In view of the coronavirus disease (COVID-19) outbreak, all event schedules have been moved to a time when we reasonably expect the crisis to be contained. Among CIMB’s recent highlights was the world’s largest ever sukuk to date: a MYR34.35 billion (US$11.08 billion) Islamic medium term note programme from Projek Lebuhraya Usahasama (PLUS), the highway group. The parent has also been helpful in other ways: first with a three-year capital injection programme, which in turn has helped secure strong ratings; and secondly as a cross-selling opportunity. Banks are the backbone of the national economies and collectively, they decide the global economy. The information available on this date is used to compile the full world and country rankings. Bank Syariah Mandiri’s market strength has grown dramatically since 2007, with total financing, deposits and assets all up four times over since then. Nevertheless, Pakistan is on something of an upswing: its gross domestic product (GDP) grew a decent 3.7% in fiscal 2012, and the KSE 100 equity index rose 49%, one of the best in the world, during the year. The world of Islamic finance continues to evolve in terms of complexity and depth. In recent years Abu Dhabi Islamic Bank (ADIB) has embodied efficiency and ambition. The group launched 35 products into the market in the first 11 months of 2012, and said it had a further 59 in the pipeline. BIBD was also the first institution to launch Islamic mutual funds in Brunei, and it has subsidiary businesses for fixed deposits, vehicle hire purchase, consumer product financing, securities and brokerage, takaful and investment banking, with a particular trophy being a co-lead role on the Republic of Indonesia’s US$1 billion sukuk issue in 2011. Affin Bank – A wholly owned subsidiary of Affin Holdings Berhad (AHB). Best Islamic Bank in Qatar Qatar Islamic Bank. In Qatar’s case, Barwa is winning praise for its rapid growth, particularly in sukuk, but it has not yet quite made sufficient ground to make an argument for it to dislodge Qatar Islamic Bank as the leading Islamic bank in the country. The opportunity to grow Islamic finance services in Indonesia is highly appealing. The overall profitability of Islamic banks weakened amid the pandemic. China Private Banking and Wealth Management Awards, The Best Retail Financial Services Rankings, TAB Finance Diary of Events (Full Event Diary), The Heads of Retail Finance Virtual Meeting, Financial Services and Related Research Sources, Al Rajhi Banking & Investment Corporation (Malaysia), Kurdistan International Islamic Bank for Investment and Development. In February it reported a 9% year-on-year rise in net profit for 2012, at KWD87.7 million (US$306.97 million), with its capital adequacy ratio up to 14%. ASIAMONEY reveals which institutions have done the best job. Changes are made based on our coordination with the local industry players. One Gulf market in which the traditional Islamic banking leader is facing renewed external threats is Kuwait. Meezan has deposits of PKR230.43 billion (US$2.34 billion) and total assets of PKR274 billion. Whether banks are your competitors, counterparties or clients, you need the Top 1000 World Banks 2020 … And boasting a return on equity of 22.54%, Al Rajhi enjoys strong favour with its investors. Best Islamic Bank in Brunei Bank Islam Brunei Darussalam. In Bahrain it offers retail and investment banking services. The strength score of the bank dropped from 4.16 in the previous year’s evaluation to 4.05 in 1H 2020, due to the … Forbes ranks the world's best banks. Sharia principles are no barrier to stable long-term growth. Best Islamic Bank in the Middle East Al Rajhi. A look at the numbers of Meezan Bank secures it this particular award. It is one of the fastest growing religions and … As of September 2013, 15,354 people were employed in the Shariah bank. Annual deposits and other accounts soared 36% during calendar year 2012; Islamic financing and related assets were up 26%; investments increased 55%; total assets expanded 37%; shareholders’ equity rose 16%. According to the Banker International Institute, the Agricultural Banks of Turkey and Al-Salam Algeria are ranked first and second in the world. Yet despite this it remains the clear national leader in Islamic finance. The State Bank of India is the largest commercial bank in India. Top 10 Richest Muslim Women in the World 2020 Updated