4. Kuwait Finance House (KFH)

Country: Kuwait
Acting Group CEO: Abdulwahab Iesa Alrushood
Market value: $40.3 billion

KFH was established as the first Islamic bank in Kuwait in 1977. Today, it operates in 12 countries, with more than 680 branches. In 2022, KFH acquired Ahli United Bank – Bahrain, which converted into a licensed Islamic Bank in December 2023. It also completed its merger with Ahli United Bank – Kuwait in February 2024. KFH launched a Shariah-compliant digital bank in Kuwait, Tam Digital Bank, in October 2023. The bank’s total assets stood at $123.9 billion in 2023, while its net profit increased by 55.3% to hit $2.2 billion. Kuwait Investment Authority owns 15.67% of the bank as of mid-March 2024.