Banking

A Quest for Publically Available Bank-level Data

Attend a seminar or read a report on Islamic finance and chances are you will come across a figure between $1 trillion and $1.6 trillion, referring to the estimated size of the global Islamic assets. While these aggregate global figures are frequently mentioned, publically available bank-level data have been much harder to come by.

Considering the rapid growth of Islamic finance, its growing popularity in both Muslim and non-Muslim countries, and its emerging role in global financial industry, especially after the recent global financial crisis, it is imperative to have up-to-date and reliable bank-level data on  Islamic financial institutions from around the globe.

To date, there is a surprising lack of publically available, consistent and up-to-date data on the size of Islamic assets on a bank-by-bank basis. In fairness, some subscription-based datasets, such Bureau Van Dijk’s Bankscope, do include annual financial data on some of the world’s leading Islamic financial institutions. Bank-level data are also compiled by The Banker’s Top Islamic Financial Institutions Report and Ernst & Young’s World Islamic Banking Competitiveness Report, but these are not publically available and require subscription premiums, making it difficult for many researchers and experts to access. As a result, data on Islamic financial institutions are associated with some level of opaqueness, creating obstacles and challenges for empirical research on Islamic finance.

The recent opening of the Global Center for Islamic Finance by World Bank Group President Jim Young Kim may lead to exciting venues and opportunities for standardization, data collection, and empirical research on Islamic finance. In the meantime, the Global Financial Development Report (GFDR) team at the World Bank has also started to take some initial steps towards this end.

The GFDR team has compiled the names of about 400 Islamic financial institutions from 58 countries in the first version of its publically available Islamic Banking Database. Currently the dataset presents financial data for 73 of these institutions, which accounts for about $674 billion of the global Islamic assets (Table 1). To ensure accuracy, the information presented in the Islamic Banking Database is obtained from financial statements of the financial institutions, central banks, the Islamic Development Bank, and other regulatory and supervisory bodies. An earlier version of the dataset was also made available at the country level in Appendix C of the 2014 GFDR.

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The Islamic Banking Database is currently in its first version. Financial data for the other 300+ institutions will be published in several iterations as they are compiled. So, please make sure to check back frequently. In the meantime, your comments and suggestions are welcome at [email protected]!

Table 1. Islamic Assets, Liabilities, and Income, 2012 (by institution)

Financial Institution
Country
Total Assets (Million USD)
Total Liabilities  (Million USD)
Total Income (Million USD)
FINCA Afghanistan
Afghanistan
12.2
 
 
IIFC
Afghanistan
20.3
 
 
The Muslim Community Co-operative
Australia
22.9
 
 
Kauthar Bank JSC
Azerbaijan
21.7
 
 
Al Ahli United Bank
Bahrain
29,896.4
15,972.2
 
Al Salam Bank Bahrain
Bahrain
2,498.6
1,946.8
63.2
Al-Baraka Islamic Bank
Bahrain
3,761.4
3,313.9
108.3
Arab Islamic Bank (E.C)
Bahrain
87.6
 
 
Bahrain Islamic Bank
Bahrain
2,214.9
2,029.4
65.1
Bank Alkhair
Bahrain
1,172.5
653.1
66.1
Capinnova Investment Bank
Bahrain
405.2
9.7
19.9
Citi Islamic Investment Bank E.C.
Bahrain
47.1
0.5
17.0
Elaf Bank
Bahrain
382.8
55.1
11.9
First Energy Bank B.S.C. (FEB)
Bahrain
3,713.8
638.8
214.1
Global Banking Corporation B.S.C.
Bahrain
120.0
8.4
4.1
Gulf Finance House
Bahrain
2,361.3
1,350.2
168.6
Gulf International Bank BSC
Bahrain
17,704.8
15,574.6
255.0
International Investment Bank B.S.C.
Bahrain
438.3
9.0
48.1
Investors Bank
Bahrain
40.4
7.6
1.6
Ithmaar Bank
Bahrain
7,245.0
6,422.1
232.7
Khaleeji Commercial Bank BSC
Bahrain
1,254.7
938.0
35.9
Kuwait Finance House Bahrain
Bahrain
3,907.4
2,894.9
119.6
Liquidity Management Centre B.S.C
Bahrain
566.5
410.7
21.4
Seera Investment Bank B.S.C.
Bahrain
360.3
155.9
40.3
Venture Capital Bank B.S.C.
Bahrain
209.5
11.9
33.6
ABC Islamic Bank
Bahrain
2,828.8
2,203.0
42.5
Al-Arafah Islamic Bank Ltd
Bangladesh
1,861.3
1,686.1
87.0
ICB Islamic Bank Ltd
Bangladesh
40,092.1
63,062.0
1,713.2
Shahjalal Islami Bank Ltd
Bangladesh
1,668.7
1,545.5
81.9
Social Islami Bank Ltd (SIBL)
Bangladesh
1,431.1
1,304.5
69.2
Islami Bank Bangladesh Ltd
Bangladesh
6,015.1
5,520.8
307.4
Al Baraka Bank Egypt, Arab Rep.
Egypt, Arab Rep.
2,772.0
2,602.0
100.5
Faisal Islamic Bank of Egypt, Arab Rep.
Egypt, Arab Rep.
6,786.9
6,350.4
274.4
Arab Islamic Bank
Jordan
14.8
 
