Iran’s Revolutionary Guard Corps released a video of what they say were missiles launched by their naval forces in retaliation of US strikes. US-Iran tensions have been escalating in the Strait of Hormuz leading to its closure and exchange of strikes between US and Iran.
Published On 12 Jul 202612 Jul 2026
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Nouakchott, Mauritania – Across a vast stretch of the Sahel and West Africa, armed groups are expanding their reach, military governments are replacing fragile democracies, and “counterterrorism” efforts continue to contend with armed violence, often rooted in poverty and challenging living conditions.
While the Sahel has become synonymous with instability, tucked between the region and the Atlantic coast sits Mauritania, a country that has somehow managed to douse the flame. The explanation for this resilience often begins with a woman in a headscarf sitting across from a young man or a woman in a prison cell, talking about God.
Mauritania’s mourchidates are female Islamic spiritual guides, trained, certified, and deployed by the state under the Ministry of Islamic Affairs since 2021. They are not a new phenomenon, as the programme has its roots in Morocco.
Morocco’s mourchidates were introduced after the 2003 Casablanca bombings, a series of coordinated attacks in the Moroccan city that killed dozens and injured hundreds, as part of a broader religious reform.
Youssra Biare, a Moroccan researcher, states: “Morocco’s mourchidates offer one of the most established examples of women’s religious leadership as a tool for peace-building and preventing violent ‘extremism’.”
Since the programme’s launch in 2006, Morocco’s mourchidates have received formal theological and social training, which enables them to provide religious guidance and family counselling.
“Beyond their role in countering extremist narratives, they address the social and emotional factors that can make young people vulnerable to radicalisation,” Biare told Al Jazeera.
“For countries such as Mauritania, the Moroccan model demonstrates how investing in well-trained female religious leaders can strengthen community trust, promote moderate religious discourse, and create culturally grounded approaches to youth de-radicalisation and social cohesion.”
The mourchidates operate across schools, youth centres, mosques, hospitals, and, critically, prisons. They provide religious counsel grounded in mainstream Islamic scholarship, challenge the theological justifications that armed groups use, and offer a credible alternative to their narratives.
What makes the programme distinctive is the involvement of women with dedicated religious scholarship. More than social workers with a passing familiarity with Islamic texts, the mourchidates are trained in Quranic interpretation, Islamic jurisprudence, and the history of theological thought.
When they sit with detainees convinced that violence is a religious obligation, they can engage on their own terms and dismantle those arguments point by point.
Prisons have long been recognised globally as sites of radicalisation, where recruitment networks operate. Mauritania, however, has pursued a different approach. Inside its prisons, mourchidates engage detainees linked to armed groups operating in the Sahel region, including those convicted of planning or participating in attacks across Mauritania, as well as those joining radicalised groups in neighbouring countries.
Their work goes beyond pastoral care to critically engage prison populations on an ideological level. They sit with these people over extended periods, building trust and addressing the theological arguments that justified violence, such as the belief that attacks on civilians could be sanctioned in the name of religion.
By patiently challenging these interpretations and offering alternative readings of Islamic texts, the mourchidates gradually open space for detainees to reconsider their choices.
De-radicalisation, when it works, tends to be built on relationships. The mourchidates, through their close ties to communities, are often well-placed to build these relationships in ways that male guards, military officials, or even male religious scholars are not always able to.
A significant portion of what mourchidates do is preventive, operating in community spaces to reach young people before they become vulnerable to recruitment. Armed groups exploit unemployment, marginalisation, and legitimate grievances to draw young men and women to their cause, often using the language of faith.
Countering this radicalisation requires a coherent narrative more than a militaristic approach, and that is precisely what the mourchidates provide.
“One of the strengths of the Mauritanian model is that it understood early on that violent extremism cannot be addressed through security responses alone,” Aminata Dia, a Mauritanian founding member of Elles Du Sahel Network and the executive director of the nonprofit Malaama, told Al Jazeera.
“The country invested in prevention, religious dialogue and community trust-building, particularly through the mourchidates programme,” she said.
Yahia Elhoussein, a scholar who runs a maourchidate school in Nouakchott, told Al Jazeera that this approach works due to its credibility.
“The mourchidates were deployed by the Ministry of Islamic Affairs to different parts of the country, where they educated young people on the true teachings of Islam, such as tolerance, charity, and accountability, playing an important role in de-radicalisation without any use of force,” Elhoussein said.
