UAE walks away with 11 Awards
(Dubai - 21 December, 2010) - Close to 300 distinguished regional and global industry professionals from around the world joined together in honouring the outstanding performance of leading Islamic financial institutions and individuals at the prestigious Annual Islamic Business & Finance Awards, where a total of 30 accolades were granted.
Held at Emirates Towers hotel in Dubai, the Awards ceremony celebrated achievement among top Islamic bankers, financiers and Islamic banking and finance institutions. Once again this year, Gulf-based institutions and individuals were able to compete head-to-head with their international peers, taking home more two thirds of the awards. Other winners were drawn from the United Kingdom, USA, Malaysia, Luxembourg, and Sudan.
The Islamic Business & Finance Awards running for its fifth year, is considered to be one of the most prominent events in the finance industry throughout the Gulf region.
The annual ceremony was designed to highlight, encourage and reward the exceptional performance and growth of the Islamic business and finance community. These awards are now widely considered as a benchmark of excellence in the industry.
The top prize of 'Best Islamic Bank' went to Abu Dhabi Islamic Bank. In addition, individual prizes were awarded to finance professionals whose outstanding contributions have led to the exceptional growth of this sector, even during one of the most challenging periods in the history of banking and finance. Tan Sri Dato' Sri Dr. Zeti Akhtar Aziz, Governor of Bank Negara Malaysia, was honored with the 'Lifetime Achievement Award,' while the 'Outstanding Contribution Award' was given to Professor Datuk Rifaat Ahmed Abdel Karim, Secretary General of Islamic Services Board from Sudan. Tirad M. Mahmoud, Chief Executive Officer of Abu Dhabi Islamic Bank, was named the 'Islamic Banker of the Year.'
The corporate categories short-list was compiled by an international panel of judges and given to voters to determine the winners amongst the top institutions, while the individual categories were 'write-ins' in which members of the global Islamic financial services industry nominated and recognized those individuals worthy of the awards.
"The growing trend of the global Islamic finance industry is reflected in the high level of competition for these awards. We are pleased to see the development in this sector and are proud in honouring the top achievers within the industry," says Dominic De Sousa, Chairman of CPI Financial.
Nominees for the awards were short listed from hundreds of top Islamic Institutions and professionals. Tens of thousands of votes were cast by the readers of Islamic Business & Finance and the registered users of www.cpifinancial.net.
Robin Amlôt, Managing Editor of CPI Financial said, "Over the years, we have watched the Islamic finance industry flourish and develop, with an abundance of countries turning to this alternative to the conventional finance system for greater benefits. The progress of the industry is reflected annually with the heightened interest in the Islamic Business & Finance Awards, showing a record number of top performing institutions and individuals, as well as a greater number of online votes."
The overwhelming nominations for the individual and corporate categories have been carefully analyzed, with the results determining those who projected Islamic finance best practices. In addition to winning 'Best Islamic Bank', nine UAE Islamic institutions also received accolades: Mashreq Al Islami was awarded 'Best Advertising Campaign' and 'Best Islamic Window', Abu Dhabi Islamic Bank won 'Best Islamic Branding', Noor Takaful was recognized for 'Best Use of Technology', Dubai Islamic Bank (Al Islami Salam Finance) won 'Best New Product', National Bonds was recognized for 'Best Retail Product', Takaful Re was honoured for 'Best ReTakaful Operator', Al Hilal Bank was named 'Best Retail Bank', and Ajman Bank won 'Best Domestic Bank'.
|Following is the full list of the winners:|
|Best Advertising Campaign||Mashreq Al Islami-UAE|
|Best Islamic Branding||Abu Dhabi Islamic Bank-UAE|
|Best Islamic Research||Ernst & Young (Islamic Financial Services Group)-Bahrain|
|Best Advisory Firm||Ernst & Young (Islamic Financial Services Group)-Bahrain|
|Best Index Provider||Dow Jones Islamic Market Indexes-USA|
|Best Law Firm||King & Spalding-UK|
|Best Training Institution||Bahrain Institute of Banking and Finance- Bahrain|
|Best Use of Technology||Noor Takaful- UAE|
|Best New Product||Dubai Islamic Bank [Al Islami Salam Finance]- UAE|
|Best Retail Product||National Bonds- UAE|
|Best Investment Product||Kuwait Finance House-Bahrain|
|Best BancaTakaful Operator||FWU Group- Luxembourg|
|Best Takaful Operator||t'azur- Bahrain|
|Best ReTakaful Operator||Takaful Re- UAE|
|Best Islamic Window||Mashreq Al Islami- UAE|
|Best Sukuk Manager||HSBC Amanah- Bahrain|
|Best Asset Manager||NCB Capital- KSA|
|Best Fund Manager||HSBC Amanah- Bahrain|
|Best Wealth Manager||The National Commercial Bank- KSA|
|Best Investment Bank||Kuwait Finance House- Kuwait|
|Best Private Bank||Citi- Bahrain|
|Best Retail Bank||al hilal bank- UAE|
|Best Commercial Bank||CIMB Islamic- Malaysia|
|Best Domestic Bank||Ajman Bank- UAE|
|Best Regional Bank||Al Baraka Banking Group- Bahrain|
|Best International Bank||Standard Chartered Saadiq- Malaysia|
|Islamic Banker of the Year||Tirad M. Mahmoud- Chief Executive Officer, Abu Dhabi Islamic Bank-UAE|
|Outstanding Contribution||Professor Datuk Rifaat Ahmed Abdel Karim, Secretary General, Islamic Financial Services Board- Sudan|
|Lifetime Achievement||Tan Sri Dato' Sri Dr. Zeti Akhtar Aziz, Governor, Bank Negara Malaysia Malaysia|
|Best Islamic Bank||Abu Dhabi Islamic Bank- UAE|