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The 10 largest sharia banks in the world

May 28, 2012

The Lebanese-based Union of Arab Banks published a report last year naming the world’s ten biggest Islamic financial institutions:

Bank Country Assets
Al-Rajhi Saudi Arabia $49.2 billion
Kuwait Finance House Kuwait $43.7 billion
Dubai Islamic Bank U.A.E. $24.5 billion
Abu Dhabi Islamic Bank U.A.E. $20.5 billion
Al-Baraka Group Bahrain $15.8 billion
Qatar Islamic Bank Qatar $14.2 billion
Al-Rayyan Qatar $9.5 billion
Emirates Islamic Bank U.A.E. $8.9 billion
Al-Jazirah Saudi Arabia $8.8 billion
Al-Ahli United Bank Kuwait $8.5 billion

A few comments on the top three sharia banks:  1)  Al Rajhi Bank has been sued for financing the 9/11 terrorist attacks, and was highlighted for its facilitation of terrorist financial transactions in the book Funding Evil by Dr. Rachel Ehrenfeld; 2) The Kuwait Finance House was a shareholder of Tadamon Bank, a financial institution that helped transfer funds for Osama bin Laden; and 3) BusinessWeek reported that “In 1999, U.S. intelligence agents reported that Dubai Islamic Bank in the United Arab Emirates was a conduit for bin Laden funds.”

Quite the group.

2 comments

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