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• Alrajhi Bank 2025 Company JordanKuwaitMalaysia

  A Saudi bank based in Riyadh that operates according to Sharia, founded in 1957 and known as Al Rajhi Banking and Investment Corporation until 2006; 2015 data made it the world's largest Islamic bank by capital, and it was first on Forbes Middle East's 30 Most Valuable Banks 2025.

• Dubai Islamic Bank 2025 Company United Arab EmiratesBosnia & HerzegovinaIndonesia

  An Emirati bank based in Dubai, founded by Saeed bin Ahmed Lootah in 1975, which follows Sharia principles across all its activities; it is the UAE's largest Islamic bank by assets and is listed on the Dubai Financial Market, acquired Noor Bank in 2020, and has operations in Bosnia, Pakistan, Kenya, Indonesia and Sudan.

• Halal Product Assurance Organizing Agency (BPJPH, Halal Indonesia) 2024 Certifier Indonesia

  An Indonesian cabinet-level government agency that organises halal certification, spun off from the Ministry of Religious Affairs in 2024 to succeed the ministry's halal product assurance body; Haikal Hassan has led it since 22 October 2024.

• Bank Syariah Indonesia 2021 Company Indonesia

  A state-owned Indonesian Islamic bank based in Jakarta, which began on 1 February 2021 by merging the sharia banks of three state banks (Bank Syariah Mandiri, BNI Syariah and BRI Syariah); in June 2024 it was the world's largest Islamic bank by customer numbers, and it became a state-owned Persero in January 2026.

• Lotus Bank 2021 Company Nigeria

  A non-interest and ethical bank in Nigeria, the country's third non-interest bank and the first to start from the south, headquartered in Lagos; it was licensed for non-interest banking on 17 June 2021 and opened on 7 July 2021.

• TAJBank 2019 Company Nigeria

  Nigeria's second non-interest bank, operating under Islamic banking principles and headquartered in Abuja; it received a regional licence from the Central Bank of Nigeria on 3 July 2019 and opened on 2 December 2019.

• Wahed 2017 Start-up United Arab EmiratesUnited KingdomIndonesia

  An American fintech company in New York offering automated investment aligned with Islamic principles; it launched an automated Islamic investment platform in 2017 and, in July 2019, the first Sharia-compliant exchange-traded fund in the United States; it operates in 130 countries.

• Ziraat Katılım 2015 Company Türkiye

  A Turkish public participation bank founded on 12 May 2015 and owned by the Turkey Wealth Fund, part of the Ziraat Finance Group, holding Islamic banking licences for profit-and-loss sharing, consumer finance and credit cards.

• Alizz Islamic Bank 2013 Company Oman

  A full-fledged Islamic bank in Oman, launched on 30 September 2013 after Royal Decree No. 69/2012 brought Islamic banking into the banking law; its paid-up capital is 100 million Omani rials.

• Global Islami Bank 2013 Company Bangladesh

  A Bangladeshi sharia-compliant private bank in Dhaka, founded on 25 July 2013 as NRB Global Bank for non-resident Bangladeshis, which became a full Islamic bank under its present name on 3 January 2021.

• LaunchGood 2013 Start-up

  A crowdfunding platform based in Detroit focused on the Muslim community worldwide, live since October 2013 and described by the press as Muslim-run; it has raised more than US$688 million from 2.1 million donors in 155 countries.

• Union Bank (Bangladesh) 2013 Company Bangladesh

  A fourth-generation private Islamic bank in Bangladesh, established on 7 March 2013 as a sharia-compliant bank and listed on the Dhaka Stock Exchange; central-bank inspections in 2022 and 2024 found a sharp rise in bad loans, and it came under central-bank supervision.

• Amana Bank 2011 Company

  Amana Bank.

• Amana Bank (Tanzania) 2011 Company Tanzania

  A commercial bank in Dar es Salaam licensed by the Bank of Tanzania, established in 2011 as the first fully Sharia-compliant bank in Tanzania, after talks among Tanzanian business figures from 2009.

• Standards and Metrology Institute for Islamic Countries (SMIIC) 2010 Standards body Türkiye

  An intergovernmental body based in Istanbul, affiliated to the Organisation of Islamic Cooperation, working on standardisation, metrology and the removal of technical barriers to trade among 37 member states and two observers; its statute entered into force in May 2010.