List. Agricultural Bank of China. It is now the fourth-largest Islamic bank globally by assets, has huge backers in its majority ownership by the Abu Dhabi ruling family and sovereign wealth fund, and now has decent on-the-ground reach as well, with 75 branches, 549 ATMs and over half a million customers. * FY2019 data In March the first tangible sign of this came with the launch of KFH Real Estate Company, a separate investment vehicle formed out of its fully-owned subsidiary Nakheel United Real Estate. At this time its asset base stood at QAR66.8 billion (US$183.35 million), up 26.7% year on year, with a net profit of QAR1.13 billion. The good news of 2020 – the 50th anniversary of the ranking – is that the global banking industry is broadly in good shape. The United Arab Emirates may have the buildings, and Qatar the headlines, but Saudi Arabia, to put it simply, is the whole point. November 12, 2020. The good news of 2020 – the 50th anniversary of the ranking – is that the … In September 2011, CIMB set about a new range of regional initiatives, coinciding with its merger of its corporate banking, treasury and markets businesses. This bank may lack Al Rajhi’s financial strength, being rated ‘BBB-‘ by Standard & Poor’s, but Al Baraka is growing fast and has an impressive asset base for its breadth, with US$19 billion in assets by the end of 2012. Alongside that it can also boast of corporate and investment banking operations in Brunei and outside the region in Bahrain, linking the operation to the lucrative funds of the Middle East. Among the top 10 banks and the world's most full Islamic institutions, there are three banks from Iran, from Turkey, Kuwait, Bangladesh, Sudan, Oman and Syria each ranked as the top banks. The bank’s total assets in 2012 grew 9% to KWD14.7 billion, with deposits up 6% to KWD9.4 billion. The average asset growth of Islamic banks listed accelerated from 8.7% year-on-year (yoy) at the end of 1H FY2019 to 13% yoy at the end of 1H FY2020, which is higher than the average asset growth recorded by the 200 largest banks in the Middle East and Africa at 10.9% yoy and the 500 largest banks in Asia Pacific at 10.3% yoy. Prime banks trade instruments such as world paper, International Monetary Fund … It only requires the 14 bank branches possessed by BIBD to cover all of the tiny Borneo nation; the bank speaks with pride of its 47 ATM machines. Beyond that, corporate finance is growing, while the bank ranks second in equity brokerage now through its Al Rajhi Capital arm, which is also a major player in asset management, and increasingly active in investment banking and research. Best Islamic Bank in Bahrain Al Baraka Islamic Bank. CIMB Niaga itself is the fifth largest bank in Indonesia, providing a suitable bedrock upon which to build a Shariah, or Islamic law-compliant financial business that should make the most of Indonesia’s vast, and insufficiently tapped, potential for Islamic finance. Following that, six more banks were established. Why, in June 2012, did a single annual general meeting cover two whole financial years to approve financial statements going back to 2010? Al Rajhi was exclusive financial adviser on the financing, which was made exceptionally complex by the land title structures that relate to Saudi Arabia’s holy cities: one can’t say that anyone owns this holy land. Citigroup CEO Michael Corbat took the No. ADIB is becoming more active internationally, with expansion so far in Egypt, Iraq, the UK and Saudi Arabia. It has advised governments on Islamic finance frameworks particularly around domestic capital markets in Indonesia, Thailand, Singapore, South Korea, Hong Kong and the UK, relationships that now stand the group in good stead for expansion. It has securitised home loans, auto loans, bonds, property and government receivables in Shariah-compliant ways. Copying and distributing are prohibited without permission of the publisher. In the main, the bank lets its assets speak for it: SAR247.2 billion (US$65.92 billion) on September 30, with net profit of SAR7.885 billion in 2012. Total assets were up 14% year on year in 2012 to AED85.7 billion, with customer financing up 11%, customer deposits 13%, capital resources 23%, revenues 13% and net profits 9%; the return on shareholders’ equity in 2012 was 17.7%, with a total capital adequacy ratio of 21.4% and a Tier 1 ratio of 18.4%. The bookrunners launched a