Mashreq wins two Banker ME product awards
Dubai, March 28, 2012
Mashreq, a leading bank in the UAE, won two awards at Banker Middle East Product Awards 2012 – Best Branch Design Award and Best Islamic Investment Fund Award for Mashreq Al Islami Income Fund.
The awards nominate banks that have shown outstanding performance and success over the past 12 months. Winners are selected by the readers of the publication and all publications under CPI Financial.
Shaker Zainal, head of Distribution, Middle East, said: “We are very pleased to win the Best Branch Design Award, which reflects our unique approach to create an engaging atmosphere for our customers.”
“The objective of our branch set up is to extend a banking experience with an emotional connection as well as a functional one to our customers. Our aim is to provide a holistic financial experience and we have certainly achieved that.”
“Mashreq Al Islami Fund, our flagship Sukuk fund has the strongest track record amongst other global sukuk funds and has significantly outperformed its targeted return objective of 5-7 per cent each year since its inception in June 2009,” he added.
The fund has provided 2011 return of 7.5 per cent and since inception return of 27.38 per cent (from June 2009 to March 20, 2012), a statement said.
Abdul Kadir Hussain, head of Asset Management, Mashreq, said, “The fund has provided stable and above target returns since its inception even in difficult times. The award is a direct recognition of fund’s excellent performance and our team’s ability to manage our client’s investments even in a tough market environment.” – TradeArabia News Service