Islamic Banking Award Winners Recognised at 15th WIBC

Al-Bawaba:The winners of the prestigious Islamic Banking Awards were recognised last evening at an impressive gala dinner ceremony as part of the 15th Annual World Islamic Banking Conference (WIBC 2008) held at the Gulf International Convention Centre, Kingdom of Bahrain. Six awards – based on select criteria assessed by the WIBC Awards Committee – were presented: two individual awards to Khalid Abdulla Janahi and Sheikh Saleh Kamel, and four corporate awards to Ernst &Young, Samba Financial Group, International Turnkey Systems Group and Kuwait Finance House - Bahrain.

Convened under the Patronage of HH The Prime Minister of the Kingdom of Bahrain and presented by Abdulrahman Al Baker Executive Director Financial Institution Supervision, of the Central Bank of Bahrain, the WIBC Awards are considered among the most prestigious in the world.

Islamic Banker of the Year went to Khalid Abdulla Janahi, CEO, Ithmaar Banking. The recipient of this prestigious award is selected by his industy peers, and the results are audited by Ernst & Young.

Industry Leadership Award was awarded to Sheikh Saleh Kamel, Chairman, Albaraka Banking Group, a key individual and industry pioneer who has demonstrated strong leadership qualities within the group and exerted a long-term and strategic impact on the Islamic banking and finance during decades of service.

Mr. Adnan Yousif, President & Chief Executive, Albaraka Banking Group accepted on behalf of Sheikh Saleh Kamel who sent his appreciation and said: “As one of the contributors to the growth of Islamic banking, I have seen the industry achieve significant success and develop from its early beginnings, and this recognition of my role in that growth is much appreciated.

I was delighted to be keynote speaker at the very first World Islamic Banking Conference way back in 1994 and it is confirmation of the value of WIBC that today, 15 years later, the conference has grown to such stature as a global gathering of the industry's leaders."

The Leading Islamic Financial Services Provider Award went to Ernst & Young - Bahrain in recognition of their role as an advisory firm that has excelled in the key performance criteria, including excellence in leadership and overall strategic direction of their Islamic banking & finance business.

Sameer Abdi, the Ernst & Young's Lead Partner for Islamic Advisory, headquartered in Bahrain, said: "Ernst & Young was the first of the ‘Big 4’ professional services firms to recognise Islamic finance, setting up a dedicated advisory group and contributing in so many ways to the growth of the industry.

We have worked with regulators, wholesale banks, retail banks and other financial Islamic financial institutions in established, developing and nascent Islamic marketplaces. This award is a fitting tribute to the work of our dedicated group of Islamic finance professionals across the globe."

The Institutional Excellence Award went to Samba Financial Group in recognition of excellence in key performance criteria, including leadership and overall strategic direction of their Islamic banking business. This award was accepted on behalf of Samba Group by Mr. Sohail Masood, Head of Islamic Banking.

Best Technology Solutions Provider, Islamic Banking Award went to International Turnkey Systems Group (ITS) for outstanding services as an IT firm that has excelled in leadership and overall strategic direction of their Islamic banking & finance business.

Khaled Faraj Alsaid, Managing Director & General Manager, ITS, said: “It is an honour to win this prestigious award, and we are proud of the Islamic Banking solutions that we develop which help our customers grow and access new markets. Rooted in our Islamic tradition and culture, we build solutions that for the first time allow financial organizations to define their Islamic instruments, products, workflow, documentations, approval cycle, based on their Sharia board’s concepts and approvals. We look forward to maintaining our leadership position in this field.”

Islamic Banking Retail Brand Award, given in collaboration with MTI Consulting, went to Kuwait Finance House – Bahrain for demonstrating the best performance in terms of growing retail banking, product development, branding, service and channel initiatives.

The ceremony was facilitated by Hisham Al Ayass, Senior Financial Markets Analyst & Presenter, CNBC Arabia News Channel and attracted international and regional industry leaders. More than 1,000 delegates from over 45 countries attended the 15th Anniversary WIBC, the world’s largest gathering of Islamic finance leaders.