• Saffron Road 2010 Food product United States

  An American halal food brand of American Halal Company, founded by Adnan Durrani in Stamford, Connecticut, in 2009; its halal-certified products launched through Whole Foods in July 2010.

• Banque Zitouna 2009 Company Tunisia

  The first Islamic bank in Tunisia and the Maghreb, with capital of US$30 million, set up to develop Islamic financing and savings products for businesses and individuals, headquartered in Tunis.

• HalalBooking 2009 Travel

  HalalBooking.

• Salaam Somali Bank 2009 Company Somalia

  A fully fledged Islamic bank in Mogadishu, established in October 2009 as the first bank to operate in Somalia since 1991, which brought mobile banking and the first cash machines to the country; it received The Banker's international Islamic Bank of the Year award in 2024.

• International Islamic Trade Finance Corporation (ITFC) 2008 Bank Saudi Arabia

  A member of the Islamic Development Bank Group based in Jeddah, founded in 1429 AH / 2008 to develop trade among the member states of the Organisation of Islamic Cooperation; it provides Shariah-compliant trade finance to public and private entities.

• CrescentRating 2008 Travel

  A Singapore-based research organisation on halal travel that publishes rankings, founded by Fazal Bahardeen in 2008; since 2015 it has published the Global Muslim Travel Index with Mastercard, and it launched the HalalTrip website in 2013.

• Dukhan Bank 2008 Company Qatar

  A Sharia-compliant Qatari bank in Doha, formerly Barwa Bank, founded in 2008 and renamed Dukhan Bank in 2020 after its merger with International Bank of Qatar; it is the third-largest Islamic bank in Qatar and was listed in 2023.

• Gulf African Bank 2008 Company Kenya

  A Kenyan commercial bank in Nairobi operating under an Islamic banking regime, which opened in 2008 as the second commercial bank in Kenya authorised for Sharia banking, with shareholders from the Gulf and Kenya and the International Finance Corporation.

• Noor Bank 2008 Company United Arab Emirates

  A Shari'a-compliant bank in Dubai, opened on 7 January 2008 as Noor Islamic Bank and renamed Noor Bank in 2014, which Dubai Islamic Bank acquired in December 2019.

• Premier Bank Kenya 2008 Company Kenya

  A Shari'ah-compliant commercial bank in Nairobi, founded in 2007 as First Community Bank by private Muslim investors in Kuwait, Kenya and Tanzania, which opened on 1 June 2008 as the first fully fledged Shari'ah bank in Kenya.

• Al Hilal Bank 2007 Company United Arab Emirates

  An Islamic bank in Abu Dhabi, established in 2007, offering Shari'ah-compliant retail banking and wealth management; ADCB Group acquired it in 2019.

• Gatehouse Bank 2007 Company United Kingdom

  A UK-regulated Islamic bank in London, founded in 2007, which operates according to Shariah principles and offers savings and home purchase plans as an alternative to conventional mortgages in England and Wales.

• Halal Development Corporation (HDC) 2006 Standards body Malaysia

  A Malaysian federal government agency founded on 18 September 2006 as custodian of Malaysia's halal economy, coordinating standards, certification and industry development; it drew up the Halal Industry Master Plan 2030 and is secretariat of the Halal Industry Development Council.

• Alinma Bank 2006 Company Saudi Arabia

  A Saudi joint-stock bank based in Riyadh, formed under Royal Decree No. M/15 of 28 March 2006 with share capital of SAR 20 billion, offering Shariah-compliant banking and investment services; it was 10th on Forbes Middle East's 30 Most Valuable Banks 2025.

• Bank Makramah 2006 Company Pakistan

  A Pakistani Islamic bank in Karachi, which grew in 2006 out of Rupali Bank's Pakistan operations, traded as Arif Habib Bank and then Summit Bank, and was converted into an Islamic bank as Bank Makramah in November 2023.

• BankIslami Pakistan 2006 Company Pakistan

  A Pakistani Islamic bank in Karachi operating as a Shariah-compliant institution, which began operating on 7 April 2006 under a State Bank of Pakistan licence and has more than 550 branches; it became part of JS Group in 2023.

