Category Archives: Awards

Dow Jones indexes named best Shari’ah-compliant index provider

Dow Jones indexes named best Shari’ah-compliant index provider

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Dow Jones Indexes, a leading global index provider, today announced that it has been named “Best Shari’ah-Compliant Index Provider” by Global Finance magazine for the second consecutive year.

The Global Finance awards for World’s Best Islamic Financial Institutions honor those financial institutions that make significant contributions to the growth of Islamic finance and successfully meet their clients’ needs for Shari’ah-compliant products, while creating the foundation for continued fast growth in the future.

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KPMG: Best Islamic Assurance and Advisory Services Provider

KPMG: Best Islamic Assurance and Advisory Services Provider

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KPMG firms were named Best Islamic Assurance and Advisory Services Provider for the second year in a row at the 2009 Euromoney Islamic Finance Awards ceremony in London.

Now in its seventh year, the awards are regarded by many in the sector as the benchmark awards for the global Islamic finance industry.

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London Sukuk Summit: 2008 London Sukuk Summit Awards Honour Islamic Bankers Past and Present

London Sukuk Summit: 2008 London Sukuk Summit Awards Honour Islamic Bankers Past and Present

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The Second Annual London Sukuk Summit Awards of Excellence last night honoured a host of regulators and bankers who have contributed much to the Islamic banking and finance movement over the last three decades.

The Awards ceremony was held during the Gala Dinner at the Royal Horseguards Hotel in Whitehall following the opening day of the 2008 London Sukuk Summit based on the theme ‘Gearing Up for UK Sukuk Originations’. The Summit is endorsed by the UK Treasury; UK Trade & Investment (UKTI), City of London Corporation; and the London Stock Exchange.

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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.

Standard and Poor’s voted best Islamic rating agency

Standard and Poor’s voted best Islamic rating agency

Islamic Finance News (IFN) annual reader survey voted Standard and Poor’s (S&P) the best Islamic rating agency, recognising the firm’s commitment to fostering the development of Islamic capital markets and their integration with global markets, Bahrain Tribune reported.

The survey by the world’s leading capital markets-focused Islamic-finance publication, recognised S&P in other award categories for its work assigning ratings on sukuk issues by DIFC Investments LLC and the Jebel Ali Free Zone which were named deal of the year and best sukuk, respectively.

It is worth mentioning that S&P opened a new office in Dubai, serving as a window through which Middle East companies can access international capital markets and through which international investors can gain insight into Islamic investment risks and opportunities.

Islamic finance experienced another breakthrough year in 2007 with the value of Shari’a-compliant assets worldwide estimated to have surpassed the $500 billion mark for the first time.

S&P is also the leading rating agency for Islamic insurers, with more credit ratings on takaful and retakaful firms in Africa, Asia and Middle East, more than any other provider.