Dubai- Cambridge IF Analytica, a UK-based financial services think tank held its 2nd Islamic Retail Banking Awards (IRBA) at Dusit Thani Hotel, Dubai last night. A large number of Islamic retail bankers from around the world participated in the prestigious awards ceremony. Most notable participating Islamic bankers included Adnan Yousif (Group CEO and President of Al Baraka Banking Group), Musa Shihadeh (General Manager & CEO of Jordan Islamic Bank), Dr. Yahia Abdul-Rehman (Founder and CEO of LARIBA American Finance House Bank of Whittier), and Amer Khalil ur Rehman (CEO of Bakhtar Bank Afghanistan). Amongst the distinguished guests that attended the Awards Ceremony were Husin Bagis (Ambassador of Indonesia in the UAE), Paul Fox (the British Counsel General in Dubai), Yubazlan Yusof (Counsel General of Malaysia in the UAE), Khalid Alyahmadi (CEO of Muscat National Development and Investment Company, and Chairman of Salam Air) and Dr Abdelilah Belatik (Secretary General of CIBAFI).
The top institutional award – The Strongest Islamic Retail Banking Group in the World for 2016 – was won by Al Baraka Banking Group, and was received by Adnan Yousif (Group CEO and President of Al Baraka Banking Group). The top individual award – Islamic Retail Banking Leadership Award 2016 – was presented to Musa Shihadeh (General Manager & CEO of Jordan Islamic Bank) for his relentless efforts to promote Islamic retail banking in Jordan. In total, there were three awards won by the institutions in the wider Al Baraka Banking Group. “This is a huge and well-deserved recognition of the Al Baraka Banking Group for playing a lead role in developing Islamic banking and finance in general and Islamic retail banking in particular,” said Professor Humayon Dar, Founder and Chairman of IRBA.
“At Cambridge IF Analytica, we conduct academically rigorous Islamic financial applied research to ensure that only best of the best institutions with sustainable and long-term performance are highlighted,” said Dr Sofiza Azmi, CEO of Cambridge IF Analytica. Professor Nabil Baydun, Vice Chancellor of Hamdan Bin Mohamed Smart University, echoed Dr Azmi’s views. “Our efficiency ranking is very unique, as it takes into account the special features of Islamic banks and puts them in perspective of fiercely competitive financial markets dominated by conventional financial institutions.”
30 awards in total were given out last night to Islamic banks from the USA, Africa, the Middle East and Asia. The awards are divided into: Strongest Islamic Retail Banks, and the Critics’ Choice Awards. The following awards were presented to the institutions in the Strongest Islamic Retail Banks category:
Strongest Islamic Retail Cooperative Financial Institution: Bank Rakyat Malaysia
Strongest Islamic Retail Bank in the GCC: Dubai Islamic Bank
Strongest Islamic Retail Bank in South Asia and Bangladesh: Islami Bank Bangladesh Limited
Strongest Islamic Retail Bank in Indonesia: Bank Syariah Mandiri
Strongest Islamic Retail Bank in Kenya: Gulf African Bank
Strongest Islamic Retail Bank in Jordan: Jordan Islamic Bank
Strongest Islamic Retail Bank in Oman: Bank Nizwa
The institutions receiving the Critics’ Choice Awards included: (1) Agrobank from Malaysia, FNB Islamic from South Africa, Banque Saudi Fransi from Saudi Arabia, Bank of Khartoum from Sudan, National Bonds from the UAE, Bank Islam Malaysia, Jaiz Bank from Nigeria, Bakhtar Bank from Afghanistan, Ajman Bank and Noor Bank from the UAE, LARIBA American Finance House Bank of Whittier from the USA, MIT Global from the UAE, Bank Alfalah Islamic Banking, Hamdan Bin Mohamed Smart University from Dubai, Meethaq Islamic Banking at Bank Muscat and QIIB from Qatar.
There were four individual awards: Islamic Retail Banking Leadership Award was presented to Musa Shihadeh, CEO of Jordan Islamic Bank. IRBA Excellence Award for Advocacy was given to Dr. Yahia Abdul-Rehman of LARIBA. Rizwan Ata was adjudged as the Upcoming Personality in Islamic Retail Banking for 2016. Dr. Abdulbari Mashal was recognized as Upcoming Shari’a Scholar, and Kashif Naeem of Bank of Khartoum was honoured with the Islamic Retail Banker of the Year award.
© Press Release 2016