• Bank of London and The Middle East (BLME) 2006 Company United Kingdom

  A British Sharia-compliant bank based in London, incorporated on 7 August 2006 and authorised in July 2007, which was the largest Islamic bank in Europe in 2013; a Sharia Supervisory Board reviews its contracts, and Kuwait's Boubyan Bank is its majority shareholder.

• Masraf Al Rayan 2006 Company

  Masraf Al Rayan.

• Bank Islam Brunei Darussalam (BIBD) 2005 Company Brunei

  The largest bank in Brunei and its main Islamic financial institution, formed in 2005 by merging the Islamic Bank of Brunei and the Islamic Development Bank of Brunei, headquartered in Bandar Seri Begawan; the state, through the Brunei Investment Agency, holds most of it.

• Al Rayan Bank UK 2004 Company United Kingdom

  A British commercial bank in London, established in August 2004 as the Islamic Bank of Britain to offer Sharia-compliant products to customers of any faith; it became part of Qatar's Masraf Al Rayan group in 2014.

• Bank Albilad 2004 Company Saudi Arabia

  A Saudi Islamic joint-stock bank based in Riyadh, established in 2004, offering Sharia-compliant products under a Sharia Committee; its remittance arm is Enjaz, and it was 16th on Forbes Middle East's 30 Most Valuable Banks 2025.

• Boubyan Bank 2004 Company United KingdomKuwait

  A listed Kuwaiti Islamic bank, established by Amiri Decree No. 88 of 21 September 2004 after the Islamic Banks Law of 2003, the first Islamic bank created under it; the National Bank of Kuwait has been its largest shareholder since 2009, and it acquired the Bank of London and the Middle East in 2020.

• Emirates Islamic 2004 Company United Arab Emirates

  An Emirati bank in Dubai, established in 2004 to provide banking in line with Shari'a principles, one of the emirate's four Islamic banks; it was delisted from the Dubai Financial Market in 2025 after Emirates NBD acquired its remaining shares, and Euromoney named it the world's best Islamic digital bank for 2025.

• Rick's Café Casablanca 2004 Restaurant

  A Casablanca café built in the image of the film Casablanca (2004); film nostalgia made real for visitors.

• Jaiz Bank 2003 Company Nigeria

  A Nigerian bank headquartered in Abuja that operates on Islamic, non-interest banking principles, the first non-interest bank in Nigeria; founded in 2003 as Jaiz International, it was licensed as a regional bank on 11 November 2011, opened on 6 January 2012 and received a national licence in 2016.

• Islamic Financial Services Board (IFSB) 2002 Standards body Malaysia

  An international standard-setting body based in Kuala Lumpur, founded in 2002 by a group of central banks and the Islamic Development Bank, operating from 10 March 2003; it issues prudential and supervisory standards consistent with Shari'ah principles for banking, capital markets and insurance.

• Al Baraka Group 2002 Conglomerate BahrainAlgeriaEgypt

  An international Islamic financial group based in Manama, licensed by the Central Bank of Bahrain as an investment firm under Islamic principles, with banking subsidiaries in 13 countries; registered in 2002, it floated in 2006 and was delisted from the Bahrain Bourse in 2024.

• Islamic Bank of Thailand 2002 Company Thailand

  A Thai state enterprise in Bangkok, established in 2002 under the Islamic Bank of Thailand Act, which operates by Sharia principles and serves customers of every religion; the state controls more than 98% of it.

• Shahjalal Islami Bank 2001 Company Bangladesh

  A shariah-compliant private commercial bank in Dhaka, incorporated on 10 May 2001; between 2012 and 2016 Bangladesh's Anti-Corruption Commission brought cases against former officers, directors and borrowers for embezzling from it.

• Bank Muamalat Malaysia 1999 Company Malaysia

  A Malaysian Islamic bank in Kuala Lumpur, which began operating on 1 October 1999 with the assets and liabilities of the Islamic banking windows of three institutions: Bank Bumiputra Malaysia, Bank of Commerce (M) and BBMB Kewangan.

• Dow Jones Islamic Market Index (DJIM) 1999 Product

  A stock-market index launched in 1999 for investors seeking Sharia-compliant investments, operated by S&P Dow Jones Indices; an independent Shariah Supervisory Board screens its companies.

