Islamic banks have been particularly industrious in their efforts to integrate an environmental, social and governance focus into their core strategy and operations.

Mashreq Al Islami continues to demonstrate its digital leadership in Islamic banking through the breadth and quality of the services and products it provides. It is Euromoney’s best Islamic digital bank this year.

New York-headquartered Wafra is Euromoney’s best Islamic fund manager this year in recognition of its investment expertise, range of dedicated shariah-compliant strategies and fund performance.

InterVest Capital Partners has been named Euromoney’s best Islamic leasing house this year in recognition of its investment and leasing experience, sector diversity in specialty finance and strong financial performance.

CIMB Investment Bank is Euromoney’s best Islamic project finance house this year following its work on a range of transactions throughout the year, and for one in particular that stood out for its innovation and national importance.

It takes structuring expertise, sophistication and a good read of markets to engineer shariah-compliant structured products that perform, especially amid an uncertain and volatile global macroeconomic and markets backdrop.

Despite global sukuk issuance falling to its lowest dollar-denominated value in three years, there were still plenty of debuts, innovations and ground-breaking developments last year, and Standard Chartered Saadiq was front and centre of that, making it Euromoney’s best sukuk house for 2024.

Innovation is occurring at a rapid pace in Islamic finance, spurring growth and development in this global market. Investment management firms need to continually evolve their product and service offering to stay ahead of the competition and attract new capital.