Islamic financial institutions

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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). The rating agency S&P estimates the size of the market in 2015 reaching USD 1'600 million.

Islamic Financial Institutions (By Region and Country)



Al Baraka Bank Algeria (website)

Al Salam Bank Algeria (website)


Salama Assurances Algerie (website)


First National Bank of Botswana(website, Islamic window)


Afriland First Bank (Islamic window announced)


Ecobank (website) Islamic window


Dahabshiil Bank International(website)

Saba Islamic Bank (website)

Salaam African Bank (website)

Shoura Bank (website)


Al Baraka Bank Egypt[1]

AT. Asset Management (website)

A.T Brokerage (website)

Faisal Islamic Bank (website)

Ridge Islamic Capital (website)

National Bank of Development (website)


Arab Orient Takaful Insurance Co. (Egypt)(website)

Egyptian Saudi Insurance House (Egypt)(website)

Egyptian Takaful (Life) (Egypt)(website)

Egyptian Takaful (Non-Life) (Egypt)

Nile Family Takaful (Egypt)(website)

Nile General Takaful (Egypt)(website)

Solidarity for Family Takaful Insurance (Egypt)

Wethaq Takaful Insurance Co. (Egypt)(website)


Zamzam Bank International under formation (website)


Arab Gambian Islamic Bank (website)

Takaful Gambia Limited (Gambia) (website)


Ghana Islamic Microfinance (website)


Banque Islamique de Guinée (website)


First Community Bank (website)

Gulf African Bank (website)

Islamic Windows

Barclay's Bank Kenya (website) (Islamic window)

Chase Bank

African Banking Corporation

Imperial bank

Diamond Trust Bank

Standard Chartered


Takaful Insurance of Africa (TIA) (Kenya) (website)


African Arabian Islamic Bank


Takaful Insurance Company (Libya) (website)


Banque Al Wava Mauritanienne Islamique (website)



SMAI Islamique (Mauritania)

Taamin Assurances Islamiques(website)


Century Banking Corporation (website)

BAI (Takaful) (website, offline 9.16, firm inactive)


Jaiz Bank (website)

Lotus Capital (website)


Banque Islamique du Sénégal(website)

SALAMA Senegal (Sosar Al Amane, Takaful) (website)

South Africa

Absa Islamic Banking (website) (Islamic window)

Al-Baraka Bank (website)

Reliance Takaful


Abu Dhabi National Bank

African Bank for Trade and Development

Agricultural Bank

Animal Resources’ Bank

Aljazeera Sudanese Jordanian Bank

Al Salam Bank - Sudan (website)

Al-Shamal Islamic Bank (Wikipedia)

Arab Sudanese Bank

Bank of Khartoum (website)

Baraka Bank (Sudan)

Blue Nile Mashreq Bank

Byblos Bank ( Africa )

El -Nilien Bank

Emirates and Sudan Bank (website)

Export Development Bank (previously El-Gharb Islamic Bank)

Faisal Islamic Bank (website)

Family Bank

Farmer’s Commercial Bank

Financial Investment Bank

Industrial Development Bank

Islamic Co-operative Development Bank

National Bank of EGYPT (Khartoum)

National Bank of Sudan

Omdurman National Bank

Quatar National Bank

Real Estates Commercial Bank

Savings and Social Development Bank

Saudi Sudanese Bank

Sudanese Egyptian Bank

Sudanese French Bank

Sudanese Islamic Bank

Tadamon Islamic Bank

United Capital Bank

Workers’ National Bank


Al Salama Insurance Co (website)

Al-Ta'awuniya Insurance Co. (website)

Al-Baraka (website)

Blue Nile Insurance Co.

El Nilein Insurance Co. (website)

General Insurance Co.

Islamic Insurance Co. (website)

JUBA Insurance Co.

Middle East Insurance Co. (website)

National reinsurance Co.

Red Sea Insurance Company Limited

Savana Insurance Co. Ltd (website)

Shiekan Insurance & Reinsurance (website)

The Sudanese Insurance and Reinsurance Company Ltd (SUDINRECO) (website)

The United Insurance Co.


