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The Financial Express

UCB, Mercantile win plaudits for best Islamic banking practice

| Updated: January 18, 2021 13:10:48


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UCB, Mercantile win plaudits for best Islamic banking practice

Two Bangladeshi private banks have secured the second and third place in the best new Islamic banks for 2020, according to a Malaysian poll.

The poll conducted by Islamic Finance News (IFN) of RED money Group Malaysia held on Thursday.

The United Commercial Bank (UCB Taqwa) secured the second spot while the third place went to Mercantile Bank (Islamic Banking).

Asia Alliance Bank of Uzbekistan became the best new Islamic bank for 2020.

IFN best banks poll 2020 has 44 categories and it is the 16th year for such a poll.

But it launched the new Islamic bank category in 2018. Al Taif Islamic Investment and Finance Bank of Iraq was ranked as the best in 2019.

To qualify for the best banks' poll, a market must have at least three operational banks.

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