Global Finance magazine has announced its eleventh 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 and successfully met their customers’ needs for Shariah-compliant products, while creating the foundation for continued growth and safety in the future, with modern and efficient delivery channels.
“Islamic finance is spreading to serve Muslim populations around the world. By identifying the Best Islamic Financial Institutions, Global Finance gives readers insight into the providers delivering Shariah-complaint solutions that meet the needs of sophisticated customers with complex needs,” says Global Finance publisher and editorial director Joseph Giarraputo.
All selections were made by the Global Finance editorial team after extensive consultations with bankers, corporate finance executives and analysts throughout the world. In selecting these top firms, factors that range 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.