ADCB Islamic Banking was named the “Most Improved Islamic Bank in the UAE” by the Global Islamic Finance Awards (GIFA) committee at a recent ceremony in Muscat.
Keynote speaker Abdullah Badawi, former prime minister of Malaysia at the Oman Islamic Economic Forum (OIEF), presented the award to ADCB Islamic Banking.
Amr Al-Menhali, head of ADCB Islamic Banking, said the award recognizes the ADCB’s leading position and its success in raising the benchmark for Islamic banking in the region.
ADCB Islamic Banking offers a complete suite of Shariah-compliant products specifically designed to cater to the needs of consumers that are key to the health of the UAE economy.
This recognition is subsequent to the milestone ADCB Islamic Banking has achieved, which was acknowledged by the reputed worldwide Shariah governing body in an appreciation letter positioning ADCB Islamic Banking as a role model for Islamic Banks worldwide, said Al-Menhali.
The OIEF assembles a diverse number of financial practitioners, academicians, business leaders and policy makers in the industry.
The forum addressed issues including the regulatory challenges facing Islamic banking, the practice of socially responsible Islamic finance and the need for utilization of Islamic banking as a tool for global economic reform.
The forum, endorsed by the Fatwa office of the Ministry of Awqaf and Religious Affairs, has received support from an array of leading financial institutions from the GCC, Canada, UK, Luxembourg and Malaysia.