Abu Dhabi Islamic Bank (ADIB), a top-tier Islamic financial services group, has been named the ‘Best Islamic Bank in the UAE’ for the second successive year by Islamic Finance News (IFN). In addition, ADIB won the ‘Best Syndicated Deal of the Year 2011’ for its leading role as a mandated lead arranger & Book runner in the innovatively structured deal of AED 250 million syndicated Islamic financing deal for the Emirates National Factory for Plastic Industries L.L.C. (ENPI). ADIB also won the ‘Best Turkey Deal of the Year 2011’ for its role as joint lead manager for the USD 350 million KT Sukuk Varlik Kiralama deal. In addition, ADIB won “Best Islamic Bank in Egypt” and “Best Islamic Private Bank” through National Bank for Development in Egypt that was acquired by ADIB in the last quarter of 2007. NBD is now offering a broad spectrum of Shari’a compliant banking products and solutions for large corporate as well as individuals along with renovating all its current branches across all governorates of Egypt competing at the highest levels in the Egyptian market.
Islamic Finance News awards are one of the leading awards in Islamic finance globally. They are based on a unique poll-based format in which nearly 3,000 votes were cast by leading practitioners and participants in the industry.
Commenting on ADIB’s latest awards, Tirad Mahmoud, CEO of ADIB said: “We are delighted that our contributions to the sustainable growth and development of the UAE banking sector and economy have been recognized with these awards. They are a result of ADIB’s strong financial fundamentals, and are deliberate customer-centric strategy.”
ADIB’s awards for “Best Islamic Bank in the UAE” and “Best Islamic Bank in Egypt” follows a number of another awards that the bank has recently picked up “The HRD Award” presented by Emirates Institute of Banking and Financial Studies (EIBFS), and the ‘Best Islamic Bank in the UAE’ awarded by EMEA Finance for the second year in a row. In addition, Forbes Middle East recently listed ADIB as the 8th ranked company in terms of performance in its recent study titled ‘Top 50 Companies in the UAE’; and the 10th ranked company by performance by Arabian Business “UAE’s Top 50 Companies” report – further testament to ADIB’s position as a leading financial institution in the region.