Criteria & Methodology (Islamic Finance Awards)

Islamic Finance Awards

As retail, corporate and commercial banking customers embrace fintech, leading ‘bricks and mortar’ Islamic finance institutions across Asia have continued to raise their game, fortifying their market share.

The Annual Islamic Finance Awards therefore comes at an important crossroads for the industry in Asia.

Islamic finance institutions will not only be judged against their performance over the last 12 months but also how robust the liquidity and capital positions are, given the dramatic changes in the operating environment over the last 2 years.

Over the last 18 years, we have continued to refine and develop a unique, fair, robust and informative methodology and by adding a number of new criterions to existing awards. We have also broadened the depth of our awards and tightened its eligibility among leading banks in Southeast Asia.

NOTES:

  1. As part of your consumer, corporate and commercial digital banking transformation, please detail how your bank has expanded its digital and physical application channels, along with faster financing decisions enabled by advanced analytics and paperless [or almost paperless] financing closings). The key is to show how your bank has leveraged on the latest range of available technology to leapfrog its competitors by offering an integrated, digital experience for its consumer, corporate and commercial banking clients, all the while in pursuit of operational risk and compliance excellence.
  2. All pitches, nominations and supporting materials must be received no later than 4 May 2026 (close of business at 6pm – Hong Kong time). No extensions to this date will be granted and incomplete entries will not be considered.
  3. Please submit your pitches preferably in PDF format. However, either MS Word & MS PowerPoint files are acceptable too.
  4. There’s no limit as to how many award categories you can pitch for, as a bank. However, we advise you to save individual product award categories in separate files rather than have all product award categories in a single PDF, Word, PP file.
  5. Please DO NOT SUBMIT any transactions that took place outside the awards period i.e., 1 May 2025 – 30 April 2026.
  6. For every deal submitted the date, e.g., month + year – must be clearly stated in order for that given transaction to be taken under consideration.
  7. For investment banking and capital market relation transactions (e.g., debt, equity, M&A), you must also specify the EXACT role your bank has played in the relevant transaction (e.g., lead manager, co-manager) as well as names of all other participating banks on the same transaction In fairness to all, this information is required without which, we reserve the right not to include that transaction for awards consideration.
BEST ISLAMIC FINANCE BANK
  1. Bank’s financials based on the latest full year results, based on your financial year. This should primarily include: Profit after Tax; ROE; CAR; Net Yield Margin (NYM); Current Account Saving Account (CASA); Non-Performing Financing (NPF); Coverage Ratio including Gross Impaired Financing (GIF) ratio and annualized credit cost ratio; – compared to your nearest competitors.
  2. Describe the strength of the bank’s balance sheet (especially Tier-One Capital Ratio) vis-à-vis the minimum regulatory requirement?
  3. Please provide details relating to the range of shariah compliant products available to corporate clients (for e.g., deposits, money market instruments, fixed income markets, etc.,);
  4. Please provide details relating to the bank capabilities in the area of shariah-compliant corporate and commercial banking products;
  5. Percentage breakdown of where the profits come from split between corporate banking vs retail banking;
  6. Market share breakdown from a third-party source that proves your current market share against other leading competitors in your market.
  7. In no more 200 words, describe how your e-banking platform (online & mobile), is superior than other Islamic banks in your market;
  8. Client testimonials; and
  9. Contact person for follow up questions: (Mobile + Email)
BEST ISLAMIC SME BANK
  1. Bank’s financials based on the latest full year results, based on your financial year. This should primarily include: Profit after Tax; ROE; CAR; Net Yield Margin (NYM); Current Account Saving Account (CASA); Non-Performing Financing (NPF); Coverage Ratio including Gross Impaired Financing (GIF) ratio and annualized credit cost ratio; – compared to your nearest competitors.
  2. Describe the strength of the bank’s balance sheet (especially Tier-One Capital Ratio) vis-à-vis the minimum regulatory requirement?
  3. Is the bank implementing the Net Stable Funding Ratio (NSFR) requirement? (where relevant and applicable)
  4. Please specify total assets, third party fund, financing, earning after taxes, total deposits and total branch numbers. Please also detail percentage changes from previous year;
  5. Breakdown of where the profits come from split between (I) micro businesses with 5-10 employees; (II) small businesses with 10-50 employees; & (III) medium businesses with 50-150 employees;
  6. In no more 200 words, describe how your e-banking platform (online & mobile), is superior than other Islamic SME banks in your market; and
  7. Contact person for follow up questions: Tel. + email address should be provided.
  8. Testimonials from SME clients (at least 1 each from the three segments above in point 2); and
  9. Contact person for follow up questions: (Mobile + Email)

