portfolio. SCB began offering Islamic banking in 1993; with a long history in the field and a footprint covering 70% of the Muslim world, it is arguably the only international bank with a global Islamic banking franchise, offering a range of Shariah-compliant products across corporate, investment, wealth, retail, and private banking clients in over 25 countries.
Most Islamic Bank for CSR
Kuwait Finance House
KFH has embedded corporate social responsibility (CSR) and sustainability in its core Shariah-compliant strategy and operating model. Its approach advances financial inclusion and education, aiming to close structural gaps for underserved segments and support households, youth, and entrepreneurs through accessible products, partnerships, and capability building. It provides comprehensive solutions across microfinance, support for small and midsized enterprises (SMEs), low-denomination investments, and savings products. KFH has a global takaful alliance with the UN Development Programme, supporting sustainable development and aiming to extend takaful protection to 100 million farmers worldwide.
Most Islamic Bank for ESG
Emirates Islamic Bank (EIB)
EIB achieved $3.8 billion in sustainable finance at the end of last year; 16% of its total financing portfolio is now classifiable as sustainable finance. Areas of focus include green, social and sustainability-linked financing, SME financing in the sustainability sector, and green auto financing.
The most recent annual report for a $750 million sustainability sukuk EIB issued in 2024 showed positive environmental impact, and the bank launched another $500 million sustainability-linked sukuk last year. ESG principles are embedded at the highest levels and a dedicated board-level committee oversees the bank’s ESG agenda while its internal Shariah Supervision Committee ensures all activities comply with Shariah principles.
Most Islamic Retail Bank
Boubyan Bank
Boubyan wins the Best Islamic Retail Bank award on the strength of its technology-driven and innovative range of consumer banking products and services. Primarily a corporate bank at its inception, Boubyan over the years diversified into retail banking. Today, it concentrates on serving and growing its retail client base in Kuwait with personal financing facilities in autos, construction, medical treatment, and education in addition to its card services.
BB has developed a reputation for innovation and excellent customer service, with an emphasis on digitalization, fintech, and serving the under-30 age bracket.
Most Islamic Corporate Bank
Kuwait Finance House
Expansion abroad has transformed KFH into a global player with over 600 branches in eight countries, including Kuwait, Bahrain, Turkey, Egypt, the UK, and Germany. Active in all areas of corporate banking, it provides financing for companies and major projects at the local and regional levels.
Kuwait’s 2025 Public Debt Law opened new avenues for KFH to develop innovative Shariah-compliant investment products and expand its lending portfolio. KFH Capital, its investment banking arm, is a major player in Shariah-compliant financial services including debt capital markets, loan syndication, project finance, and M&A.
Best Islamic Investment Bank
Qatar Islamic Bank (QIB)
QIB’s investment banking capabilities support government-related entities, corporates, and financial institutions with Shariah-compliant sukuk structuring, capital markets execution, structured financing, and advisory solutions. Services include originating, structuring, and participating in sukuk and capital markets transactions aligned with customer funding requirements and market conditions.
QIB’s investment banking activities are primarily focused on Qatar, supporting national development priorities and strategic sectors. It also engages in Islamic capital markets transactions with regional and international investors across the Middle East, Europe, Asia, and the US. This positioning enables it to contribute to the depth, liquidity, and credibility of Qatar’s Islamic capital markets while maintaining close alignment with domestic regulatory and market frameworks. QIB’s investment banking activities are embedded within its wholesale and corporate banking platform, ensuring close alignment between advisory, structuring, and balance-sheet execution.
The bank delivers Shariah-compliant investment banking solutions with a strong emphasis on Islamic capital markets, sukuk-related activity, structured finance, and transaction execution discipline. These offerings support the funding, refinancing, and investment requirements of sovereign-related entities, corporates, financial institutions, and SMEs. With over $8 billion in shareholder equity, QIB has the balance sheet size to participate in large deals.
Best Sukuk Bank
Emirates Islamic Bank
EIB established itself as a leading sukuk house last year, defined by its ability to deliver Shariah compliant innovation, consistent execution excellence, and market shaping leadership across the Islamic capital markets ecosystem. Rather than focusing heavily on scale, EIB has demonstrated a clear strategic focus on quality, credibility, and long term impact. This approach has enabled it to play a formative role in advancing sukuk markets through landmark issuances, pioneering product development, broad investor access, and best practices in governance and transparency.