AED4.4 billion eight-year amortising term loan, then underwrote a US$650 million Regulation S sukuk. Added to that it conducted a further 192 global sukuk issues. According to The Banker, as of November 2015, three out of ten top Islamic banks in the world based on return on assets were Iranian. CIMB dominates sukuk bond issuance in Malaysia to a remarkable degree. Average return on assets (ROA) stood at 1.1% in 1H FY2020, lower than 1.5% in 1H FY2019, and cost to income ratio was up slightly from 41.3% to 41.5%. ICBC (Industrial and Commercial Bank of China), a state-owned financial institution, is the world’s biggest bank by total assets and deposits. This year, financial information in the first half of financial year 2020 (1H FY2020) was collated and incorporated into the assessment of how Islamic banks performed during the COVID-19 pandemic. Aside from being the clear leader in Malaysian sukuk, or Islamic bonds, discussed in detail in the Malaysia category, the bank also lead managed 15.7% of all global sukuk in the year to October 31, handling 192 global issues. Al Rajhi’s other major overseas presences are in Kuwait and Jordan. Reflecting that buoyancy, Meezan – which turned 10 years old in 2012 – is, according to chairman Ebrahim Bin Khalifa Al-Khalifa, the fastest-growing bank in the history of Pakistan over that period. A standout transaction in 2012 involved the US$1.33 billion ijarah mawsufah fi zimmah financing for Jabal Omar, a US$6 billion real estate and hospitality development near the Grand Mosque in Mecca. # Adjusted for balance sheet growth and asset quality The list is based on the April, 2020 S&P Global Market Intelligence report of the 100 largest banks in the world. According to Internal and Islamic Economics Division, Research Department, Bangladesh Bank, at the end of September 2016, eight full-fledged Islamic banks … Or scale and safety, a vote for steadiness in continuing uncertain times? A more recent investor presentation from February 2013 lists total assets in Bank Syariah Mandiri at IDR54.2 trillion, total deposits of IDR47.4 trillion and a return on equity of 25.04% – good business. No other bank can offer this compelling mix of investment banking leadership and innovation with a solid corporate and retail presence. Maybank Islamic is the largest Islamic bank in the ASEAN region and one of the five largest Islamic banks globally, with total assets of $55 billion. Al Rajhi has had a difficult year, once again facing allegations of terrorist financing following a US Senate investigation into HSBC in July. Enjoying a strong brand name in trade finance, the bank … It is successful in corporate banking too, arranging big bilateral Islamic facilities for Dana Infra’s mass rapid transit project and for an aircraft acquisition by Malaysian Airlines. Best Islamic Bank in Saudi Arabia Al Rajhi. Malaysia, Saudi Arabia, the UAE, Qatar and Kuwait are the largest markets in terms of the Islamic bank assets, with their aggregate assets representing 79% of the combined assets of the 100 largest Islamic banks. Daring expansion and innovation? The bank handled 29.2% of all ringgit sukuk between January 1 and October 31, 2012 – a total of 204 issues. Interestingly, there’s been significant change in … Mandiri accounted for this figure as part of a group-wide fee-based income figure of IDR1.3 trillion, which suggests that revenues from Shariah business are becoming highly notable within the broader bank. Citi has estimated that Al Rajhi’s 2014 net income could be double what it was before the financial crisis, with a return on equity of around 25%. Although the increasing foreign exposure of Qatar’s banks is a growing … The 20 most generous people in the world. World’s Best Digital Banks 2020 Round 2: Demand Develops . Top 1000 World Banks 2020 The results of this year’s Top 1000 World Bank ranking must be regarded as the calm before the storm. *The World Islamic Banking Conference 2016, which will be held at Art Rotana Amwaj Bahrain from December 5-7, will address issues in Islamic … Sharia advisory councils and consultants. An Islamic bank branch in the UMNO building in Kota Kinabalu. The Asian Banker’s 500 strongest banks rankings is one the world… For the moment, though, Kuwait Finance House is the bank with the broadest range of business, covering personal and commercial banking, leasing (a particular strength), asset management, private