The results, while difficult to quantify, are reflected in Mauritania’s regional trajectory. The country has not been immune to threats from armed groups, enduring attacks in the mid-to-late 2000s that pushed it to reassess its approach.
What followed was a comprehensive strategy combining intelligence, community engagement, religious reform, and programmes like the mourchidates. Since then, Mauritania has largely avoided the scale of attacks that have devastated its neighbours, such as Mali and Burkina Faso.
Security analysts point to Mauritania as a case study for a preventive model, investing in conditions that make radicalisation less likely rather than responding solely to violence. The mourchidates are central to that model.
None of this suggests that Mauritania has solved the problem, or that its approach is without limitations. The country faces governance challenges, while the broader Sahel region continues to experience expanding armed violence, poverty, displacement, and weak state presence, pressures that no single programme can fully address.
Critics note that the reach of the mourchidates, while meaningful, remains constrained by resources and scale.
There are also questions about how replicable this model is elsewhere. Morocco’s version has been partially adapted in other Muslim-majority countries, but conditions in Mauritania, a deeply religious society, such as respected female scholarship, credible state authority, and political will, make it unique.
In Burkina Faso, Mali, and Niger, replicating this model would require rebuilding trust between the state and the community, which appears to have eroded.
At a time when international counterterrorism policy in the Sahel is dominated by military presence, drone strikes, and external interventions, Mauritania’s experience offers a different lesson. Some of the most effective tools for preventing violent activism are not found in special forces and military operations but in trained women, armed with knowledge and patience.
“Mauritania’s mourchidates prove that community-based approaches can be more effective than any other approach,” said Elhoussein.
Global Finance’s World’s Best IFI winners outperformed the sector in 2025, emphasizing innovation and AI adoption. But new Mideast conflicts pose new challenges.
Islamic financial institutions (IFIs) modestly improved their performance in 2025, recording an average Return on Average Assets of 2% and a 12% increase in total assets. This compares to 1.9% and 9%, respectively, in the prior year. The winners of Global Finance’s World’s Best Islamic Financial Institutions Awards all achieved above-average profitability and growth.
Digitalization and AI remain strong areas of focus and investment as IFIs seek to drive customer growth, increase financing assets and deposits, and strengthen their competitiveness against conventional banks. Retail banking remains the main pillar of most Islamic banks, but IFIs are strengthening their commercial banking delivery as well. Corporate finance, capital markets, and wealth management activities are also becoming increasingly important to the sector.
A relatively low cost of funds contributes to Islamic banks’ positive margins. The biggest of the group, which dominate their domestic markets, continue to outperform their rivals, reflecting funding advantages and cost efficiencies.
The winners of Global Finance’s 2026 World’s Best Islamic Financial Institutions Awards have also distinguished themselves as innovative by introducing new Islamic banking products, consolidating their market share, improving service quality, and achieving good financial results. Collectively, they have shown themselves to be well managed with clear strategies. Like all Middle Eastern banks, however, they face a more challenging road ahead due to the new conflicts in the region, particularly the Iran war that’s disrupted the Persian Gulf.
This year’s top winner, Kuwait Finance House (KFH), enjoyed asset growth of 17% last year, to $139 billion, helping the bank maintain its position as the second-largest Islamic institution globally. KFH has the most diverse geographical reach of any IFI, with operations throughout the Middle East, Europe, and Asia. It has advanced its digital transformation by shifting from basic digitization to value-driven technology adoption.
Meanwhile, Boubyan Bank claimed Global Finance’s inaugural award as Most Innovative Islamic Bank. The bank stands apart for its innovation, technology-driven strategy, and strong commitment to offering financial solutions that enhance the customer experience. Boubyan made significant progress last year in embedding AI into services offered through its app.
Emirates Islamic Bank (EIB) took home the Best Islamic Financial Institution in The Middle East. The bank notched 19% growth in net profit last year, to $910 million, driven by robust balance-sheet growth. Lending grew 26% over both retail and corporate banking. Supported by a sophisticated digital offering, EIB has seen its franchise strengthen through a wide range of Shariah-compliant pro-duct offerings.
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Awards Award Winners World’s Best Islamic Financial Institutions 2026: Country and Territory Winners
In 2026, Islamic financial institutions continue to demonstrate resilience, innovation, and regional impact.
Across the Middle East, Asia, and beyond, leaders are balancing robust growth with Shariah-compliant practices, setting new standards in both domestic and cross-border markets.