Important:

  • Consider citing examples of events, awards, conferences and workshops your bank has organized or supported for SMEs that strengthens your case about your commitment to SMEs, during the awards period;
  • Focus on what you do in your local market. This award category is for a single country and not based on how regional your SME banking capabilities are; However, it is worth mentioning how your cross-border regional network/banking capabilities help your local SME clients;
  • Cite examples of typical turnaround time for SME account opening; internet banking registration; financing, etc., during the awards period, etc.;
  • New products launched over the last 24 months (since April 2024) and measured response since;
  • Percentage of overall financing going to SMEs, during the awards period;
  • Cite examples of Islamic financing support provided by the bank to SMEs under the various government-assisted financing initiatives, during the awards period;
  • Describe how the bank views its market position versus its nearest competitor; &
  • Total number of bank branches in your local market with dedicated SME centers.
BEST ISLAMIC FINANCE RETAIL BANK
  1. Bank’s financials based on the latest full year results, based on your financial year. This should primarily include: Profit after Tax; ROE; CAR; Net Yield Margin (NYM); Current Account Saving Account (CASA); Non-Performing Financing (NPF); Coverage Ratio including Gross Impaired Financing (GIF) ratio and annualized credit cost ratio; – compared to your nearest competitors.
  2. Describe the strength of the bank’s balance sheet (especially Tier-One Capital Ratio) vis-à-vis the minimum regulatory requirement?
  3. Is the bank implementing the Net Stable Funding Ratio (NSFR) requirement? (where relevant and applicable)
  4. Please provide details relating to the range of shariah compliant products available to retail clients (for e.g., deposits, money market instruments, fixed income markets, etc.,);
  5. Percentage breakdown of where the profits come from split between corporate banking vs retail banking;
  6. Please provide details relating to the bank capabilities in the area of shariah-compliant retail deposits, mortgages, unit trusts, etc.,;
  7. Market share breakdown from a third-party source that proves your current market share against other leading competitors in your market.
  8. In no more 200 words, describe how your e-banking platform (online & mobile), is superior than other Islamic retail banks in your market;
  9. Client testimonials; and
  10. Contact person for follow up questions: (Mobile + Email)
BEST ISLAMIC FINANCE SUKUK HOUSE
  1. Please provide details relating to the range of shariah compliant funding products available to your clients
  2. Please provide details relating to the number of shariah-compliant ECM transactions as well as shariah-compliant DCM transactions the bank has been involved between 1 May 2025 – 30 April 2026 in the form of CPs, MTNs and Sukuks;
  3. League table position of only Sukuks or Islamic Financings (from either Bloomberg, Reuters or Dealogic), based on start date of 1 May 2025 – 30 April 2026 (completed deals only, not only priced/announced deals); 
  4. Market share breakdown from a third-party source that proves your current market share against other leading competitors in your market.
  5. Client testimonials; and
  6. Contact person for follow up questions: (Mobile + Email).
BEST ISLAMIC WEALTH MANAGEMENT BANK
  1. Bank’s financials based on the latest full year results, based on your financial year. This should primarily include: Profit after Tax; ROE; CAR; Net Yield Margin (NYM); Current Account Saving Account (CASA); Non-Performing Financing (NPF); Coverage Ratio including Gross Impaired Financing (GIF) ratio and annualized credit cost ratio; – compared to your nearest competitors.
  2. Detail technological innovations with your wealth management solutions, over the last 12-18 months.
  3. Description of the bank’s net worth minimum threshold (in local currency terms) for banking services targeted towards wealthy clients i.e., both Priority (Less than US$2 million equiv.) & HNWI (US$2 million equiv. or more) in the past year (1 May 2025 – 30 April 2026);
  4. Detail your shariah-compliant trust (tax guidance, investing wealth), legacy (succession planning, reallocating wealth), life insurance (protecting wealth) and will (inheritance and philanthropy) services.
  5. Detail your Shariah Screening Process & Investment Guidelines
  6. The net total amount of shariah-compliant AUM on 30 March 2026; & Percentage change from the previous year.
  7. Breakdown of AUM allocation by asset class (Equities, Sukuk, Deposit, Real Estate)
  8. Who are the full-time members of the Shariah advisory/investing Committee?
  9. In no more 200 words, describe how your e-banking wealth management platform (online & mobile), is superior than what is being offered by the other banks.
  10. How many shariah-compliant clients does the bank have. Please also detail percentage changes from previous year;
  11. What is your bank’s ratio of shariah-compliant wealthy clients (both priority banking + HNWI banking) to relationship managers? Please also detail percentage changes from previous year;
  12. Testimonials from clients; and
  13. Contact person for follow up questions: (Mobile + Email).