Amana Bank Ltd. (website)


Al Baraka Bank, Tunisia(website)

Zitouna Bank (website)


Assurance At Takafulia(website)

El Amana Takaful(website)

Zitouna Takaful (website)


"Islamic Bank of Zambia Ltd" under formation (announced)

Asia (Northern)


Afghan United Bank (website)

Bank-e-Millie Afghan (website)

Ghazanfar Bank (website)

Maiwand Bank (website, applicant for Window)

New Kabul Bank (website Window)


FINCA Afghanistan (website)


Bank of Ningxia

Asia (South and Southeast)


Al-Arafah Islami Bank Limited (website)

Exim Bank (website)

First Security Islami Bank Limited (website)

ICB Islamic Bank Ltd (website)

IslamiBank Bangladesh Limited (website)

Shahjalal Islami Bank (website)

Social Islami Bank Ltd (website)

Union Bank Ltd[2]

non bank

Islamic Finance and Investment Limited (website)

Hajj Finance Company Limited (website)


Fareast Islami Life Insurance Co. Ltd (Bangladesh) (website)

Islami BIMA (Takaful-Megna Life Insurance) (Bangladesh)

Islami Insurance Bangladesh Limited (Bangladesh) (website)

Islamic Commercial Insurance Co. (Bangladesh)

Padma Islami Life Insurance (Bangladesh) (website

Prime Life Insurance Limited (Bangladesh) (website)

Takaful Islami Insurance Limited (Bangladesh) (website)

Brunei Darussalam

Bank Islam Brunei Darussalam (website)

Perbadanan Tabung Amanah Islam Brunei (TAIB) (website)


Insurans Islam TAIB (Brunei) (website)

Takaful Brunei Darussalam Sdn Bhd (Brunei) (website)


AICMEU's Baitulmal Cooperative Credit Society Ltd. (website)

Alternative Investments and Credits Limited (website)

Janseva Cooperative Credit Society Ltd. (website)

Sahulat Microfinance Society (website)

Secura Investment Management (website)

Zamzam Capital LLP (website)

Zayd Chit Funds Pvt. Ltd. (website)

Parsoli Corporation (website)


Taqwaa Advisory and Shariah Investment Solutions (website)

Infinity Consultants (website)


Bank Danamon (website) (Islamic window)

Bank Mega Syariah (website - Indonesian only)

Bank Bukopin (website (Islamic window)

Bank Syariah Mandiri (website - Indonesian only)

CIMB Niaga (website)

Bank Muamalat Syariah (website)


Asuransi Syariah Mubarakah (Indonesia) (website)

Takaful Keluarga (Life Insurance) (Indonesia) (website)

Asuransi Takaful Umum (Indonesia) (website)

Jaya Proteksi Takaful (Indonesia) (website)

Syarikat Takaful Indonesia (Indonesia) (website)


Al Baraka Islamic Bank (Pakistan) (website)

Bank Al Habib(website)

BankIslami (website)

Burj Bank Limited, formerly Dawood Islamic (website)

Dubai Islamic Bank Pakistan Limited (website)

Emirates Global Islamic Bank Limited [merged with Al Baraka Islamic, see above]

Summit Bank Pakistan (website)

MCB Islamic (website)

Meezan Bank (website)


Dawood Family Takaful Limited (website)

Pak Qatar Family Takaful (website)

Pak Qatar General Takaful (website)

Pak-Kuwait Takaful Company Limited (website)

Takaful Pakistan Limited (website)


Affin Islamic Bank Bhd (website)

Al Rajhi Banking & Investment Corporation (Malaysia) Bhd (website)

Asian Finance Bank Bhd (website)

Alliance Islamic Bank Bhd (website)

AmIslamic Bank Bhd (website)

Bank Islam Malaysia Bhd (website)

Bank Kerjsama Rakyat Malaysia Bhd (website)

Bank Muamalat Malaysia Bhd (website)

CIMB Islamic Bank Bhd (website)

EONCAP Islamic Bank Bhd (website) (Islamic window)

Hong Leong Islamic Banking Bhd (website)

HSBC Amanah Malaysia Bhd (website) (Islamic window)

Koperasi Bank Persatuan Malaysia Bhd (website)

Kuwait Finance House (Malaysia) Bhd (website)