banking, project finance and real estate. With a total combined donation amount of $106.8 billion, these 20 individuals are the top philanthropists in the world Doha The Asian Banker magazine has ranked Qatar Islamic Bank (QIB) as the ‘Third Strongest Islamic Bank in the World’ and ‘Eighth Strongest Bank in the Middle East’ in its 2020 rankings of the 500 strongest banks. Whereas Malaysia’s CIMB has become a universal bank, having grown from investment banking roots, Meezan has built its presence from a consumer banking background. The Asian Banker’s 500 Strongest Banks Rankings is one the world… Al Rajhi also has the largest network of branches and ATMs (500 and 3,100 respectively), with 25,000 point of sale locations, in order to serve that base. In 2015, it was ranked 59 th on the list of Top 1000 Banks in the World … From its roots as a brainy but limited-reach investment bank in Malaysia, CIMB Islamic can now claim to be a universal Islamic banking operation in four Asian markets: Malaysia, Indonesia, Thailand and Singapore. By total assets. In Meezan it is refreshing to see an emerging market Islamic bank get its 2012 annual report out by March 2013 and for it to be well thought out, clear and informative. Views and opinions expressed on this website belong strictly to individual authors/contributors and do not represent The Asian Banker Globally, Al Baraka has turned into one of the bigger forces in Islamic finance. The Chinese and American Banks … Qatar Islamic Bank, after all has just under 40% of the Qatar Islamic banking market, and 11% of the country’s entire national banking system. That was enough to give lenders sufficient comfort to release their funds, without falling foul of Mecca property law or the people who enforce it. Each bank's performance across these categories is then used to generate an overall "Best-Performing Bank" score and ranking. We cover banks in all countries with Islamic banks including western and non-Islamic … It is, about as far as is possible in a small market, a diversified universal business, with consumer banking accounting for 65% of revenue, corporate banking 19% and institutional banking 13%. Top 30 banks by assets in Africa and Middle East, 2020 Despite an economic slowdown on the back of global trade tensions, China's largest banks continued to grow in 2019 and further embedded their positions among the world's biggest banks, S&P Global Market Intelligence's annual global bank … This is the biggest container port between Rotterdam and Singapore and accounted for 21% of Dubai’s GDP in 2009, and is a Dubai flagship – but it faced a maturing AED7.5 billion (US$2 billion) floating rate sukuk that had been launched in far brighter economic days in 2007. The top ten countries by savings rate were Macao, the Republic of the Congo, Qatar, Ireland, Brunei, Singapore, Luxembourg, Gabon, the UAE, and China. At the same time non-performing loans (NPLs, or non-performing financings to use the Shariah equivalent) have fallen from 3.43% in 2007 to 0.95% in 2011, before nudging up again to 1.07% last year. The four largest banks are headquartered in China. One other thing: many Islamic institutions look well-placed for growth but don’t produce the best investor relations material (witness Bank Syariah Mandiri, although its parent is better). The strength score of the bank dropped from 4.16 in the previous year’s evaluation to 4.05 in 1H 2020, due to the increase in gross non-performing loan (NPL) ratio from 0.85% to 1.02% and loan to deposit ratio from 79% to 82%, along with the drop in profit growth. The world’s third-largest Islamic bank by total assets offers a wide range of shariah-compliant products and services to wholesale, corporate and other clients. It seems that Indonesia’s government and regulators finally appear to be serious about this: the sovereign’s global sukuk are fairly regularly issued, closely followed and widely sought, and most of the legal infrastructure is in place now to encourage further growth. Its solution was an Islamic land-lease and asset ownership structure involving the safeguarding, but not the transfer, of title deeds by a Saudi-owned security agent. The ranking was based upon assets as reported and was not adjusted for … Indonesia’s government has set a target of 10% of total bank assets being Shariah-compliant by 2015-20. Much like Abu Dhabi Islamic Bank, Qatar Islamic Bank’s