Monetary and Banking Research Institute
Date:8/13/2019 3:03:10 PM   |   Code : 304449   |   View: 6

World's Top Islamic Financial Institutions in 2018

The Monetary and Banking Research Institute of the Central Bank has translated and published The Banker’s report on the ranking of the world's top Islamic financial institutions for the year 2018.
 

According to the Public Relations of MBRI, in the introduction of the report, translated by Leila Mehrabi, states: In recent years, Islamic financial markets have been able to achieve significant growth in global markets through expanded product portfolios, the provision of financial services investable in infrastructures, and offering more services to attract new customers. In this regard, the ranking of the top Islamic financial institutions by The Banker also indicates that despite the challenges facing the Islamic banking system, the Islamic financial industry has been growing at a fast pace in the past year. In addition to the rapid growth of Sharia-compliant assets in each region, it has also seen an increase in the number of newly established institutions in less developed markets.

According to the latest ranking of the world's top Islamic financial institutions, published by The Banker in 2018, the long-term growth of Islamic banking in various regions, including Sub-Saharan Africa and South Asia, has been relatively stable and the total value of the Sharia-compliant assets in the world is equivalent to $ 1624 billion, which fully Islamic banks are holding $ 1255 billion.

Besides, Islamic banks have generated a profit of $ 15.2 billion, with an average rate of return on assets of 21.1 percent during the year of 2018. Meanwhile, the role of Iranian banks and financial institutions among commercial banks and specialized banks, insurance companies, and financial and credit institutions continues to be very prominent in terms of volume of assets. Saudi Arabia and Malaysia are next after Iran in this ranking.

The report concludes: The results of the ranking of the top Islamic financial institutions in the world by The Banker in 2018 clearly show that the Islamic banking industry is in good health. The high growth in assets and profitability of Islamic banks indicates the expansion of Shariah-compliant services in less developed markets, and the increase in these two factors could provide a clear prospect for the industry to grow in the coming years.

Those interested in accessing and reading the full text of this report can visit the Monetary and Banking Research Institute Portal at www.mbri.ac.ir

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