Top Islamic Financial Institutions 2024: Rankings and Performance

The Islamic banking landscape in 2024 remains a study in contrast between its two major heartlands of the Middle East and Asia-Pacific, which between them account for 96% of global sharia-compliant assets. While lenders in the Middle East (excluding Iran) saw asset growth of 11% for 2023, supported by growth in Saudi Arabia and the United Arab Emirates, banks in Asia saw their assets grow by just 3%, thanks to difficult market conditions in the key. markets in Malaysia and Bangladesh.

Taken as a whole, the 240 banks represented in The Banker’s Top Islamic Financial Institutions 2024 saw a 9% increase in sharia-compliant assets for 2023, compared to 5.4% for the World’s Top 1000 banks this year.