own issues are capital markets landmarks in the Islamic world, with a US$750 million five-year sukuk deal in October that attracted a US$6 billion order book despite paying only 2.5% profit rate (the sukuk equivalent of interest or yield). The mood in the region still requires the latter of these, and for that reason Al Rajhi – conservative and reliable – remains our choice for the region. The top 10 banks hold combined assets of about $28 trillion. There were 505 Islamic banks in 2017, including 207 Islamic Banking windows. As a business, Al Rajhi embodies steady efficiency, often logging twice the return on equity of its Saudi peers; it continued to make money through 2009 when the rest of the sector was belatedly hit by the global financial crisis. Size isn’t everything, but Qatar Islamic Bank appears to be in rude health too. . We highlight Al Rajhi despite the fact that its regional presence is not as dynamic as, say, Kuwait Finance House or Al Baraka; leaving aside its considerable Malaysian operation. Overall, among the top 10 best CEOs in the world for 2020, the ninth and tenth positions are held by Alphabet CEO Sundar Pichai and General Dynamics chief executive Phebe Novakovic. Chris Wright reports. If Islamic banks are to win over the market, they have to collaborate. 9455**2050 Sharia advisory councils and consultants. But it’s possible to make the case for a regional award what is in truth a largely domestic business because of the sheer importance of the Saudi economy and markets within the region. Islamic assets represent 23.1% of the Malaysian banking system yet in Indonesia it’s just 4.7%, despite the latter possessing a far bigger Muslim population. This post gives you an insight into the ten wealthiest Muslim women as of now. Industrial and Commercial Bank Of China Ltd. (IDCBY) Revenue (TTM): $123.6B. Additionally the bank was involved in DanaIfra Nasional’s MYRB2.4 billion Islamic medium term notes issues; big power and energy sukuk fundraisings for Kimanis Power and TNB Janamanjung; and deals taking Malaysians offshore for Axiata and Khazanah, discussed in the Asia section. It’s a somewhat broad target, but the intention is clear. Best Islamic Bank in Kuwait Kuwait Finance House. Doha The Asian Banker magazine has ranked Qatar Islamic Bank (QIB) as the ‘Third Strongest Islamic Bank in the World’ and ‘Eighth Strongest Bank in the Middle East’ in its 2020 rankings of the 500 strongest banks.The Asian Banker’s 500 strongest banks rankings is one the world… ... Safest Islamic Banks In The GCC . Indonesia continues its steady belated take-up of Islamic finance, and Bank Syariah Mandiri, as the biggest Islamic lender in the country, remains the institution in the best shape to benefit. All Rights Reserved. What is apparent is that IDR551.1 billion (US$56.76 million) of profits were accrued from the Islamic division in the 2011 financial year. Top banks have been playing a very pivotal role in the people’s loves. The Malaysian banking sector consist of 27 commercial banks (including 19 licensed foreign banks), 11 investment banks, 18 Islamic banks as well as non-bank financial institutions. 3 – Sultanah Nur Zahirah. According to the Banker International Institute, the Agricultural Banks of Turkey and Al-Salam Algeria are ranked first and second in the world. Saudi Arabia-based Al Rajhi Bank has retained its top spot as the strongest Islamic bank. This award, though, is for the bank’s Bahrain business: Al Baraka’s home and the location of one of its two listings (the other being Nasdaq Dubai). ... Top 50 Safest Banks In Europe 2020 . Meezan Bank from Pakistan is the strongest Islamic bank in Asia. The bank reported a 24.34% return on average equity in 2012 and has a healthy capital adequacy ratio of 14.08% (Pakistan’s banking regulator requires 10%). Shortly afterwards, it arranged a €500 million (US$638.56 million) revolving murabaha financing facility for Qatar Telecom, the first Islamic finance deal the telco had signed, demonstrating Qatar Islamic Bank’s ability to boost Islamic finance in its home country. To put that into context, the 11 banks offering Shariah-compliant financial services in Indonesia had IDR199.7 trillion in assets between them by the end of 2012, putting Mandiri at about a quarter of the market. Other big Shariah-compliant deals have included IPOs for Felda Global Ventures (at MYR10.4 billion it was, by the middle of 