Islamic financial institutions

From Islamic Finance WIKI

Contents

1 About Islamic Financial Institutions

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2 Islamic Financial Institutions (By Region and Country)

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2.1 Africa

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2.1.1 Kenya

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2.1.2 South Africa

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2.1.3 Sudan

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2.2 Asia (Northern)

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2.2.1 China

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2.3 Asia (South and Southeast)

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2.3.1 Bangladesh

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2.3.2 Brunei Darussalam

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2.3.3 India

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2.3.4 Indonesia

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2.3.5 Pakistan

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2.3.6 Malaysia

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2.3.7 Thailand

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2.4 Australia and Pacific Islands

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2.4.1 Australia

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2.5 Commonwealth of Independent States

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2.5.1 Azerbaijan

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2.5.2 Kazakhstan

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2.5.3 Russia

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2.6 Europe

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2.6.1 France

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2.6.2 Germany

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2.6.3 Turkey

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2.6.4 United Kingdom

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2.7 Middle East

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2.7.1 Bahrain

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2.7.2 Jordan

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2.7.3 Kuwait

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2.7.4 Lebanon

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2.7.5 Qatar

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2.7.6 Syria

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2.7.7 Saudi Arabia

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2.7.8 United Arab Emirates

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2.7.9 Yemen

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2.8 North America

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2.8.1 Canada

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2.8.2 United States

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3 References

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Page 1 of 10

Islamic financial institutions - Islamic Finance WIKI

2010-09-29

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About Islamic Financial Institutions

Islamic financial institutions is the blanket term for all financial institutions that operate in line with
the Shari'ah. Generally, in order to be considered an Islamic financial institution, there must be a
Shari'ah board composed of more than one scholar qualified to issue a fatwa on the Shari'ah-
compliance of a financial product. There are conflicting statistics about the size and total number of
Islamic financial institutions globally, but the International Financial Services London, a financial
industry trade group in the U.K. estimates that as of the end of 2007, there are 280 Islamic financial
institutions globally with total assets of US$729 billion (IFSL Research, 2009: 2).

Islamic Financial Institutions (By Region and Country)

Africa

Kenya

Barclay's Bank Kenya (website) (http://www.barclays.com/africa/kenya/index.php) (Islamic
window)

First Community Bank (website) (http://www.firstcommunitybank.co.ke/index.php?
option=com_frontpage&Itemid=1)

Gulf African Bank (website) (http://www.gulfafricanbank.com/Home)

South Africa

Absa Islamic Banking (website) (http://www.absa.co.za/absacoza/content.jsp?/Home/Personal/Our-
Customers/Islamic-Banking) (Islamic window)

Al-Baraka Bank (website) (http://www.albaraka.co.za/)

Sudan

Al Salam Bank - Sudan (website) (http://www.alsalambank.net/intro.htm)

Al-Shamal Islamic Bank

Baraka Bank (Sudan)

Emirates and Sudan Bank (website) (http://www.eandsbank.com/index.html)

Export Development Bank (previously El-Gharb Islamic Bank)

Faisal Islamic Bank (website) (http://www.fibsudan.com/en/)

Islamic Co-operative Development Bank

Sudanese Islamic Bank

Tadamon Islamic Bank

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Asia (Northern)

China

Bank of Ningxia

Asia (South and Southeast)

Bangladesh

Al-Arafah Islami Bank Limited (website) (http://www.al-arafahbank.com/)

Al-Baraka Bank Bangladesh Limited

Exim Bank (website) (http://www.eximbankbd.com/)

First Security Islami Bank Limited (website) (http://www.fsiblbd.com/)

ICB Islamic Bank Ltd (website) (http://www.icbglobal.com.my/group_structure.htm)

IslamiBank Bangladesh Limited (website) (http://www.islamibankbd.com/)

Shahjalal Islami Bank (website) (http://www.shahjalalbank.com.bd/)

Brunei Darussalam

Bank Islam Brunei Darussalam (website) (http://www.bibd.com.bn/)

Perbadanan Tabung Amanah Islam Brunei (TAIB) (website) (http://www.taib.com.bn/index.htm)

India

Parsoli Corporation (website) (http://www.parsoli.com/)

