The World Islamic Banking Conference (WIBC), to be held in Bahrain later this month, will be announcing its Leaderboard ranking of Islamic banks based on financial and governance parameters.

The WIBC Performance Awards 2018 will be announced on 27 November 2018.

The Leaderboard compares metrics such as financial stability, performance, governance and social responsibility to derive at the ranking. The banks will also be ranked on the basis of an aggregate score. The data employed in creating the assessment framework has been sourced from the ICD Thomson Reuters Islamic Finance Development Indicator (IFDI) and Orbis Bank Focus.

Banks vying for the “Global Award” include Kuwait Finance House (Kuwait); Al Rajhi Bank (Saudi Arabia); Jordan Islamic Bank (Jordan); Kuwait International Bank (Kuwait); Boubyan Bank (Kuwait); Ahli United Bank (Kuwait); Warba Bank (Kuwait); PT Bank Syariah BNI (Indonesia), Maybank Islamic Berhad (Malaysia) and Dubai Islamic Bank (UAE).

This year will also see the Governance & CSR Award (Corporate Social Responsibility) that is based on scores aggregated as per the CSR Index and the Islamic Finance Development Indicator (IFDI). The Governance and Social Responsibility variables are also extracted from the Thomson Reuters database.

The Leaderboard was first introduced in 2015, aimed at helping Islamic finance industry to critically appraise the challenges and growth opportunities in the field.

by Parnika Sokhi