49. Emirates Islamic

Country: U.A.E.
Sector: Banks & Financial Services
CEO: Farid Al Mulla
Market Value: $9.8 billion
Sales: $1.7 billion
Profits: $578 million
Assets: $23.9 billion

Emirates Islamic, formerly Middle East Bank, was incorporated in 1975 and converted to Islamic banking in 2004. Emirates Islamic is a subsidiary of Emirates NBD, which owns 99.9% of the bank. Emirates Islamic now operates through 40 branches in the U.A.E. In April 2024, Emirates Islamic closed a $500 million Shariah-compliant financing facility to further strengthen the bank’s balance sheet and support its growth ambitions.