 
FINCA Jordan
Jordan
9.0
 
 
Boubyan Bank
Kuwait
6,695.0
5,816.1
218.2
Gulf Investment House
Kuwait
230.4
163.4
14.6
Kuwait Finance House
Kuwait
52,232.0
46,509.1
2,705.9
Kuwait International Bank
Kuwait
4,438.7
3,669.4
159.5
Affin Islamic Bank Berhad
Malaysia
3,696.3
3,489.8
64.3
Al Rajhi Banking & Inv. Corp. (Malaysia)
Malaysia
18,547.5
16,657.2
583.4
Alliance Islamic Bank Berhad
Malaysia
17,258.6
15,807.8
599.3
AmIslamic Bank Berhad, Islamic Banking Services
Malaysia
7,985.0
7,411.1
272.9
Asian Finance Bank
Malaysia
939.8
782.0
14.7
Bank Islam Malaysia Berhad
Malaysia
12,513.1
11,475.5
467.8
Bank Muamalat Malaysia Berhad
Malaysia
6,643.7
6,139.7
192.3
CIMB Islamic Bank Berhad
Malaysia
17,128.1
16,344.5
347.8
Hong Leong Islamic Bank Berhad
Malaysia
7,323.5
6,927.1
123.4
Kuwait Finance House (Malaysia) Berhad
Malaysia
24,122.8
20,093.9
836.0
Maybank Islamic Berhad
Malaysia
30,572.2
29,052.4
652.8
RHB Islamic Bank Berhad
Malaysia
67,912.1
63,420.8
1,244.9
Standard Chartered Saadiq Berhad
Malaysia
19,437.5
17,995.9
622.3
Al Baraka Bank (Pakistan) Limited
Pakistan
760.0
698.0
20.1
Bank Islami Pakistan Limited
Pakistan
763.7
706.4
30.9
Burj Bank Limited
Pakistan
485.4
425.1
17.0
Faysal Bank Limited
Pakistan
3,220.8
3,005.0
146.6
Qatar Islamic bank
Qatar
20,104.9
16,763.4
694.3
Qatar International Islamic Bank
Qatar
7,844.8
6,461.5
258.4
Alinma Bank
Saudi Arabia
14,403.9
9,960.1
483.3
Bank Albilad
Saudi Arabia
78,964.5
67,373.9
5,596.8
Albaraka Bank Limited
South Africa
438.6
395.9
17.7
Faisal Islamic Bank
Sudan
1,270.4
1,161.5
86.2
Albaraka Turk Participation Bank
Turkey
6,892.0
6,210.9
394.6
Asya Finance Participation Bank
Turkey
11,958.6
10,645.1
745.1
Kuwait Turkish Participation Bank
Turkey
10,396.5
9,430.3
551.2
Turkiye Finance Participation Bank
Turkey
9,848.9
8,660.8
611.1
Abu Dhabi Islamic Bank
United Arab Emirates
23,322.8
19,878.2
970.8
Dubai Islamic Bank
United Arab Emirates
25,963.7
23,088.7
1,026.5
Emirates Islamic Bank
United Arab Emirates
10,145.3
9,431.5
273.2
Sharjah Islamic Bank
United Arab Emirates
4,986.7
3,776.8
175.9
European Islamic Investment Bank
United Kingdom
108.8
27.1
4.4
Arab Islamic Bank*
West Bank and Gaza
180.6
 
 
Tadhamon International Islamic Bank
Yemen, Rep.
2,103.3
1,817.6
59.6
Notes
*: Data from 2009.
1. The reference point for the data is the end of 2012, unless indicated otherwise.
2. This is work in progress. The World Bank does not guarantee the accuracy of the data included in this work.
3. The data are updated regularly, using publicly available sources of data and numbers provided by central banks and individual financial institutions.
4. The information is ordered alphabetically (by country and by institution name).
5. Empty cells indicate lack of data.
6. Some of the listed institutions only offer Shari’a compliant products and service while others have an Islamic Banking window where, alongside their conventional products, they also offer Shari’a compliant financial services.
7. “Country” refers to a territorial entity for which statistical data are maintained and provided internationally on a separate, independent basis (not necessarily a state as understood by international law and practice).
8. Only institutions with available data are included in the table. Data on the other 300+ institutions are currently being compiled. Visit the Islamic Banking Database site to download the most recent database.

Source : blogs.worldbank.org

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