Maybank Islamic Bhd (website)

OCBC Al-Amin Bank Bhd (website)

Public Islamic Bank Bhd (website)

RHB Islamic Bank Bhd (website) (Islamic window)

Standard Chartered Saadiq Bhd (website) (Islamic window)


AIA AFG Takaful Berhad (website)

AIA Takaful International Berhad (ATIB) (website)

Allied Cooperative Insurance Group EC

AmFamily Takaful (website)

CIMB Aviva Takaful Berhad (website)

Etiqa Takaful Berhad (website)

Great Eastern Takaful (website)

Hong Leong Tokio Marine Takaful Berhad (website)

ING Public Takaful Ehsan (website)

MAA Takaful (website)

Prudential BSN Takaful Berhad (website)

Syarikat Takaful Malaysia Berhad (website)

Takaful IKHLAS (website)

Sri Lanka

Amana Bank (website)

Amana Takaful Ltd (website)


Islamic Bank of Thailand (website)


Finansa Life Assurance (website)

Dhipaya Insurance Public Company Limited (website)

Kamol Sukosol Insurance Co. (website)

Muang Thai Takaful (Thailand) (website)

Australia and Pacific Islands


Islamic Co-operative Finance Australia Limited (website)

Muslim Community Co-Operative Australia (Ltd) (website)

Westpac (website) (Islamic window)

Commonwealth of Independent States


Kauthar Bank (website)


Partnerships in commenda "Amana"(website)


Financial House " Masraf" [data missing]

Saada (website)


Al Hilal Islamic Bank Kazakhstan (website)



Center of Partnership Banking (website)

Russian Federation

Al-Shams Capital (website)

Amal Financial House will (raises funds and extends financing in a Sharia-compliant way) (website)

Eurasian leasing company (website)

Lariba (partnership in commenda, raises funds and extends financing in a Sharia-compliant way)


Badr-Forte Bank (website) (closed in 2006)

BCS Asset Management (investment fund "Halal" - ceased) (website)

Ellips Bank (window, ceased to exist) (website)

Evropolis (takaful window, ceased to exist) (website)



Bosna Bank International (website)


Islamic Bank International of Denmark (closed, 1st European Islamic bank

Amanah Denmark house financing(website)


Chaabi Harmonis, Islamic Window (website)


KT Bank AG [3]


FWU AG (Takaful globally) (website)

MunichRe (Retakaful, Center of Competence) (website)


Atlantic Lux (website)

Solidarity Takafol S.A. (Luxembourg)

The Netherlands

Garantibank International (website / window)


Global Housing(website)


Safa Investment Services (website)

Dar Al-Maal Al Islami Trust (website)

Faisal Private Bureau (website) bank license ended, now family office

Bank J. Safra Sarasin (website) - Islamic window


Al Baraka Turk (website)

Bank Asya, to be dissolved (website)

Kuveyt Turk (website)

Turkiye Finans (website)

Vakif Katilim Bank (website)

Ziraat Katilim Bank (website)

United Kingdom

ABC International Bank plc (website)

Ahli United Bank (UK) plc (website)

Bank of London & The Middle East (website)

European Finance House (website)

European Islamic Investment Bank plc (website)

Gatehouse Bank plc (website)

Islamic Bank of Britain plc, rebranded to Rayan Bank (website)

Lloyds TSB (Windows)

Al Rayan Bank(website)

Scottish Widows(fund manager)

QIB UK (website)

Middle East


Retail Banks

Al Baraka Islamic Bank (website)

Al-Salam Bank Bahrain (website)

Bahrain Islamic Bank (website)

Ithmaar Bank (website)

Khaleeji Commercial Bank

Kuwait Finance House (Bahrain)

Shamil Bank of Bahrain (website)

Wholesale Banks

ABC Islamic Bank

Arab Islamic Bank


Bank Al-Khair

Capinnova Investment Bank

Citi Islamic Investment Bank

First Energy Bank

Global Banking Corporation

Gulf Finance House

Ibdar Bank Merger of Capital Management House (CMH), CAPIVEST and Elaf Bank

International Investment Bank

Investment Dar Bank [(closed)]

