National Bank for Development named best Islamic bank in Egypt for 2011

As part of its ongoing progress, the National Bank for Development (NBD) in cooperation with Abu Dhabi Islamic Bank (ADIB) received “Best Islamic Bank in Egypt award” for the second consecutive year and for the first time it received “the Best Islamic Private Bank award” as a result of the international poll for the best banks conducted in December 2011 by Islamic Finance News (IFN), an e-newsletter that specializes in assessing and providing news about Islamic banks and their development worldwide. Those two awards came in recognition of the bank’s continuing efforts last year in implementing its development plan and achieving higher growth rates, increasing the offering of Shari’a compliant products and services and focusing on better customer service, thus strengthening its position in the banking sector.

In the same poll, Abu Dhabi Islamic Bank won three awards, “Best Syndicated Deal of the Year 2011”, “Turkey Deal of the Year 2011” and “Best Islamic Bank in UAE 2011”.  In a big celebration organized by IFN in Dubai on Wednesday, February 29, 2012, Nevine Loutfy, Managing Director and CEO of NBD and Tirad Mahmoud, CEO of ADIB received the awards. Nevine Loutfy stated, “The two awards that NBD received are the result of the strategy adopted in2011.  Despite the challenges and events witnessed during the year, the bank dedicated its efforts towards service excellence and focused its objectives on how to provide a unique experience to its customers, through its innovative products and services, which accordingly led to their favorable votes in the poll.  Customers’ satisfaction was the primary factor behind the bank’s awards; because without it we would not have gotten the votes, which determined the winner”

Further, thanks to the Islamic banking expertise and support NBD is continuously receiving from ADIB in various areas, NBD was able to strengthen its position and win the Best Islamic Private Bank award.

Press Release