Meezan Bank Interest Free Loan Scheme. Because it eschews the charging and paying of interest and trading of assets that are non-Shariah compliant or haram, it is considered a more equitable and sustainable form of finance and has also gained popularity outside the Muslim world. After Malaysia, Bahrain and Indonesia have the next largest number of Islamic banks at 15 and 13, respectively. Islamic Bank Rank 2019 Bank Country Assets Net Loans Deposits Shareholder's Equity Net Interest Income Total Operating Income Operating Expenses Operating Profit Net Profit Operating Return on Assets (%) Return on Loan to Deposit Ratio (%) Cost to Income Ratio (%) NII to Total Operating Income (%) Equity to Assets Ratio (%) Capital Adequacy Ratio (%) Loan Loss Reserves to Gross NPLs (%) Gross NPL Ratio (%) Liquid Assets to Total Deposits and Borrowings (%) $million % Change $million % Change Rank $million % Change Rank $million Rank $million % Change Rank $million % Change Rank $million % Change $million % Change Rank $million % Change Rank Equity (%) Assets (%) Tier 1 Total 1 Al Rajhi Bank Saudi Arabia 97,298 6.4 62,393 0.2 72 78,347 7.6 52 12,943 1 3,533 10.2 44 4,625 9.1 46 1,464 4.9 3,161 11.2 35 2,745 12.9 46 3.4 19.9 2.9 79.6 31.6 23.6 13.3 19.1 20.2 342.0 0.95 33.1 2 Dubai Islamic Bank UAE 60,899 7.9 39,742 8.8 51 42,379 5.8 56 8,566 2 1,621 12.7 41 2,233 6.7 56 632 -0.6 1,601 9.9 39 1,362 11.1 48 2.7 16.2 2.3 93.8 28.3 27.4 14.1 16.3 17.5 121.4 3.45 18.2 3 Kuwait Finance House Kuwait 58,515 2.4 30,905 1.8 71 38,791 1.6 64 6,236 3 1,736 18.5 27 2,456 4.6 60 966 -4.1 1,490 11.1 37 868 23.1 35 2.6 13.1 1.5 79.7 39.3 29.3 10.7 15.9 17.5 171.8 2.23 43.3 4 Maybank Islamic Malaysia 54,459 11.2 42,140 7.5 55 41,433 10.9 41 2,534 10 1,012 17.2 30 1,131 20.2 22 412 20.5 719 20.1 29 478 13.7 45 1.4 20.8 0.9 101.7 36.4 10.4 4.7 18.0 22.5 122.0 1.19 18.9 5 Qatar Islamic Bank Qatar 42,088 1.9 28,073 -0.4 76 27,631 -1.2 73 5,334 5 810 3.4 65 1,241 8.6 49 319 5.0 922 9.9 40 725 17.3 41 2.2 13.1 1.7 101.6 25.7 34.8 12.7 17.8 18.8 177.5 1.15 n.a. 145.5 91 Al Janoob Islamic Bank for Investment and Finance Iraq 251 8.2 50 20.2 21 15 94.4 6 211 62 1 -66.1 92 7 -49.7 95 6 -34.4 1 -83.4 80 1 -76.3 79 0.3 0.3 0.3 344.3 89.7 86.1 84.3 n.a.
Source: Asian Banker Research, S&P Global Market Intelligence.
This study aims to show the path that Islamic banking follows of Sharia’ h while on the other hand commercial banks obeys commercial regulations and rules for the purpose of banking. The main objective of the Islamic banking is to offer interest free services and products which obeys the path of Sharia’ h and Islamic banking system makes transaction on the foundation of profit and loss, while on the other hand commercial banks are business oriented banks. The sampling method used in this… Expand.
In this year’s The Asian Banker Strongest Islamic Banks By Balance Sheet evaluation, Al Rajhi Bank is on the top of the list, while Dubai Islamic Bank and Kuwait Finance House came in second and third. The Asian Banker launched the inaugural evaluation of what will be an annual ranking of the largest and strongest Islamic banks, mainly in Asia Pacific, the Middle East and Africa.
It is higher than the average asset growth rates recorded by the 100 largest banks in the Middle East and the 500 largest banks in Asia Pacific, at 5.3% and 5.6%, respectively. On average, Saudi Arabia achieved the highest strength score at 3.9 out of five, followed by Kuwait (3.7), Qatar (3.5) and UAE (3.3).
The profitability and asset quality of Saudi Islamic banks are strong, and they maintained a robust capital position and ample liquidity. Their average return on assets (ROA) reached 2.5%, compared to 1.5% recorded by all the 100 banks.
To this effect the Quran has already prescribed on the believers “not to devour your assets among yourself in vanity, except in trading by your consent”. Islamic law does not restrict consideration to a monetary price, it may be in the form of another commodity (barter). Musyarakah (Joint venture) Refers to a partnership or JV for a specific business Distribution of profits will be apportioned to the pre agreed ratio.
Only documents evidencing real debts arising from bona fide merchant transactions can be traded. Sharing of profit or surplus is made only after the obligation of assisting the fellow participants has been fulfilled.
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