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NEW YORK, April 8, 2015 - Global Finance magazine has announced its eighth annual awards for the World’s Best Islamic Financial Institutions. A full report on the selections will appear in the June issue of Global Finance and online at GFMag.com. The winners of this year’s awards are those banks that contributed to the growth of Islamic financing and successfully met their customers’ needs for Shariah-compliant products, while creating the foundation for continued growth and safety in the future, with modern and efficient delivery channels.
All selections were made by the editorial team of Global Finance, after extensive consultations with bankers, corporate finance executives and analysts throughout the world. In selecting these top banks, factors that range from the quantitative objective to the informed subjective were considered. Quantitative criteria included growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products. Among the subjective criteria considered were reputation, customer satisfaction, and the opinions of analysts and others involved in the industry. The mix of these factors yields leading banks that may not be the largest, oldest or the most diversified in a given country, region or product, but rather the best—the banks with which customers around the world would most likely want to do business.
“The range of Islamic finance products and structures is growing, providing greater opportunities for global participation in the market and use of shariah-compliant funding mechanisms,” says Global Finance publisher and editorial director Joseph D. Giarraputo. “The winning firms in our annual awards provide the safety and security that is essential to users of shariah- compliant products while creating new and innovative structures that accord with the rules of Islamic finance.”
GLOBAL WINNERS |
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Best Sukuk Bank | CIMB Islamic Bank Berhad |
Best Islamic Retail Bank | Maybank Islamic Berhad |
Best Islamic Private Bank | NCB |
Best Islamic Investment Bank | CIMB Islamic Bank Berhad |
Best Islamic Custodian | Deutsche Bank |
Best Takaful (Insurance) Provider | Etiqa Takaful Berhad |
Best Retakaful Provider | Swiss Re Retakaful |
Most Innovative Institution | Noor Bank |
Most Innovative New Structure | Islamic Bank of Asia |
Best Asset Management Company | CIMB Principal Islamic Asset Management |
Best Shariah-Compliant Index Provider | Thomson Reuters IdealRatings Islamic Indices |
Best Law Firm with Islamic Services | Allen & Overy |
Best Islamic Project Finance Provider | NCB |
Best Islamic Commodities Provider | Dubai Multi Commodities Centre |
Best Islamic Real Estate Finance Provider | Qinvest |
Best Islamic Fund Manager | Al Rajhi Capital |
Best Up-and-Comer | Itqan Capital |
Islamic Finance Deal of the Year | International Finance Facility for Immunisation (IFFIm) $500 million sukuk, the proceeds of which were used to to buy vaccines. |
REGIONAL WINNERS |
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Gulf Cooperation Council (GCC) | Kuwait Finance House |
Non-GCC Middle East/North Africa | Al Baraka Bank |
Asia-Pacific | Maybank Islamic Berhad |
Europe | Bank of London and the Middle East |
COUNTRY WINNERS |
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Afghanistan | Afghan United Bank |
Algeria | Banque Albaraka D’Algérie |
Azerbaijan | Kauthar Bank |
Bahrain | Al Baraka Islamic Bank Bahrain |
Bangladesh | Islami Bank Bangladesh |
Brunei | Bank Islam Brunei Darussalam |
Egypt | Al Baraka Egypt |
Gambia | The Arab Gambian Islamic Bank |
Indonesia | Bank Muamalat Indonesia |
Jordan | Jordan Islamic Bank |
Kazakhstan | Al Hilal Islamic Bank |
Kenya | Gulf African Bank |
Kuwait | Boubyan Bank |
Lebanon | BLOM Development Bank |
Malaysia | Maybank Islamic Berhad |
Mauritania | Banque Al-Wava Mauritanienne Islamique |
Morocco | Attijariwafa Bank |
Nigeria | Jaiz Bank |
Oman | BankMuscat Meethaq |
Pakistan | Meezan Bank |
Palestine | Palestine Islamic Bank |
Qatar | Barwa Bank |
Saudi Arabia | NCB |
Senegal | Banque Islamique du Senegal |
Singapore | Maybank Singapore Islamic Banking |
South Africa | FNB Islamic |
Sri Lanka | Amãna Bank |
Syria | Al Baraka Syria |
Turkey | Kuveyt Türk |
Thailand | Islamic Bank of Thailand |
UAE | Al Hilal Bank |
United Kingdom | Al Rayan Bank |
United States | American Finance House Lariba |
Yemen | Tadhamon International Islamic Bank |
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