Investors Bank

Kuwait Turkish Participation Bank

Liquidity Management Centre

Seera Investment Bank

Venture Capital Bank


Allianz Takaful (Bahrain) (website)

ACR Retakaful MEA (website)

Al-Salam Islamic Takaful Co. (Bahrain) (entry requires review)

Chartis Takaful-Enaya BSC (Bahrain) (website)

Legal & General Gulf Takaful (Bahrain) (website)

Sarikat Takaful al-Islamiyah (Bahrain)

Solidarity Family Takaful (Bahrain) (website)

Solidarity General Takaful (Bahrain) (website)

Takaful International Co. (Bahrain Islamic Insurance Co.) (Bahrain) (website)

Takaful Islamic Insurance Co. EC (Bahrain)

T'azur Co BSC (Bahrain) (website)


main source: Central Bank of Iraq (Listing)

Iraqi Islamic Bank (website)

Elaf Islamic Bank (formerly: Barakaat Bank for Investment & funding) (website)

Kurdistan International Bank for Investment & Development Erbil (website)

National Islamic Bank Baghdad(website)

Regional Cooperation of the Islamic Bank for Development & Investment Baghdad

Bank Al-Bilad Islamic for Investment & Finance Baghdad (website)

Cihan Bank for Islamic Investment & Finance

International Development Bank for Investment & Islamic Finance Baghdad Al-Karrada (website)

Abu Dhabi Islamic Bank Baghdad/ Arsat lndian (website)

Al-Baraka Turkatilim Bankasi A.S.

World Islamic Bank (website)


Bank Melli Iran

Bank Sepah

Post Bank of Iran

Bank Maskan

Bank of Industry and Mine

Export Development Bank of Iran

Gharzolhasaneh Mehr Iran Bank

Keshavarzi Bank

Tose'e Ta'avon Bank

Ansar Bank

Bank Mellat

Bank Pasargad

Bank Saderat Iran

City Bank

Day Bank

EN Bank

Hekmat Iranian Bank

Iran Zamin Bank

Karafarin Bank

Parsian Bank

Refah Bank

Saman Bank

Sarmayeh Bank

Sina Bank

Tat Bank

Tejarat Bank

Tourism Bank

Europäisch-Iranische Handelsbank

Islamic Development Cooperation and Regional Investment Bank

Standard Chartered

Iran-Venezuela Bi-National Bank

Askariye Finance and Credit Institution

Credit Institution for Development

Ghavamin Finance and Credit Institution

Mehr Finance and Credit Institution

Pishgaman Finance and Credit Institution Iran (Āti)

Salehin Finance and Credit Institution

Samen Alaemeh Credit Cooperative


Alborz Insurance Co. (Iran) (website)

Asia Insurance Co. (Bimeh Asia) (Iran) (website)

Bimeh Iran (Iran insurance company) (Iran) (website)

Bimeh Markazi Iran (Central Insurance of IR Iran) (Iran) (website)

Bimeh Parsian (Iran) (website)

Bimeh Sina (Iran) (website)

Bimeh Toseh-eh (Iran)

Dana Insurance Co. (Iran) (website)

Day Insurance Company (Iran) (website)

Hafez Insurance Co. (Iran) (website)

Karafarin Insurance Co. (Iran) (website)

Mellat Insurance Company (Iran) (website)

Omid Insurance Co. (Iran) (website)

Parsian Insurance (Iran) (website)

Razi Insurance Co. (Iran) (website)

Saman Insurance Co. (Iran) (website)


Islamic International Arab Bank (website)

Jordan Dubai Islamic Bank (website)

Jordan Islamic Bank (website)


Al Barakah Takaful Co. (Jordan)

First Insurance Co. (Jordan) (website)

The Islamic Insurance Co. (Jordan) (website)


ahli united bank (website)

ALAFCO (website)

Al Rajhi Bank of Kuwait (website)

Bank Boubyan (website)

Dimah Capital (website)

Kuwait Finance House (website)

Kuwaiti International Bank (website)

Noor Investment (website)

Warba Bank (website)


Ain Takaful Insurance Co. (Kuwait)

Al Safat Takaful Co. (Kuwait)

AL-Muthanna Takaful Insurance Company (Kuwait) (website)