Parsoli promoters barred from trading (http://www.islamicfinance.de/?q=node/430)

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Taqwaa Advisory and Shariah Investment Solutions (website) (http://www.tasis.in/)

Indonesia

Bank Danamon (website) (http://www.danamon.co.id/overview.php?
ov=6&lng=2&idCon=244&ntlink=1) (Islamic window)

Bank Mega Syariah (website - Indonesian only) (http://www.bsmi.co.id/)

Bank Bukopin (website (http://www.bukopin.co.id/EN/unit_layanan_syariah_atm.htm) (Islamic
window)

Bank Syariah Mandiri (website - Indonesian only) (http://www.syariahmandiri.co.id/)

CIMB Niaga (website) (http://www.cimbniaga.com/)

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2010-09-29

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Bank Muamalat Syariah (website) (http://www.muamalatbank.com/)

Pakistan

Al Baraka Islamic Bank (Pakistan) (website) (http://www.albaraka.com.pk/)

BankIslami (website) (http://www.bankislami.com.pk/)

Dawood Islamic Bank Limited (website) (http://www.dawoodislamic.com/index.aspx)

Dubai Islamic Bank Pakistan Limited (website) (http://www.dibpak.com/)

Emirates Global Islamic Bank Limited (website) (http://www.egibl.com/egibl/index.html)

Meezan Bank (website) (http://meezanbank.com/index.aspx)

Malaysia

Affin Islamic Bank Bhd (website) (http://www.affinbank.com.my/)

Al Rajhi Banking & Investment Corporation (Malaysia) Bhd (website)
(http://www.alrajhibank.com.my/)

Asian Finance Bank Bhd (website) (http://www.asianfinancebank.com/)

Alliance Islamic Bank Bhd (website) (http://www.allianceislamicbank.com.my/)

AmIslamic Bank Bhd (website) (http://www.amislamicbank.com.my/)

Bank Islam Malaysia Bhd (website) (http://www.bankislam.com.my/)

Bank Kerjsama Rakyat Malaysia Bhd (website) (http://www.bankrakyat.com.my/)

Bank Muamalat Malaysia Bhd (website) (http://www.muamalat.com.my/v2/)

CIMB Islamic Bank Bhd (website) (http://www.cimbislamic.com/index.php?tpt=islamic)

EONCAP Islamic Bank Bhd (website) (http://www.eonbank.com.my/islamic.shtml) (Islamic
window)

Hong Leong Islamic Banking Bhd (website) (http://www.hlisb.com.my/)

HSBC Amanah Malaysia Bhd (website) (http://www.hsbcamanah.com.my/1/2/amanah/) (Islamic
window)

Koperasi Bank Persatuan Malaysia Bhd (website) (http://www.bankpstn.com.my/old/index.html)

Kuwait Finance House (Malaysia) Bhd (website) (http://www.kfhonline.com.my/)

Maybank Islamic Bhd (website) (http://www.maybank2u.com.my/maybankislamic/index.shtml)

OCBC Al-Amin Bank Bhd (website) (http://www.ocbc.com.my/personal-
banking/Islamic/MYPer_Isl_Overview.shtm)

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Islamic financial institutions - Islamic Finance WIKI

2010-09-29

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Public Islamic Bank Bhd (website)
(https://www.pbebank.com/en/en_content/business/islamic/landing.html)

RHB Islamic Bank Bhd (website) (http://www.rhb.com.my/islamic_banking/main/main.html)
(Islamic window)

Standard Chartered Saadiq Bhd (website) (http://www.standardchartered.com.my/islamic-
banking/en/) (Islamic window)

Thailand

Islamic Bank of Thailand (website) (http://www.ibank.co.th/)

Australia and Pacific Islands

Australia

Islamic Co-operative Finance Australia Limited (website) (http://www.icfal.com.au/)

Muslim Community Co-Operative Australia (Ltd) (website) (http://www.mcca.com.au/)

Westpac (website) (http://www.westpac.com.au/) (Islamic window)

Commonwealth of Independent States

Azerbaijan

Kauthar Bank (website) (http://www.kautharbank.com/en/)