• First Security Islami Bank 1999 Company Bangladesh

  A Bangladeshi bank in Dhaka, incorporated on 29 August 1999 and operating from 25 October 1999, which has provided sharia-compliant banking since 2009; the chairman of S. Alam Group chaired it, and it faced a liquidity crisis in 2022.

• Standard Islami Bank 1999 Company Bangladesh

  A private commercial bank in Dhaka, founded on 3 June 1999 as the conventional Standard Bank, which switched to Shariah-compliant banking in December 2020 and was renamed Standard Islami Bank in February 2026.

• Department of Islamic Development Malaysia (JAKIM) 1997 Certifier Malaysia

  A Malaysian federal government agency administering Islamic affairs, established on 1 January 1997; it has a Halal Management division, introduced the standardised halal certification logo on 1 October 2003, and serves as secretary of the Malaysian Halal Council, which recognises foreign halal certification bodies.

• Abu Dhabi Islamic Bank 1997 Company United Arab EmiratesEgyptIraq

  An Emirati bank in Abu Dhabi, established as a public joint-stock company by Amiri Decree No. 9 on 20 May 1997, which began commercial operations on 11 November 1998 and carries out all its contracts according to Shari'a principles; it has operations in Egypt, Qatar, Iraq, Sudan and Saudi Arabia, and was 12th on Forbes Middle East's 30 Most Valuable Banks 2025.

• Meezan Bank 1997 Company Pakistan

  A Pakistani Islamic bank based in Karachi, founded in 1997 as an Islamic investment bank, Al-Meezan Investment Bank, which became a commercial bank after buying Société Générale's Pakistan operations in 2002; it is Pakistan's largest Islamic bank and its second-largest bank by market capitalisation.

• Bank Asya 1996 Company Türkiye

  A former Turkish participation bank in Istanbul that operated from 1996 to 2016 and is widely considered tied to the Gülen movement; the banking regulator cancelled its licence on 22 July 2016, and it was declared bankrupt on 16 November 2017.

• Al-Arafah Islami Bank 1995 Company Bangladesh

  A Shariah-based Islamic bank in Dhaka, Bangladesh, founded on 27 September 1995, whose shariah council checks its compliance; Bangladesh Bank dissolved its board in 2024.

• Social Islami Bank 1995 Company Bangladesh

  A Shari'ah-based Islamic bank in Dhaka, Bangladesh, operating from 22 November 1995 as Social Investment Bank and renamed in 2009; its board changed in 2017 after S. Alam Group bought half its shares, and it faced a crisis in 2022.

• Al Baraka Bank Pakistan 1991 Company Pakistan

  A Pakistani Islamic bank in Karachi, a subsidiary of Bahrain's Al Baraka group; it began in Pakistan in 1991 as a branch of Al Baraka Islamic Bank Bahrain, was incorporated in 2004, and in 2010 merged with Emirates Global Islamic Bank in the first merger in Pakistan's Islamic banking.

• Bank Muamalat Indonesia 1991 Company Indonesia

  An Indonesian commercial bank in Jakarta operating on Islamic banking principles, founded on 1 November 1991 on the initiative of the Indonesian Council of Ulama under the auspices of the government, and operating from 1 May 1992; Indonesia's Hajj Fund Management Agency holds most of its shares.

• Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) 1990 Standards body Bahrain

  An international not-for-profit body based in Bahrain, established by an agreement signed in Algiers on 26 February 1990, which sets accounting, auditing and Shariah standards for Islamic financial institutions; it has members from more than 45 countries, and regulators in several states apply its standards.

• The Halal Guys 1990 Restaurant

  A Manhattan halal food cart from 1990 that became a global franchise; the famous American halal-food sign.

• Al Tazaj 1989 Restaurant

  Al Tazaj.

• Kuveyt Türk Participation Bank 1989 Company GermanyTürkiye

  A Turkish participation bank based in Istanbul, founded in 1989 as a special finance house under Turkish Council of Ministers Decision No. 831/7506 of 1983, subject to the Banking Law from 1999 and named Kuveyt Türk Katılım Bankası in May 2006; Kuwait Finance House is its largest shareholder.

