Winners announced at 11th Islamic Business & Finance Awards

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Dubai—The winners of the 11th Islamic Business & Finance Awards were announced at a gala dinner held at here, Dubai, attended by some 200 Islamic bankers and financiers from around the world. A total of nearly 28,000 votes were cast across 49 voted-for categories in the online poll held on www.cpifinancial.net
The top Award, for Best Islamic Bank, once again went to Dubai Islamic Bank (DIB), based on analysis of the bank’s audited financial statements as published in the annual Islamic Business & Finance supplement Leaders in Islamic Finance, which was released in conjunction with the Awards.
DIB’s CEO, Dr. Adnan Chilwan, was named Banker of the Year. In a challenging economic climate, Dr. Chilwan has guided his institution through continued success, with his institution maintaining its place as the leading performer in the UAE financial sector over the last three years. DIB has also maintained top spot on the annual Islamic Business & Finance Top 100 Shari’ah-Compliant Institutions list for the last two years. DIB has seen its market share cross over six per cent, with its financing book nearly doubling and deposits growing by 60 per cent over the last two and a half years. DIB also joined the exclusive $1 billion profit club in the UAE, with a 100 per cent growth in profits in that same period. DIB also won Best Corporate Bank – UAE, Best Retail Bank – UAE, and Best Sukuk Arranger.
Hisham Al Rayes, Chief Executive Officer, GFH Financial Group, was named Investment Banker of the Year. His institution also took home the Award for Best Investment Institution – Bahrain. With a commitment to innovation, Al Rayes was honoured for his forward-thinking leadership in Shari’ah compliant investment, and his institution’s impressive financial results in light of 2016’s volatility.
The Islamic Business & Finance Awards programme, partnered by the Dubai International Financial Centre, once again honouring winners from Africa, Asia and the Middle East, is designed to highlight, encourage and reward the exceptional performance and growth of the international Islamic business and finance community.
“In what is now our 11th year, the Awards continue to honour the outstanding players in the global Islamic finance industry. These winning institutions have found a way to navigate tricky economic waters on the road to sustained growth, and it is our privilege to recognise them for those achievements. Our winners represent the very best in Islamic finance, and each should feel proud of what they have accomplished. We look forward to what these exemplary institutions will do in 2017.” said Robin Amlôt, Chief Executive Officer of CPI Financial, publisher of Islamic Business & Finance.—Agencies