Dubai – Mubasher: Four UAE Islamic banks obtained top ranks in the top 15 most cost-efficient Islamic banks list, according to an annual report issued by the Dubai Islamic Economy Development Centre (DIEDC) on Wednesday.

Dubai Islamic Bank (DIB) ranked fifth place in the list which includes 131 Islamic banks operating globally, while Abu Dhabi Islamic Bank (ADIB), Al Hilal Bank and Sharjah Islamic Bank took the 7th, 12th and 15th places respectively.

GCC Islamic banks acquired 29 positions in the top 50 list, according to the report released during the third Global Islamic Economy Summit in Dubai.

The Kuwait Finance House (KFH) received the highest efficiency score among the 131 banks, followed by Saudi’s Al Inma Bank which topped the most cost-efficient Islamic banks in the world.