WIBC Leaderboard 2015: Leading Islamic Banks represented in the Levant Financial Disclosure Index rankings

Türkiye Finans Katilim Bankasi and Jordan Islamic Bank lead Islamic Financial Disclosure Index Rankings in the Levant The conveners of the 22nd annual World Islamic Banking Conference (WIBC) revealed today the ranking of the Levant’s top 5 Islamic banks rated according to their financial disclosure, subsequent to the announcement of the launch of the WIBC Leaderboard. As per the rankings, Turkey-based Türkiye Finans Katilim Bankasi and Jordan-based Jordan Islamic Bank are positioned at the top of Islamic financial institutions in the Levant with a score of 58 and 56 respectively. Middle East Global Advisors, the organisers of the WIBC for the past 22 years, utilizes the Financial Disclosure Index as one of the sub-indicators of the WIBC Leaderboard, an industry benchmark that will form the basis of the WIBC Performance Awards 2015. The Ceremony for the Awards will be held at the Gala Dinner of the 22nd Annual World Islamic Banking Conference which is taking place on the 1st, 2nd and 3rd December at Gulf Hotel Bahrain. The financial disclosure rating measures the extent to which customers and stakeholders are protected through disclosure of ownership and financial information. The index ranges from 0 to 100, with higher values indicating more disclosure. First in the series of the WIBC Leaderboard performance indicators, the Financial Disclosure Index chart shows the bank’s name (horizontal axis) and Financial Disclosure Index score (vertical axis) of the top 5 Islamic banks in the Levant region ranked on the basis of financial disclosure score. Top 5 Islamic Banks in the Levant according to the Financial Disclosure Index Name of Financial Institution Country Score Türkiye Finans Katilim Bankasi Turkey 58 Jordan Dubai Islamic Bank Jordan 56 Jordan Islamic Bank Jordan 51 Al Baraka Bank Egypt 44 Kuwait Turkish Participation Bank Turkey 43 Source: ICD Thomson Reuters Islamic Finance Development Indicator Global Rankings In response to the ranking of his bank, Al Baraka Bank’s Chairman, Adnan Ahmed Yousif- spoke on the importance of having a transparent and well-disclosed banking sector, stating: “the banking sector has deep-rooted benefits in promoting financial stability via increased transparency and appropriate disclosures.” He further elobaorates that, “It is important to understand that increased globalization has been the basis of a highly interrelated economic and financial system. In such a scenario the risks of the unknown and unexpected are fairly high and the only way to downplay such risks is through appropriate disclosure of important information.” “Islamic Banks,” Adnan continues, “are playing an important role in sustaining a healthy banking system as evident by high disclosure scores.” In a period of high information asymmetry where consumer interests are not wholly protected from spillovers and systemic risks, the financial disclosure index serves as an essential governance metric that can help regulators ensure that a stable and efficient banking system is in place. To find out more about the 22nd annual edition of WIBC, download the comprehensive brochure at wibc2015.com. - End - ABOUT MIDDLE EAST GLOBAL ADVISORS Connecting markets with intelligent insights & strategic execution since 1993. Middle East Global Advisors (MEGA) is the gateway connectivity and intelligence platform to opportunities in the rapidly developing economic region that stretches all the way from Morocco in the West to Indonesia in the East - The Middle East North Africa Southeast Asia (MENASEA) connection. We pride ourselves for being at the heart of these diverse markets for over 22 years. Visit us at meglobaladvisors.com

WIBC 2015