Abu Dhabi Islamic Bank (ADIB), a top-tier Islamic financial services group, has been named ‘Best Islamic Bank in the UAE’ at the Global Finance Awards for the world’s best Islamic financial institutions held at the National Press Club in Washington DC.
Through its awards Global Finance Magazine provides benchmarks for successful financial institutions. ADIB was again selected, after winning the award in previous years, for its contribution to the growth of Islamic finance and for successfully meeting its customers’ needs for Shari’a-compliant products. The editors of the magazine undertake in depth consultations with bankers, corporate finance executives and analysts throughout the world in making their final decisions on the winners of these awards.
The criteria for selection include growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products. Subjective criteria include opinions of equity analysts, the banking consultants and the banking industry.
Commenting on the Global Finance award, Tirad Al Mahmoud, CEO of ADIB, said: “To win a recognised industry award such as this is very important to ADIB as it validates the work we do to raise the standards of Islamic finance. We have made great progress in recent years in customer service, and we have also put ethics at the heart of what we do. This has resulted into rapid customer growth, and we believe we can expand further as people who have not necessarily been drawn to Islamic banking look to ADIB purely for our approach to banking.”
ADIB is among the fastest growing Islamic banks in the region which has so far won various industry awards including the best Islamic bank in the world by IFN Magazine.