The suspense within the Islamic finance industry eased last week when winners of the international Islamic Business & Finance Awards were announced at a ceremony in Dubai. Following an overwhelming response in online votes and careful analysis of entries, the Awards ceremony brought together 250 industry professionals from the Gulf region and beyond, to celebrate corporate and individual excellence in the industry.
While international organisations and individuals managed to scoop three of the seventeen prizes, it was the Gulf-based institutions that dominated the overall awards.
The top prize of ‘Best Islamic Bank’ went to Dubai Islamic Bank. In addition, individual prizes were awarded to exceptional finance professionals whose efforts have paved the way for successful Islamic finance. The title of ‘Islamic Banker of the Year’ was awarded to Badlisyah Abdul Ghani from Malaysia, while Adnan Abdulqader Al Mussallam from Kuwait was honoured with a ‘Lifetime Achievement Award’ and Bahrain’s Majid Al Sayed Bader Al-Refai with recognition for ‘Outstanding Contribution to the Industry’.The annual awards, running for the second year, are currently the recognised Industry Awards event across the globe, and are hosted in a different country of the GCC and other Islamic finance capitals every year.
“With all eyes now on the Islamic finance industry due its constant solid performance and its promise of stability and success, it has become vital to have performance benchmarks for this industry,” says Paul McNamara, Managing Editor and Associate Publisher of CPI Financial, which publishes Islamic Business & Finance magazine and organizes the industry Awards.
“Encouraging competition and awarding recognition can only help to spur greater interest and development. This year’s response to the Awards is an excellent example of what has become an increasingly vibrant, mainstream and global industry with a lot of clout and even greater potential.”
The Islamic Business & Finance Awards were launched in response to the phenomenal growth of the Islamic finance industry, currently estimated at $500 billion. Readers of Islamic Business & Finance magazine from across the world cast their votes for winners from a shortlist created by a judging panel of rating and consulting organisations. More information on the Awards is available on www.cpifinancial.net.
The complete list of winners is as follows:
– Best Islamic Bank – Dubai Islamic Bank
– Best Islamic Retail Bank – CIMB Islamic
– Best Islamic Investment Bank – Gulf Finance House
– Best Islamic Investment House – Investment Dar
– Best Islamic Mortgage Provider – Amlak Finance
– Best New Product – Kuwait Finance House (Bahrain)
– Best Takaful Operator – FWU Group
– Best Islamic Finance Advisory Firm – Yasaar Limited
– Best Islamic Finance Law Firm – Norton Rose
– Best Islamic Corporate Finance – Doha Islamic
– Best Islamic Finance Wealth Management Firm – Dubai Islamic Bank
– Best Advertising/ Marketing Campaign – QIB
– Best New Islamic Bank – Masraf Al Rayan
– Best Re-Branding of an Islamic Bank – QIB
– Islamic Banker of the Year – Badlisyah Abdul Ghani
– Lifetime Achievement Award – Adnan Abdulqader Al Mussallam
– Outstanding Contribution to the Industry – Majid Al Sayed Bader Al-Refai