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.
Regional Winners
Asia-Pacific
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.
Middle East
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.
Country and Territory Winners
Bahrain
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.
Brunei Darussalam
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.
Egypt
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.
Indonesia
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.
Jordan
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
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.
Malaysia
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.
Morocco
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.
Oman
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.
Pakistan
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
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.
Saudi Arabia
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%.
Sri Lanka
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.
Turkey
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.
United Arab Emirates
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.