Bahrain banks emerged out the winner at the 4th Annual Islamic Business and Finance Awards ceremony held in Dubai scooping nine out of the 27 awards including Best Islamic Commercial Bank and Best Islamic Training Institution awards.

The awards were designed to encourage, inspire and reward excellence within the global Islamic Business and Finance community, said the organisers, CPI Financial, publisher of Islamic Business & Finance.

The awards ceremony brought together some 300 distinguished regional and global industry professionals from around the world celebrating corporate and individual distinction amongst top performers in the industry.

Khaleeji Commercial Bank clinched the ‘Best Islamic Commercial Bank award, while Centre for Islamic Finance (BIBF) was named the ‘Best Islamic Training Institution,’ Al Baraka Banking Group was recognized for ‘Best Islamic Globalisation Effort,’ Unicorn Investment Bank received an award for ‘Best Islamic Investment House,’ and Kuwait Finance House won the ‘Best Islamic Wealth Management Campaign Award.’

Once again this year, Gulf-based institutions and individuals were able to compete head-to-head with their international peers, scooping more than two thirds of the trophies or 19 awards. Other winners were drawn from Malaysia, Pakistan, United Kingdom, USA, Australia and Luxembourg, the organisers added.

The top prize of ‘Best Islamic Bank’ went to Dubai Islamic Bank for the second time. The bank had previously won this award in 2007.

In addition, individual prizes were awarded to finance professionals whose outstanding contributions have led to the phenomenal growth of this sector, even during one of the most challenging periods in the history of banking and finance.

Tan Sri Dato’ Azman Hashim, chairman of AmBank Group, was honored with the ‘Lifetime Achievement Award,’ while the ‘Outstanding Contribution Award’ was given to Dr Abdulaziz Bin Naif Al Orayer, chairman of t’azur.  Mohammed Sulaiman Al-Omar, chief executive officer of Kuwait Finance House was named the ‘Islamic Banker of the Year.’

Unlike the corporate categories, where voters were given a short-list of institutions on which to vote, the individual categories were ‘write-ins’ in which members of the global Islamic financial services industry recognized the contributions to Islamic finance by the individual winners.

Nigel Rodrigues, CEO of CPI Financial, publisher of Islamic Business & Finance, said the astonishing growth of the global Islamic finance industry is mirrored by the increasingly stiff competition for these awards.

'We are proud to recognize and reward the growth and achievements of Islamic financial institutions around the world,' he added.-TradeArabia News Service