Institutions are harnessing digital transformation to deliver more efficient, accessible, and customer-focused banking, from mobile apps and AI-powered services to fully digitized payment and investment platforms. Their portfolios span retail, corporate, and wealth banking, while many are pioneering new products in sukuk, digital savings, and Shariah-compliant investment solutions.
Regional leaders are also championing financial inclusion, SME support, and sustainable initiatives, reflecting a commitment to both community development and responsible growth. Across markets, the combination of innovative technology, solid performance, and ethical finance is positioning these institutions as benchmarks of excellence in the global Islamic finance landscape.
Standard Chartered Saadiq (SCS)
SCS is a leading Islamic financial institution throughout Asia and particularly in Malaysia, Pakistan, Brunei, Singapore, and Indonesia, providing innovative solutions for Shariah-compliant financial needs. With the support of parent Standard Chartered Bank, it also provides access to the global banking and financial markets. SCS is active across corporate and investment banking, trade finance, wealth management, and retail and private banking as well as the sukuk market.
Emirates Islamic Bank (EIB)
EIB had a banner year in 2025, reporting net profit up 19% at 3.3 billion UAE dirhams ($899 billion), driven by robust balance-sheet growth and higher recoveries. Financing growth was 26% over the retail and corporate banking segments. Total income in retail banking and wealth management increased 14%, driven by increased customer liabilities and Islamic financing growth. Total income from corporate and institutional banking increased 15%. Supported by a sophisticated digital offering, EIB’s franchise has strengthened across a broad menu of Shariah-compliant products.
KFH Bahrain
Part of the KFH Group, KFH Bahrain continued to develop its domestic franchise last year; to focus more closely on the local Islamic market, it sold its stake in Oman’s Ahlibank. A signal achievement in 2025 was the successful, $400 billion Additional Tier 1 Sukuk offering, the largest of its kind ever in Kuwait. Also last year, KFH Bahrain launched the KFH Gold Account, Bahrain’s first digital gold investment and savings account. KFH’s MyHassad Savings Scheme is now the island kingdom’s largest prize-based savings product, with a record-breaking deposit portfolio of $675 million following 17% growth last year. The bank also completed its fully digitized Liquidity Management Solution in 2025.
Bank Islam Brunei Darussalam
Bank Islam Brunei Darussalam is the dominant bank in Islamic finance in Brunei Darussalam, with assets of $8.3 billion covering a range of Islamic SME and consumer financing products.
ADIB Egypt
A leading performer in Egypt’s Islamic banking sector, ADIB Egypt reported assets of $7.3 billion last year, up by 42% in US dollar terms, thanks to growing market share as net profit grew 25% to $256 million. ADIB Egypt offers retail and corporate banking services together with investment banking, leasing, asset management, and microfinance.
Bank Muamalat
Indonesia’s first Islamic bank, founded in 1991, Bank Muamalat today holds total assets of $4 billion. It provides a comprehensive range of Shariah-compliant financial services and has pioneered many Islamic banking products in Indonesia.
Islamic International Arab Bank (IIAB)
IIAB takes the title as 2026 Best IFI for Jordan thanks to a strong performance in 2025, significant digital progress, and a widening business reach. Growth was in double figures and assets now total some $6 billion. IIAB holds a 22% market share of Islamic assets in the kingdom. IIAB serves individuals, SMEs and large corporates, in addition to financing large projects. It has been an initiator of multiple domestic SME enablers, including the Kafalah Scheme, Jordan’s first Shariah-compliant finance guarantee scheme, and jointly organized the first Islamic funds mobilization with the Central Bank of Jordan, the Arab Fund, the World Bank, and other regional players.
IIAB’s digital banking services include a high-end mobile app that includes digital onboarding, seamless access to most of IIAB’s banking services, personal finance management, and third-party services via the bank’s ecosystem. IIAB is also an active AI adopter, embedding it at the core of its digital transformation to enhance customer experience, operational efficiency, and Shariah-complaint innovation.
Kuwait Finance House (KFH)
Kuwait’s second-largest bank, KFH now controls over 60% of domestic Islamic banking assets and is by far the kingdom’s largest Islamic institution. It holds a 30% share of conventional and Islamic banking assets. Domestically, KFH dominates the Islamic financing and deposit market—and, in turn, has a strong presence in the overall banking sector for both deposits and financing/loans—as well as a strong positions in retail, private, and corporate banking.
