- by Mufti Ismail Ebrahim Desai
- June 20, 2021
Dubai – Cambridge IF Analytica, a UK-based financial think tank, successfully concluded its 3rd Islamic Retail Banking Awards (IRBA) in Dubai on November 14, 2017. A large number of Islamic retail financial institutions participated in the Awards Ceremony. In a hall packed with the representatives of Islamic retail banks, regulators, Shari’a scholars, technology firms and consulting firms, Al Rajhi Bank of Saudi Arabia stood first in terms of the number of awards bagged by an individual Islamic bank. It was named the Strongest Islamic Retail Bank in Saudi Arabia, the GCC, the Middle East, Asia, and in the World. These five awards were received by Majid Al Rajhi, Head of Retail Banking. Akif Shaikh, Head of Consumer Business at Al Rajhi Bank, was named as the Islamic Retail Banker of the Year 2017. Other winners in the Strongest Islamic Retail Bank awards category included: (1) Dubai Islamic Bank, which was announced as the Strongest Islamic Retail Bank in the UAE; (2) Islami Bank Bangladesh Limited was named as the Strongest Islamic Retail Bank in South Asia and in Bangladesh; (3) Bank Nizwa was named as the Strongest Islamic Retail Bank in Oman; (4) Bank Syariah Mandiri received two awards for being the Strongest Islamic Retail Bank in Asia Pacific and in Indonesia.
Other winners included: (1) Iyad Asali, General Manager of Islamic International Arab Bank, who was named as IRBA CEO of the Year 2017; (2) Amer Bukvic, CEO of Bosna Bank International, who received IRBA Transformational Leader of the Year 2017; and (3) Dato’ Wan Fadzmi Wan Othman, former CEO of Agrobank Malaysia received the top award, namely, Islamic Retail Banking Leadership Awards 2017.
IRBA have been held in Dubai since 2015 to celebrate success of Islamic retail finance institutions. So far about 100 awards in different categories have been awarded, which are based a rigorous efficiency analysis conducted by Cambridge IF Analytica. “We are the only non-commercial Islamic retail banking awards in the world, determined purely on the basis of performance of the banks, products and individuals,” said Dr Sofiza Azmi, CEO of Cambridge IF Analytica.
“We are pleased on the recognition of our Arabi Islamic Installment Credit Cards that were presented with the Best Islamic Credit Card Award 2017,” said Iyad Asali, General Manager of Islamic International Arab Bank of Jordan.
HelloGold received the Best Islamic Cryptocurrency Award 2017, and OneGram was recognized as the Most Innovative Islamic Retail Banking Product. International Turnkey Systems (ITS) received the Best Islamic Retail Banking Solutions Provider 2017 award.
Other winners included Noor Bank, Sirat HabibMetro, Meethaq Islamic Banking (Bank Muscat), KFH-Bahrain, Al Salam Bank Bahrain, Bank Al Jazira, East Africa Bank, National Bonds of Dubai, and Habib Modaraba from Pakistan.
Mufti Khalid Hasani was named as the Upcoming Shari’a Scholar for the Year 2017. Adnan Fasih of Habib Bank AG Zurich was named as Upcoming Personality in Islamic Retail Banking.