KPMG wins top Euromoney Islamic Finance award

KPMG wins top Euromoney Islamic Finance award

KPMG recently nabbed the top prize at the 2008 Euromoney Islamic Finance Awards ceremony in London, UK.

‘KPMG’s breadth of assignments and the diverse geographic spread of their business was very impressive and was a key factor in selecting the company for the award,’ the Magazine said.

‘KPMG’s assignments span Europe, the Middle East, Asia and Africa and it is well positioned to work with its clients as Islamic finance expands globally.’

Over the last year, KPMG member firms have provided assurance and advisory services to over 50 Islamic financial institutions in the UK and Western Europe, the GCC, the Far East, North America and Africa.

This work includes services undertaken on behalf of ventures looking to bring Islamic finance into new markets, national financial regulators exploring Islamic finance for the first time, and the conversion of a conventional bank to a stand-alone Islamic bank.

In addition, KPMG is a member of the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI) and the Islamic Financial Services Board (IFSB).

KPMG LLP Global Chairman of Financial Services Brendan Nelson said, ‘2008 promises to be an exciting year for Islamic finance as the industry becomes more competitive and continues to look for new growth opportunities globally. With appropriate support, we believe this industry will continue to thrive.

‘KPMG has a long track record of working in the global Islamic Finance sector and we are delighted to receive this award as we believe it serves to further highlight our commitment to this space.

Meanwhile, European Head of Financial Services, Jeremy Anderson, said ‘Through intense focus on our clients’ business objectives, and a collaborative approach to implementation, we have been privileged to work alongside our clients as this fascinating market has expanded and matured.

‘We are now in a position of dominance in the UK in terms of our share in regulatory, tax and audit work for Islamic banks. We are pleased to accept this award as a testimony to our good work, which we will continue into the future.’

KPMG is the global network of professional services firms who provide audit, tax and advisory services. KPMG LLP operates from 22 offices across the UK with over 10,000 partners and staff.

KPMG in the UK recorded a turnover of 1.45 billion sterling pounds in the year ended September 2006. KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and a member firm of the KPMG network of independent member firms affiliated with KPMG International, a Swiss cooperative.