Maybank Islamic
Maybank Islamic, Malaysia’s flagship Islamic institution, is innovative, well managed, and over the long term, has recorded impressive performance. It is often first in introducing innovative Shariah-compliant financial products. In its home country, the bank controls around 30% of Islamic assets, but its activities extend across other Asian markets as well, making it the largest Islamic bank outside the Middle East and fifth-largest globally with $90 billion in assets. It also holds a prominent position in the global sukuk market. Maybank’s financial metrics are solid, with a strong capital base and good returns.
Umnia Bank
Umnia Bank was Morocco’s first Islamic bank, established in 2017. Shareholders include Qatar International Islamic Bank, CIH Bank (Credit Immobilier et Hotelier), and Caisse de Dépôt et de Gestion (CDG). Unmia operates the country’s largest Islamic banking network and is its largest by total assets, with around 50% market share in financings and 40% in deposits. Its main areas of financing are automobiles, real estate, and equipment finance.
Bank Nizwa
With $5.2 billion in assets at the end of last year, Bank Nizwa is Oman’s seventh-largest bank, with a focus on innovation that has helped broaden its reach in its home market. Oman’s first digital Islamic bank, it remains focused on digital expansion.
Reinforcing its commitment to leveraging strategic partnerships, Bank Nizwa launched the Tranna app last year in collaboration with Zappit, a financial technology company. The app is designed for expatriates living and working in Oman, enabling instant transfers to six countries: India, Sri Lanka, Pakistan, Nepal, the Philippines, and Bangladesh. Also last year, Bank Nizwa launched its Electronic Mandate (E-Mandate) for Direct Debit service that streamlines recurring transactions and enhances the overall banking experience for corporate and retail customers.
Meezan PAKISTAN
Meezan Pakistan had a strong 2025, launching several new products. Totall deposits increase by 28% to $17.2 billion, aided by a large branch and ATM network and solid digital infrastructure.
Meezan continued to strengthen its digital offerings via WhatsApp Banking, a simple, secure, and accessible transactions channel, and its highly rated mobile app, which is recognized for its simplicity, speed, and reliability. The app expanded its user base 40% to over 4.3 million while financial transactions increased 40% to 553 million.
The bank offers one of the industry’s most comprehensive portfolios of debit cards, supported by advanced payment technologies including NFC-enabled payments, chip and PIN security, mobile-based contactless transactions, and 3D secure e-commerce payments.
Qatar Islamic Bank
The emirate’s largest Islamic bank and its second-largest bank overall, QIB enjoys a strong franchise and market position, when ranked by total banking assets. QIB reported 2025 net profit of $1.3 billion as total assets reached $61 billion, as total assets rose to 10% to $61 billion, QIB is also active in the Islamic capital markets, including sukuk-related activities, structured financing, and transaction execution. QIB has significant government backing, with the Qatar Investment Authority its largest shareholder.
Al Rajhi Bank
Al Rajhi Bank is the world’s largest Islamic financial institution and Saudi Arabia’s flagship Islamic bank with $278 billion in total assets and $6.6 billion in net profit at the end of last year. It operates a strong retail banking network in its home market, particularly measured by deposits and income. It ranks first in banking transactions with 1 billion per month and first in remittances for the Middle East by payment value. Al Rajhi has 20.6 million customers in Saudi Arabia and the leading market share in deposits at 22.6%. Financial metrics are good, particularly capital ratios with total CAR at 21.9% at the end of 2025 and ROAA of 2.4%.
Commercial Bank of Ceylon
Al-Adalah, Commercial Bank of Ceylon’s Islamic banking window, offers a diverse portfolio of innovative Shariah-compliant products. Assets grew 67% last year as the financing portfolio doubled. The bank also made a strategic pivot in 2025 toward SME financing and sustainable energy projects.
Kuveyt Türk Katilim Bankasi (KTKB)
KTKB is KFH’s Turkish subsidiary. The largest Islamic bank in Turkey and one of the country’s top 10 banks, its business model has proved resilient amid a challenging operating environment. Commanding a 34% market share in Turkish Islamic banking, it also operates an Islamic bank in Germany under the name KT Bank AG as well as a Bahrain office that serves as a bridge between Turkey and the Gulf Cooperation Council states.
Emirates Islamic Bank (EIB)
EIB’s market position grew significantly in 2025 as assets increased 30% to $39.7 billion and deposits grew 33%, bolstered by a strong balance sheet and strong capital and liquidity position. The third-largest Islamic bank in the UAE, EIB has been improving its digital infrastructure and increasing its AI utilization. It has expanded its wealth management services and products, becoming the first Islamic bank in the UAE to launch a Shariah-compliant digital wealth offering and equity trading via mobile banking app.