Kazakhstan

Al Hilal Islamic Bank Kazakhstan (will launch 25 March 2010) source
(http://www.cpifinancial.net/v2/News.aspx?v=1&aid=4579&sec=Islamic%20Finance)

Russia

Al-Shams Capital (website) (http://alshamscapital.com/)

Badr-Forte Bank (website) (http://www.badrforte.ru/engl/) (closed
(http://arabnews.com/economy/islamicfinance/article27196.ece) in 2006)

Europe

France

Germany

Kuveyt Turk Beteiligungsbank Deutschland (website)
(http://www.kuveytturk.com.tr/en/ErisimNoktalarimiz_Temsilcilikler.aspx)

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2010-09-29

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iFIS Islamic Banking. (website) (http://www.ifis-fdl.de)

Turkey

Al Baraka Turk (website) (http://www.albarakaturk.com.tr/)

Bank Asya (website) (http://www.bankasya.com.tr/en/index.jsp)

Kuveyt Turk (website) (http://www.kuveytturk.com.tr/en/)

Turkiye Finans (website) (http://www.turkiyefinans.com.tr/en/index.aspx)

United Kingdom

ABC International Bank plc (website) (http://www.alburaq.co.uk/)

Ahli United Bank (UK) plc (website) (http://www.iibu.com/)

European Finance House (website) (http://www.europeanfh.com/index.asp)

European Islamic Investment Bank plc (website) (http://www.eiib.co.uk/html/)

Gatehouse Bank plc (website) (http://www.gatehousebank.com/)

Islamic Bank of Britain plc (website) (http://www.islamic-bank.com/)

Middle East

Bahrain

According to the Central Bank of Bahrain, there are 6 retail Islamic banks and 18 wholesale Islamic
banks in the country (source (http://www.cbb.gov.bh/cmsrule/index.jsp?action=article&ID=18) ).

Retail Banks

Al-Baraka Bank (website) (http://www.barakaonline.com/)

Al Salam Bank Bahrain (website) (http://www.alsalam-bahrain.com/)

BBK Bahrain (website) (http://www.bbkonline.com/)

Bahrain Islamic Bank (website) (http://www.bisbonline.com/)

Shamil Bank of Bahrain (website) (http://www.shamilbank.net/)

Wholesale Banks

BMB Investment Bank (website) (http://bmb.com.bh/about/)

Capinnova Investment Bank (website) (http://www.capinnovabank.com/)

Ithmaar Bank (website) (http://www.ithmaarbank.com/Pages/Default.aspx)

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Islamic financial institutions - Islamic Finance WIKI

2010-09-29

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Jordan

Islamic International Arab Bank (website) (http://www.iiabank.com.jo/)

Jordan Dubai Islamic Bank (website) (http://www.iiabank.com.jo/)

Jordan Islamic Bank (website) (http://www.jordanislamicbank.com/)

Kuwait

Kuwait Finance House (website) (http://www.kfh.com/en/)

Lebanon

Al-Baraka Bank Lebanon (website) (http://www.al-baraka.com/)

Arab Finance House SAL (website) (http://www.afh.com.lb/)

Lebanese Islamic Bank (website) (http://www.lebaneseislamicbank.com.lb/pages.asp?id=20)

Qatar

Beema Takaful (announcement) (http://www.gulf-times.com/site/topics/article.asp?
cu_no=2&item_no=349085&version=1&template_id=57&parent_id=56)

Qatar International Islamic Bank (website) (http://www.qiib.com.qa/)

Qatar Islamic Bank (website) (http://www.qib.com.qa/english/site/topics/index077b.html)

Syria

Qatar-Syria Islamic Bank

Syria Finance House (announced)
(http://zawya.com/Story.cfm/sidZAWYA20100307072105/GFH%20establishing%20Syria%
20Finance%20House)

Syria International Islamic Bank (website) (http://www.siib.sy/index.php?lang=en)

Saudi Arabia

Al Inma Bank (website) (http://www.alinma.com/wps/portal/alinma)

Al Rajhi Bank (website) (http://www.alrajhibank.com.sa/pages/default.aspx)

Bank Al Bilad (website) (http://www.bankalbilad.com.sa)

Bank AlJazira (website) (http://www.baj.com.sa)

Islamic Development Bank (website) (http://www.isdb.org/index.html)