EIB’s issuance last year of the first sustainability linked financing sukuk, at $500 million, was a flagship example of this broader institutional capability, illustrating how the bank translates strategy into execution. Crucially, the offering was not a stand-alone but sits within a holistic and repeatable sukuk franchise. EIB’s core priorities for its sukuk activities include advancing Shariah compliant innovation by developing structures that address evolving issuer and investor needs while remaining firmly rooted in Islamic finance principles..
Best Islamic Fund Manager
Maybank Islamic Asset Management
Maybank Islamic Asset Management, a unit of Maybank Asset Management Group (MAMG), reports a total of $142 billion in wealth assets under management (AUM). It experienced strong momentum in Islamic wealth management last year, with investment-related fees in the segment increasing 24% year-on-year, driven by a 33% expansion in AUM.
Maybank Islamic marked a milestone in 2025 with the launch, in partnership with Schroders, of MAMG Growth and Income-I Fund, which expands Maybank’s investment framework into the Shariah space. The globally diversified, actively managed multi-asset fund is designed to deliver consistent income and capital growth across market cycles, offering institutional-grade discipline in a Shariah-compliant structure that includes flexible currency and income options. Also last year, Maybank Islamic successfully executed Indonesia’s first Shariah-restricted investment account, a structured investment product solution for corporate and institutional clients.
Best Islamic SME Bank
Dukhan Bank
Dukhan Bank has built one of Qatar’s most comprehensive and accessible small-business banking ecosystems, embracing home-based micro enterprises and established SMEs, with services ranging from digital-first onboarding to dedicated relationship managers and from Shariah-compliant financing to real-time payment acceptance.
The bank’s SME strategy focuses on innovation and digitalization. It recently established business links with several leading fintech and payment providers in the region. The investments in digital infrastructure will enable clients to ensure that its SME clients can manage their finances entirely online, reducing the need for branch visits, cutting administrative time, and enabling business decisions to be made in real time.
Best Islamic Trade Finance Provider
Maybank Islamic
Maybank Islamic has placed significant emphasis on Shariah-compliant trade finance solutions. Last year, Maybank Islamic iTrade Finance launched a holistic export solution that integrates key offerings such as letter of credits for receipt of export payment, export LC financing based on the issuing bank’s credit limit, foreign exchange and hedging solutions, cash management, and takaful. In addition, it has worked to improve transaction processes.
The export solution facilitated 2.3 billion Malaysian riggits ($580 million) in export LC flows last year and generated 2.6 million riggits in income, supported by export participation and growing cross-border trade activity. Maybank Islamic shifted from a standalone product approach to an ecosystem play, integrating halal trade enablement covering halal-certified supply chains, documentation, and cross-border flows. Supply-chain finance solutions that support buyers and suppliers; and regional and cross-border trade solutions connecting exporters to key regional markets. The change translated into shorter processing times, reduced errors, and higher client satisfaction, particularly for mid-caps, SMEs, and export-driven corporates.
Best Islamic Takaful
Tawuniya
Saudi provider Tawuniya offers more than 60 types of insurance. With 38 years of experience, it has established itself as the first choice for all insurance customer segments in the large Saudi market, with a 27% market share. It has also upgraded its digital service. Tawuniya reports SAR21.7 billion in assets and SAR5.4 billion in equity. Net profit jumped 8% last year and ROI increased to more than 20%.
Best Islamic Project Finance Provider
Kuwait Finance House (KFH)
KFH finances large projects at both the local and regional levels. Last year, it made inroads in sustainability and green finance, particularly in renewable energy. Regional infrastructure project finance was also a major focus. KFH Capital, the firm’s investment banking arm, was active in structured finance, including for a large Kuwait Petroleum Corporation facility.
Best Islamic Asset Manager
Qatar Islamic Bank (QIB)
QIB delivers Islamic asset management as part of its broader Shariah-compliant financial services offering, catering to institutional, corporate, and private customers across the Middle East and tailored to customer mandates, specific investment exposure, and participation in Islamic capital markets. Asset classes covered include sukuk-based investments, Islamic fixed-income portfolios, and structured investment solutions, supporting customers seeking capital preservation, income generation, and long-term growth within an Islamic finance framework.
