The country’s economy was already weak before a serious drought hit. Now it is broke, and the question in Buenos Aires isn’t whether finance minister Sergio Massa can muddle through to the presidential election at the end of October, it is whether he can make it to the primaries in August before a full-blown financial crisis.

Indonesia is one of the world’s brighter prospects right now: growth, demographics, infrastructure momentum, inflation under control, more equity raised in the first quarter in Jakarta than New York. Banks are positioning to benefit – while keeping an eye on next year’s elections.

Could trading of US sovereign credit default swaps trigger a global systemic meltdown? Probably not, but default swap shenanigans aren’t helping to calm jittery markets.

The bank has started the process of choosing a successor to CEO James Gorman just as it tries to settle an investigation into its equity block trading practices. This could pose a challenge for Ted Pick.

If the UK is to become an international crypto hub, it must focus on bringing regulatory certainty to the industry and the banks that back it.

If Olam Agri’s planned dual-listing IPO goes ahead in June it will have a bit of everything: a Singapore-Saudi listing, geopolitics and sovereign funds jostling to defend their nations against strain in global food security.

You might expect that a bank that managed to double its profit over the last year would be an easy call for the best in Bahrain. But aside from the financials, Bahrain Islamic Bank, led by chief executive Yaser Alsharifi, is a clear standout in many categories.

Qatar’s biggest Islamic bank remains hard to beat. Last year, it offered shareholders a 17.8% return on equity, a 2.1% return on assets and one of the industry’s lowest cost-to-income ratios at 17.4%.

Since its inception in 2004, Boubyan Bank has carved out a specific niche in a Kuwaiti market dominated by bigger and more established players. As chief executive Abdullah Al-Tuwaijri puts it, three words serve as the guiding star for the bank’s strategy: “modern, attractive and digital.”

By virtually any measure, Maybank is Malaysia’s best Islamic bank. It is ahead of its rivals in market share for total assets, financing, deposits and unrestricted investment accounts.

The global turmoil of 2022 posed a severe test for Banque Misr and its more than 10 million customers. The one-two punch of Russia’s invasion of Ukraine and the foreign-currency crunch caused by surging inflation sent Egypt to the IMF.

Over the last 45 years, Jordan Islamic Bank (JIB) has steadily grown its banking, financing and investment businesses in accordance with Islamic guidelines. The corporate governance code it built became the standard in Jordan and one that the central bank has taken to using as a benchmark for peers.

Few banks take the phrase 'digital transformation' more seriously than Dukhan Bank.

Founded in 2009, Sidra Capital is a pioneer of private Islamic finance in Saudi Arabia, with offices in Riyadh, Dubai, Singapore and London. Licensed and regulated by the Saudi Arabian Capital Market Authority, Sidra’s Shariah-compliant asset business focuses on alternative asset classes, real estate and private finance and private equity.

Al Rajhi Bank had a busy 2022, arranging 12 high-profile transactions in the Saudi riyal and US dollar debt capital markets.

Kuwait Finance House’s 45th year in business was a banner one. In October 2022, the team led by acting chief executive Abdulwahab Iesa Alrushood completed the acquisition of Bahrain’s Ahli United Bank to create the world’s second-largest Islamic bank.

Bank Syariah Indonesia’s (BSI) focus on tech disruption is not typical for a state-owned lender. But southeast Asia’s biggest and most populous economy is proving fertile territory for startup finance.

Dubai Islamic Bank reported a 12% year-on-year rise in net profit in the first quarter of 2023, while total income grew by 47% over the same period – the result of strong income from financing assets and robust cost management.

Despite surging global interest rates, inflation, gyrating currencies and geopolitical tensions, Ahli Islamic Bank has stayed the course. It has grown its business and worked to expand the industry, pursuing financial inclusion when it is needed most.

RakBank isn’t the biggest or best known bank in the United Arab Emirates. But it is playing an outsized role in providing innovative Islamic banking solutions and growing the market.

Al Rajhi Bank’s SAR10 billion ($2.7 billion) retail public offer tier-1 sukuk.

Zamarad Assets Berhad's RM255 million ($57 million) tranche 7 sukuk murabahah ABS.

Jabal Omar Development Company’s SAR5.3 billion ($1.4 billion) debt conversion.

Republic of Turkey’s $3 billion five-year sukuk.

Elsewedy Electric’s EGP3 billion ($97 million) Sharia-compliant multi-purpose syndicated facility.

Abdulwahed Ahmad Rashed Bin Shabib’s AED455 million ($124 million) financing.

Amanat Lebuhraya Rakyat Berhad's RM5.5 billion ($1.22 billion) sustainability sukuk murabahah programme.

Mashreq Al Islami is proving year after year that an Islamic bank with industry-leading digital capabilities doesn’t need vast scale to disrupt the regional market.

Over the last 24 years, InterVest Capital Partners has established more than 120 leasing and financing programmes, with committed capital topping $15 billion.

One transaction alone cemented Al Rajhi Bank’s claim to be the best sukuk house this year. On March 29, 2023, the world’s biggest Islamic bank by assets and market capitalization closed its first US dollar sustainable sukuk.