Important:

  • Are your shariah-compliant wealth management solutions developed in-house or do you rely on the open architecture platform (or both)?
BEST FX BANK FOR CORPORATE ISLAMIC TREASURY (DUAL OR TRIPLE CURRENCY INVESTMENT & HEDGING)
BEST FX BANK FOR RETAIL CLIENTS (SHARIAH-COMPLIANT INVESTMENT STRUCTURES):
  1. Bank’s financials based on the latest full year results, based on your financial year. This should primarily include: Profit after Tax; ROE; CAR; Net Yield Margin (NYM); Current Account Saving Account (CASA); Non-Performing Financing (NPF); Coverage Ratio including Gross Impaired Financing (GIF) ratio and annualized credit cost ratio; – compared to your nearest competitors.
  2. Describe the bank’s FX vision and long-term strategy and how it views its market position versus its nearest competitor – in terms of: (I) market share; (II) cost ratio & (III) competitive pricing; (IV) product range.
  3. Please detail the range of Islamic FX & treasury products, services and solutions the bank offers such as Dual or Triple Currency Investment & Hedging for Corporates & FIs and Shariah-compliant investment structures for retail consumer banking clients, etc.,
  4. Percentage breakdown of where the profits come from split between corporate FX banking vs retail FX banking;
  5. In no more 200 words, describe how the bank’s e-banking FX platform (online & mobile), is superior than other local FX banks in your market;
  6. Cite three separate names of a SME, Corporate client & FI which has an impressive, dynamic and tactical hedging shariah-compliant FX strategy (This question forms part of a poll we are conducting. Your client, the SME, Corporate & FI receiving, most number of votes by the poll universe will be rated the winner.)
  7. What types of unique shariah-compliant products does the bank offer clients to fully hedge their cash flow mismatch, in light of regulatory constraints in certain ASEAN markets?
  8. The strength of your currency strategy, FX research, interest rates research and technical analysis team;
  9. What is the rank of your banking group vis-à-vis other banks in the country, by total assets (in local currency terms)?
  10. Testimonials from clients (optional); and
  11. Contact person for follow up questions: (Mobile + Email)
    BEST ISLAMIC ASSET & FUND MANAGER
    1. Please provide a brief overview of your range of shariah-compliant multi-currency, multi-asset, sukuk and equity products and innovative practices at the local asset manager.
    2. Cite the full name and net market return (latest 12 months) of your best shariah-compliant fund.
    3. Please provide the market return of a given fund that employs Best Risk-adjusted Returns (note: Funds that adhere to ESG or SRIs only). Please provide supporting data.
    4. Please cite the total number of shariah-compliant Private Institutional Funds you manage. Please provide supporting data.
    5. Please specify total shariah-compliant assets under management, as of 30 April 2026 (or earlier). Please also detail percentage changes from previous year.
    6. Please detail market share (in percentage terms) in both the institutional asset management space (shariah-compliant) as well as the retail asset management space (shariah-compliant); Please provide supporting data.
    7. In no more 200 words, describe how your online & mobile platform, is superior than other local shariah-compliant asset management companies in your market;
    8. Testimonials from clients (optional); and
    9. Contact person for follow up questions: (Mobile + Email)

    IMPORTANT:

    In your submission, please clearly state:

     FEBRUARY 2025FEBRUARY 2026
    Total (AUM):  
    Net Asset Value (NAV):  
    1. With enhanced volatility, market uncertainty and record redemptions worldwide last year, what is the liquidity position at your fund house?
    2. Please detail your online investment platform, in terms of scale and usage for the funds within your product suite?

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