2012, the second biggest IPO worldwide after Facebook) and IHH Healthcare, which was the awarded best regional initial public offering for 2012 by Asiamoney. Saudi Arabia-based Al Rajhi Bank has retained its top spot as the strongest Islamic bank. In Malaysia, it controls 30% of the Islamic banking industry and its products and services are available through a network across Malaysia, Indonesia, Singapore, Hong Kong, London and Bahrain. The Islamic bank operates from 712 offices in 33 provinces, a reminder of the vast assistance it gets from having such a strong and prominent parent. It oversees a network of more than 20,000 branches and 189 international offices in 35 countries. BIBD remains the only logical choice for this award in Brunei, formed by the 2005 merger of the two major Islamic financial institutions in the country. EY’s note to banks “Challenge yourself to co-create digital solutions”. Deep Knowledge Group. The bank today has corporate, investment and commercial banking segments alongside asset management (through subsidiary Al Meezan Investment Management) and treasury, although consumer remains the heart of the institution. Best Islamic Bank in United Arab Emirates Abu Dhabi Islamic Bank. Flowing from that is a retail financing business that gives Al Rajhi the Islamic equivalent of a net interest margin of just under 4.5%; the sector as a whole is more like 2.8%. However, the number of players is not necessarily indicative of the size of the industry, in terms of assets. What should be the most important criterion when awarding the top Islamic bank award in the Middle East? Best Islamic Bank in Indonesia Bank Syariah Mandiri. ... have inherited the family business or own their banks. 11 spot, followed by Mark Zuckerberg (No.12) and UnitedHealth Group’s CEO David S. Wichmann (No.13). Al Rajhi is the clear Islamic leader in Saudi Arabia. It was not only the first-ever Shariah-compliant Tier 1 issue, but the first Tier 1 instrument from any Middle Eastern bank, whether conventional or Islamic. Global Finance Names The World’s Best Islamic Financial Institutions 2019 World’s Best Islamic Financial Institutions 2019 – Country Winners Afghanistan Afghanistan International Bank Algeria Banque Al Baraka D’Algérie Bahrain Al Salam Bank Bangladesh Standard Chartered Saadiq Bangladesh Brunei Darussalam Bank Islam Brunei Darussalam Egypt Abu Dhabi Islamic Bank Egypt It was no vanilla financing exercise. Profit, at PKR3.5 billion after tax, is somewhat slim today, but that’s still a near quadrupling since 2007, and the prospects are impressive in a market in which Islamic finance is very much the preferred direction of the local banking system. If you’re sensing a trend here, you’re not alone. November 23, 2020. The latter was up 7% on the previous year, while its banking revenue was up 34%. Much like Abu Dhabi Islamic Bank, Qatar Islamic Bank’s own issues are capital markets landmarks in the Islamic world, with a US$750 million five-year sukuk deal in October that attracted a … Meeting the needs of an increasingly sophisticated clientele is not an easy task. The bank recorded a lower cost to income ratio from 47% to 40% and a higher ROA from 1.5% to 2.0%. It was … It describes itself as being “solely entrusted to take on the task of delivering a successful consent solicitation exercise involving almost the entire market” to ensure the success of the transaction. Whatever the case, they are handling all their work with the utmost elegance and hard work. It appears to be in strong shape, with around US$4.8 billion of assets and total equity of US$766 million generating a pre-tax profit of US$87 million in 2011. In a mode of continuing expansion – its branch network went from 275 to 310 during 2012 – profit growth has been tempered by expenses, but still both net profit and earnings per share were up 3% in 2012. Among other things, the aim is to regionalise products and services – so a new product in one country can easily be adapted for another with the help of the same originating team; to regionalise client coverage, drive cross-border collaboration and cross selling, and to offer hedging and risk management solutions regionally. Among other steps, executing the transaction involved a buyback exercise from nine sets of bondholders, and a consent solicitation with a further seven, concurrently. 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