The 9th Annual DS100 ranking continues to benchmark the corporate environment of the 57 OIC* (Organization of Islamic Conference) member countries.   With USD 1.76 trillion in total revenues, the 2012 DS100 list of companies recorded a 28% overall growth in annual revenue over the previous reporting period. Comparatively DS100 company revenues are 10.5% of the $101.5 trillion in revenues of the global 100 companies (from Fortune magazine’s 2012 Global 500 list.)

(View Presentation here.  2016 DS100 Ranking & Analysis to be added Dec 30th)

Select media coverage:   Economist_logo1       hurriyet_logo11       ArabNews

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The DS100 is compiled to benchmark the business profile of the OIC member countries corporations. It is not meant to be an investment advice and includes data compiled based on publicly available sources. DinarStandard cannot accept any responsibility for information that is inaccurate or out-of-date, nor can it accept responsibility for any ramifications that this may have for users of this website.

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The following is the criteria used to develop the DS100 – Top 100 Companies of the Muslim World list:

  • Only OIC(Organization of Islamic Conference) member country based, domestic (majority owned) businesses included
  • Subsidiaries of Foreign Companies not included
  • Top 100 Ranked by revenue in US$ for last available full End of Year financial (Unless noted otherwise)
  • For Banks- Interest and Non-Interest revenue; For Insurance Companies- Premium, annuity Income, Investment income, gains and losses, excludes deposits
  • In addition to the Publicly listed Companies, Private and Government held entities are also included
  • To truly reflect top businesses in the region, it was important to include Private and Government entities. It is recognized that this would leave open the possibility of many companies not included due to non-availability of public data. DinarStandard has made extensive attempts to make this list comprehensive. However, we recognize that we may have either missed some companies or the data was simply not available due to company policies not to disclose financial data. DS100 will reflect any updates in the Corrections section.
  • Holding Companies were included (For Holding Companies included, their subsidiaries were not included)
  • Central Banks and Sovereign Wealth Funds are not covered
  • Companies that are headquartered in Non-OIC countries but company majority operations in OIC country and shares held majority by OIC member country resident(s)

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  • For publicly listed companies Annual Reports or data posted by the Public markets were used. In other cases, various publicly available sources were used. These include sources such as Arab News, Hoovers.com, Forbes Magazine, Financial Times, Bloomberg, Dow Jones News Wires, Privatization Commissions, Chambers of Commerce, and Organizations such as OPEC. In addition many of the companies were contacted directly to verify the data.

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The purpose of the DS100 is to portray as close a picture as possible of the leading domestic business activities in the OIC (Organization of Islamic Conference) member countries while providing its corporate managers and strategists with a tool to benchmark trends and identify opportunities.

The DS100 aims to recognize companies that are leading the charge in the global competitive landscape and are making a significant impact on the well-being of their communities.  The ranking is based purely on the 2011 end-of-year annual revenue figures (as EOY 2012 data had not been released by most as yet).

The ranking continues to include government and private enterprises to reflect their disproportionately significance in the OIC member country economies.  Only those private and government enterprises are included for whom data could be estimated or verified through various media sources. Acquiring this verification continues to be a challenge, given limited financial disclosure practices. However, a visible positive trend towards better corporate governance, transparency practices, and privatization is facilitating a clearer view of the corporate environment in the DS100 focused markets.


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Please send an email to DS100 [@] dinarstandard.com for any errors/ correction requests or use the Contact Us form.



(View Presentation here.  2016 DS100 Ranking & Analysis to be added Dec 30th)

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