Boubyan Takaful (website)

National Takaful Insurance Company (website)

First Takaful Insurance Co. (Kuwait) (website)

Gulf Takaful Insurance Co. (Kuwait) (website)

Ritaj Takaful Insurance Company (website)

Takaful International Insurance Company (Kuwait)

Takaful Islamic Insurance Company (Kuwait)

Wethaq Takaful (Kuwait) (website)


Al-Baraka Bank Lebanon (website)

Arab Finance House SAL (website)

Lebanese Islamic Bank (website)


Al Aman Takaful Insurance SAL (Lebanon)


Al Izz Islamic Bank (website)

Bank Al Nizwa (website)

Bank Dhofar, Islamic Window (website)

Bank Muscat, Meethaq - Islamic Window(website)

National Bank of Oman, Muzn Islamic Banking (website)


Palestine Takaful Insurance Co.


Barwa Bank (website)

Masraf al Rayan (website)

Qatar International Islamic Bank (website)

Qatar Islamic Bank (website)


Aljasr Takaful (website)

Al Khaleej Takaful Ins & Reins Co. (website)

Damaan Islamic Insurance Company (Beema)(website)

General Takaful Company GTC (website)

Qatar Takaful Co.

Qatar Islamic Insurance Co. (website)

Saudi Arabia

Alinma Bank (website)

Al Rajhi Bank (website)

Bank Al Bilad (website)

Bank AlJazira (website)

Islamic Development Bank (website)

various capital market companies capital market regulator, see list of authorised firms

Al Rajhi Capital(website)

Al Wasatah (website)

Al Bilad Invest (website)

Alinma Invest(website)

Al Jazira Capital(website)

Al Khair Capital (website)

Arbah Capital(website)

Bait Al Mal Al Khaleeji (BMK) (website)

BMG Financial Group (website)

Falcom Financial Services (website)

Gulf Advisors (website)

HSBC Saudi (website)

Ithraa Capital (website)

Itqan Capital (website)

Jadwa Investments(website)

KSB Capital Group(website)

NCB Capital(website)

Safa Investor Services (website)

Saudi Kuwaiti Finance House (website)


Ace Arabia Cooperative Insurance Co. (website)

Al Alamiya for Cooperative Insurance Company (website)

Al Alhi Takaful (website)

Al Ahlia for Cooperative Insurance (website)

Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) (website)

Al Sagr Cooperative Insurance Company (website)

Allianz Saudi Fransi Cooperative Insurance (website)

Allied Cooperative Insurance Group (ACIG) (website)

Amana Cooperative Insurance Company (website)

Arabia Insurance Cooperative Company (website)

Arabian American Insrurance Co. EC

Arabian Malaysian Takaful

Arabian Shield Cooperative Insurance Company (website)

AXA Cooperative Insurance Co. (website)

BUPA Arabia for Cooperative Insurance (website)

Buruj Cooperative Insurance Co (Saudi Pearl Insurance Co.) (website)

Gulf General Cooperative Insurance Co. (website)

Gulf Union Cooperative Insurance Co. (website)

Gulf Union Insurance and Risk Management Company E.C. (website)]

International Islamic Insurance Co. (website)

Islamic Corporation for Insurance of Investment and Export Credit (website)

Islamic Security

Malath Cooperative Insurance & Reinsurance (website)

Mediterranean and Gulf Insurance and Reinsurance Company (MEDGULF) B.S.C. (website)

Saab Takaful (website)

Salama (Saudi IAIC for Cooperative Insurance Co) (website)

Sanad Cooperative Insurance and Reinsurance Company (website)

Saudi Arabian Cooperative Insurance Company (SAICO) (website)

Saudi General Insurance Company EC (website)

Saudi Indian Company for Cooperative Insurance (website)

Saudi National Insurance Co. (Wataniya) (website)

Saudi United Co-operative Insurance (Wala'a) (website)

Solidarity Saudi Takaful Co. (website)

Takaful Ta'awuni Division, Bank Al Jazira (website)

The Company for Cooperative Insurance (Tawuniya) (website)

Tokio Marine Saudi Arabia (website)

Trade Union Cooperative Insurance & Reinsurance (website)

United Cooperative Assurance Company (UCA) (website)

Weqaya Takaful Insurance & Reinsurance Company (website)

Islamic Takaful & Re-takaful Co. (Saudi Arabia & Bahamas) (website)]


Al Baraka Bank Syria (website)

Cham Bank (website)

Syria Finance House (announced)

Syria International Islamic Bank (website)


Al Aqeelah Takaful Insurance Co. (website)

Aman Syria for Takaful Insurance

Noor Takaful Insurance Co.