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various capital market companies capital market regulator, see list of authorised firms
(http://www.cma.org.sa)

United Arab Emirates

Emirates Islamic Bank (website) (http://www.emiratesislamicbank.ae/nr/eib/default.htm)

Abu Dhabi

Abu Dhabi Islamic Bank (website) (http://www.adib.ae/)

Al Hilal Bank (website) (http://www.alhilalbank.ae/r27.55/index.html)

Ajman

Ajman Bank (website) (http://www.ajmanbank.ae/en)

Dubai

Dubai Islamic Bank (website) (http://www.alislami.ae/en/index.htm)

Noor Islamic Bank (website) (http://www.noorbank.com/ae/english/index.aspx)

Dubai Bank (website) (http://www.dubaibank.ae/)

Fujairah

Ras al-Khaimah

Sharjah

Sharjah Islamic Bank (website) (http://www.sib.ae/)

Umm al-Quwain

National Bank of Umm al-Quwain (Islamic window) (website) (http://www.nbq.ae/islamic.php)

Yemen

Islamic Bank of Yemen (website) (http://www.iby-bank.com/eng/)

Tadhamon International Islamic Bank (website) (http://www.tiib.com/)

North America

Canada

Home Finance

Al-Ansar Housing Cooperative Housing Corporation Ltd. (website) (http://www.ansarhousing.com/)

An-Nur (Ontario) Housing Cooperative Corp. Ltd. (website) (http://www.nurcoop.com/)

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2010-09-29

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Qurtuba Housing Cooperative & Al-Ittihad Investment Inc (website) (http://qurtuba.ca/)

UM Financial (website) (http://www.umgroup.ca/)

Mutual Funds

frontierAlt Capital Corporation (website) (http://www.frontieralt.com/frontieralt-oasis-funds.html)

Global Prosperata Funds (website) (http://prosperata.com/)

United States

Islamic banks and windows

Bank of Whittier, N.A. (website) (https://www.bankofwhittier.com/default.htm) (Whittier,
California)

Crescent Bancshares (website) (http://www.crescentbancshares.com/) (Chicago, Illinois)

Devon Bank (website) (http://www.devonbank.com/islamic/index.html) (Chicago, Illinois)

University Islamic Financial Corp (website) (http://www.universityislamicfinancial.com/) (Ann
Arbor, Michigan)

Non-bank financial institutions

Ameen Housing Cooperative of California (website) (http://www.ameenhousing.com/) (Santa Clara,
California)

American Finance House-LARIBA (website) (https://www.lariba.com/default.htm) (Pasadena,
California)

Devon Islamic Ventures Offshore (website) (http://devonislamicventures.info/)

Guidance Residential (website) (http://www.guidanceresidential.com/) (Reston, Virginia)

Zayan Finance (website) (http://zayanfinance.com/) (New York, New York)

Mutual Funds and Exchange-traded Funds

Allied Asset Advisors -- Iman Fund (website) (http://www.investaaa.com/)

Azzad Asset Management (website) (http://azzad.net/new/products_mutual.aspx)

Florentez Investment Management -- ShariahShares

Javelin Investment Management (website) (http://www.javelinfunds.com/)

Saturna Capital Corp -- Amana Funds (website) (http://www.amanafunds.com/) (Bellingham,
Washington)

Private Equity and Alternative Investments

Arcapita (website) (http://www.arcapita.com/) (Atlanta, Georgia)

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Shariah Capital (website) (http://www.shariahcap.com/) (New Canaan, Connecticut)

UIB Capital (website) (http://www.uibcapital.com/) (Chicago, Illinois)

Takaful

Zayan Takaful (website) (http://www.zayantakaful.com/) (New York, New York)

Shariah Advisors

Straight Way Ethical Advisory (Massachusetts) (website) (http://www.straightwayethical.com/)

References

IFSL Research. 2009. Islamic Finance 2009 (PDF)
(http://www.ifsl.org.uk/upload/Islamic_finance_2009.pdf) . London: International Financial
Services London, p. 2

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Company News Search site (http://www.islamicfinance.de/?q=news) by IslamicFinance.de

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This page was last modified on 28 March 2010, at 07:58.

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2010-09-29

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