• Faysal Bank 1987 Company Pakistan

  A Pakistani Islamic bank in Karachi, which began in Pakistan in October 1987 as a branch of Bahrain's Faysal Islamic Bank, owned by Prince Mohammed bin Faisal; it became a conventional bank and converted fully to Islamic banking in December 2022; Bahrain's Ithmaar Bank holds most of it.

• ICB Islamic Bank 1987 Company Bangladesh

  A second-generation commercial Islamic bank in Dhaka, Bangladesh, which began operating on 20 May 1987 as Al-Baraka Bank, became Oriental Bank in 2004, and was bought and renamed by the ICB Banking Group in 2008; its accumulated losses reached nearly 20 billion taka in 2022.

• Albaraka Türk 1984 Company Türkiye

  A Turkish participation bank in Istanbul, founded in 1984 and active from 1985 as a special finance house, known as the first participation bank in Turkey; Al Baraka Group is its largest shareholder.

• BinDawood Holding 1984 Company

  BinDawood Holding.

• Takaful Malaysia 1984 Company IndonesiaMalaysia

  Malaysia's first takaful (Islamic insurance) operator, established on 29 November 1984, the year of the Takaful Act, and listed on Bursa Malaysia in 1996; Lembaga Tabung Haji, the pilgrims' fund, is its largest shareholder.

• Bank Islam Malaysia 1983 Company Malaysia

  A Malaysian bank based in Kuala Lumpur that began operating on 1 July 1983 as Malaysia's first Islamic bank, with paid-up capital of RM80 million; Lembaga Tabung Haji, the pilgrims' fund, was its main shareholder, and it went through a recovery plan after the losses of 2005 and 2006.

• Islami Bank Bangladesh 1983 Company Bangladesh

  A Bangladeshi bank in Dhaka, incorporated on 13 March 1983 and operating from 30 March 1983 as the first shari'ah-compliant bank in Bangladesh, with the Islamic Development Bank and Saudi and Kuwaiti investors among its founders; it is the country's largest private banking network, changed ownership in 2017 and faced a loan crisis in 2022.

• Arabian Oud 1982 Brand

  Arabian Oud.

• Qatar Islamic Bank 1982 Company United KingdomQatar

  A Qatari bank based in Doha, founded in 1982, whose operations are supervised by a Shari'a board; the Qatar Investment Authority is its largest shareholder, and it was 15th on Forbes Middle East's 30 Most Valuable Banks 2025.

• Al Islami Foods 1981 Brand

  Al Islami Foods.

• Herfy 1981 Restaurant

  Herfy.

• Bahrain Islamic Bank 1979 Company Bahrain

  A commercial bank in Manama, founded on 7 March 1979 and operating from 2 Muharram 1400, 22 November 1979; it is the first Islamic bank in Bahrain, supervised by the Central Bank of Bahrain and listed on the Bahrain Bourse.

• Rasasi 1979 Brand

  Rasasi.

• Jordan Islamic Bank 1978 Company

  Jordan Islamic Bank.

• Faisal Islamic Bank of Egypt 1977 Company Egypt

  An Egyptian joint-stock bank based in Cairo, incorporated in 1977 and opened to customers on 5 July 1979, which describes itself as the first Egyptian Islamic commercial bank; its founding is linked with Prince Mohammed al-Faisal, and in 2025 it had 43 branches and about 2.5 million current accounts.

• Faisal Islamic Bank of Sudan 1977 Company Sudan

  An Islamic bank in Khartoum, founded in May 1977 by 86 Sudanese, Saudi and other founders from Islamic states, which describes itself as having an Islamic orientation and Sudanese features; in 2016 it was described as Sudan's largest lender.

• Kuwait Finance House (KFH) 1977 Company United Arab EmiratesBahrainGermany

  A Kuwaiti bank founded in 1977 as Kuwait's first bank operating according to Sharia rulings; it opened on 31 August 1978 and was listed on the Kuwait Stock Exchange in 1984; it has branches and subsidiaries in Bahrain, Turkey, Egypt, Iraq, Saudi Arabia and the UAE, completed its acquisition of Ahli United Bank in 2022, and Kuwaiti state funds hold its largest stakes.

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