Syrian Islamic Insurance (website)

United Arab Emirates

Emirates Islamic Bank (website)

Abu Dhabi

Abu Dhabi Islamic Bank (website)

Al Hilal Bank [4]

United Arab Bank, Islamic Window (website)


Ajman Bank (website)


Dubai Islamic Bank (website)

Noor Islamic Bank (website)

Dubai Bank merged with Emirates Islamic Bank(website)

Emirates Islamic Bank, Islamic Window (website)

Standard Chartered, Islamic Window (website)


Bank J. Safra Sarasin Asset Management (Middle East) Ltd window, website)

Kuwait Turkish Participation Bank (Dubai) Limited (Press Release)

Millennium Finance Corporation (Registrar entry)

Quantum Investment Bank (website)

Yusr Islamic Investment Bank (website)


Ras al-Khaimah


Sharjah Islamic Bank (website)

Umm al-Quwain

National Bank of Umm al-Quwain (Islamic window) (website)


Abu Dhabi National Takaful Co. (website)

Al Hilal Takaful Company (website)

Al- Sagr National Insurance Co. (website)

Dar Al Takaful (Takaful House Company) (website)

Dubai Islamic Insurance & reinsurance Co. (AMAN) (website)

Islamic Arab Insurance (Salama) (website)

Methaq Takaful Insurance Co (Methaq Lil Takaful) (website)

National Takaful Company PSC (Watania) (website)

Noor Family Takaful (PJSC) (website)

Noor General Takaful (PJSC) (website)

Takaful Emarat (website)


Islamic Bank of Yemen (website)

Tadhamon International Islamic Bank (website)


United Insurance Co. (website)

Yemen Islamic Insurance Company (Y.S.C)

North America


Home Finance

Al-Ansar Housing Cooperative Housing Corporation Ltd. (website)

An-Nur (Ontario) Housing Cooperative Corp. Ltd. (website)

Assiniboine Credit Union(website)

Islamic Credit Union of Canada (website)

Qurtuba Housing Cooperative & Al-Ittihad Investment Inc (website)

UM Financial [(dissolved, see full entry by clicking on the name)]

Mutual Funds

frontierAlt Capital Corporation (website)

Global Prosperata Funds (website)

United States

Islamic banks and windows

Bank of Whittier, N.A. (website) (Whittier, California)

Devon Bank (website) (Chicago, Illinois)

University Islamic Financial Corp (website) (Ann Arbor, Michigan)

Jafari No-Interest Credit Union [5]

Non-bank financial institutions

Abrahams River(website)

Ameen Housing Cooperative of California (website) (Santa Clara, California)

American Finance House-LARIBA (website) (Pasadena, California)

Devon Islamic Ventures Offshore (website)

Guidance Residential (website) (Reston, Virginia)

ShariaPortfolio (website)

Zayan Finance (website) (New York, New York)

Mutual Funds and Exchange-traded Funds

Allied Asset Advisors -- Iman Fund (website)

Azzad Asset Management (website)

Florentez Investment Management -- ShariahShares

Javelin Investment Management (website)

Saturna Capital Corp -- Amana Funds (website) (Bellingham, Washington)

Private Equity and Alternative Investments

Arcapita (website) (Atlanta, Georgia)

Shariah Capital (website) (New Canaan, Connecticut)

UIB Capital (website) (Chicago, Illinois)


Zayan Takaful (website) (New York, New York)

South America

Trinidad and Tobago

Takaful T & T Friendly Society (website)

Shariah Advisors

Ethica Institute (website)

Idealratings (website)

McKareem (website)

Shape Financial Corp (website)

Shariyah Review Bureau (website)

Straight Way Ethical Advisory (Massachusetts) (website)