(Dubai – 14 December, 2011) – More than 250 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 yesterday’s prestigious annual Islamic Business & Finance Awards, where a total of 31 accolades were granted. Held at Emirates Towers hotel in Dubai, the gala ceremony celebrated achievement among top Islamic bankers, financiers and Islamic banking and finance institutions.
The headline award of Best Islamic Bank for 2011 was awarded to Abu Dhabi Islamic Bank, the bank had previously won this accolade in 2010. Never before has an institution won this award two years running. What’s more, in a unique double first for the Islamic Business & Finance Awards, ADIB’s CEO Tirad Mahmoud was named Islamic Banker of the Year 2011 – he had also won this award in 2010. This award has also never before been won by the same individual two years in a row.
The Islamic Business & Finance Awards running for its sixth year, is one of the most prominent events in the Gulf finance industry. The annual ceremony is designed to highlight, encourage and reward the exceptional performance and growth of the international Islamic business and finance community. These awards are now widely considered as a benchmark of excellence in the industry.
Eminent Shari’ah scholar Justice Muhammad Taqi Usmani was honoured with the Lifetime Achievement Award while, in another ‘first’ for the awards, the Outstanding Contribution Award went not to an individual but, for the first time, to an institution – Bursa Malaysia – reflecting the Malaysian stock market’s pre-eminent position in Sukuk issuance. 2011 has already been written into the record books with more Sukuk, worth a total of some $79.5 billion, issued in the first eleven months than in any previous year as a whole.
Short-lists in a total of 28 corporate categories were compiled by an international panel of judges and offered to voters to determine the winners amongst the top institutions, while the individual categories were ‘write-ins’.
“Islamic finance continues to display dynamic growth and is proving to be an increasingly popular alternative. We are proud to honour the industry’s top achievers from around the region and around the world,” says Abdulla Al Mansoori, 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 the website www.cpifinancial.net.
Robin Amlôt, Managing Editor of CPI Financial said, “It has certainly been a year for the record books in Islamic finance – the industry passed the trillion-dollar mark by value. It has also been a record-breaking year for Sukuk issuance. We congratulate all our winners and look forward to another year of successful growth to come.”
A full list of the Islamic Business & Finance Awards 2011 winners follows:
Best Branding: Ajman Bank UAE
Best Advisory Firm: Ernst & Young Bahrain
Best Law Firm: Al Tamimi & Company UAE
Best Technology Provider: International Turnkey Systems – ITS Kuwait
Best Training Institution: Bahrain Institute of Banking & Finance Bahrain
Best Research: RAM Rating Services Malaysia
Best Wealth Manager: Bank Sarasin-Alpen UAE
Best Asset Manager: NCB Capital Saudi Arabia
Best Fund Manager: NCB Capital Saudi Arabia
Best Sukuk Arranger: Gulf International Bank Bahrain
Best ReTakaful Operator: Hannover Re Takaful Bahrain
Best New Bank: Maldives Islamic Bank Maldives
Best New Takaful Operator: Great Eastern Takaful Malaysia
Best Private Bank: ABSA Private Islamic Banking South Africa
Best International Bank: HSBC Amanah International
Best Islamic Window: Mashreq Al Islami UAE
Best Takaful Operator (Asia): ETIQA Insurance & Takaful Malaysia
Best Retail Bank (Asia): Maybank Islamic Malaysia
Best Investment Bank (Asia): KFH Malaysia Malaysia
Best Wholesale Bank (Asia): CIMB Islamic Malaysia
Best Takaful Operator (MENA non-GCC): First Insurance Company Jordan
Best Retail Bank (MENA non-GCC): BLOM Development Bank Lebanon
Best Wholesale Bank (MENA non-GCC): BLOM Development Bank Lebanon
Best Takaful Operator (GCC): Noor Takaful UAE
Best Retail Bank (GCC): Al Hilal Bank UAE
Best Investment Bank (GCC): Qatar First Investment Bank Qatar
Best Wholesale Bank (GCC): Abu Dhabi Islamic Bank UAE
Best Bank: Abu Dhabi Islamic Bank UAE
Outstanding Contribution: Bursa Malaysia, Malaysia
Lifetime Achievement: Mufti Muhammad Taqi Usmani, Pakistan
Banker of the Year: Tirad Mahmoud, UAE