Dubai's Islamic bank tops growth of Islamic banks

Dubai Islamic Bank (DIB) is the fastest growing Islamic bank in GCC countries, with an 18% increase in assets, or $ 8.8 billion, to $ 56.5 billion last year, according to a MEED analysis. This year and next year.

Werba Al Kuwaiti joined the 20 largest Islamic banks in the GCC countries with a growth rate of 60% and a growth of its assets of 5.9 billion dollars, against 3.7 billion dollars last year . The Islamic Bank of Sharjah and the Development Bank, Al Bilad Bank in Riyadh and Boubayan Kuwait recorded a double-digit growth rate.

The report noted that the Islamic economy had recorded a remarkable 7% growth last year in the GCC countries, compared to 4% in conventional banks. Stressing that the Islamic economy in the Gulf has grown at a time when it has fallen globally this year. Standard & Poor's and Fitch Ratings said that the growth rate of Islamic assets had remained high last year, with the 20 largest Islamic financial institutions posting 10% growth.