Fastest Growing Islamic Banks by Net Income
Fastest Growing Islamic Banks by Assets
| Top 10 Islamic banks | |||
| Figures in $ at December 31 2007 | |||
| Rank | Country of incorporation | Bank | Total assets 2007 |
| 1 | Saudi Arabia | Al Rajhi Bank | 33,372,165,720 |
| 2 | Kuwait | Kuwait Finance House | 32,103,331,547 |
| 3 | UAE | Dubai Islamic Bank | 22,803,738,851 |
| 4 | Qatar | Qatar Islamic Bank (Al Masraf) | 5,877,150,653 |
| 5 | Malaysia | Bank Islam Malaysia Berhad | 5,772,492,125 |
| 6 | Saudi Arabia | Aljazira Bank | 5,762,328,873 |
| 7 | UAE | Emirates Islamic Bank | 4,616,888,499 |
| 8 | Saudi Arabia | Albilad Bank | 4,445,428,630 |
| 9 | Malaysia | Bank Muamalat Malaysia Bhd | 4,170,517,368 |
| 10 | Bahrain | Ithmaar Bank | 4,078,789,000 |
| Source: IFIS | |||
THERE ARE 300 Islamic banks operating in the world today. But this statistic, ubiquitous in presentations about the growth of Islamic banking, is not an entirely positive number: it’s far too high.
Islamic banking is enormously fragmented.
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