In this paper, we propose an empirical hybrid approach for measuring the performance of Islamic banks in MENA region by combination of four techniques including CAMEL, Grey Relation, fuzzy ANP, and FARAS during two three-year periods (from 2014 to 2019). Our findings that also considered as our contributions are as follows: firstly, this approach excludes indicators that overlap each other from the evaluation process (parsimony). secondly, it prevents the removal of important indicators (generosity). Thirdly, we have compared three most popular MCDM techniques and have shown which ones give us the best ranking results. Finally, we also improve the application of CAMEL model. پرونده مقاله