London, August 17, 2016 - The 6th Global Islamic Finance Awards (GIFA) ceremony is scheduled to be held in Jakarta on September 29, 2016, under the auspices of Otoritas Jasa Keuangan (OJK), the Indonesia Islamic Banking Association (ASBISINDO), and Indonesian Takaful Association (Asuransi Syariah Indonesia). The Awards Ceremony will be attended by CEOs of Islamic banks and financial institutions from around the world, including but not limited to the Gulf Cooperation Council (GCC) countries, Malaysia, USA, Europe and Pakistan.

"The choice of Jakarta for the 6th GIFA is strategic," said Dr Sofiza Azmi, CEO of Edbiz Consulting that serves as Awards Administrator. With a Muslim population of over 200 million, Indonesia is emerging as a strategic frontline for the global Islamic financial services industry. In light of this background, the GIFA Stakeholders Committee decided to hold the 2016 Awards Ceremony in Jakarta to highlight the emerging role of Indonesia in IBF. Previous GIFA Awards Ceremonies took place in Muscat (2011), Kuala Lumpur (2012), Dubai (2013 & 2014) and Bahrain (2015).

"At this year's GIFA ceremony, over 50 award categories will be handed out including the most prestigious Global Islamic Finance Leadership Award, which is presented to a head of state or government or someone similar in stature," explained Dr Sofiza Azmi.

"The Awards Committee has decided this year to present the Global Islamic Finance Leadership Award 2016 to His Excellency Joko Widodo, President of the Republic of Indonesia, in recognition of his contribution and support to promote Islamic banking and finance (IBF) in Indonesia," said Professor Humayon Dar, Chairman of GIFA Awards Committee.

Indonesia is a rising star in Islamic finance with huge potential to drive the global Islamic finance industry to its next phase of development. Significant progress in the development of the country's Islamic financial services industry has been made as a direct result of the increasing support from various quarters and the renewed interest from the government under the leadership of His Excellency Joko Widodo.

GIFA is not only global in nature but also takes into account the many stakeholders that continue to play an important supportive role to the development of IBF. "Our focus is not just on Islamic banks or takaful providers," stated Dr Sofiza Azmi. "In light of the vision of our Chairman, Professor Humayon Dar, we take a comprehensive view on the industry and the success of its various stakeholders."

GIFA recognise, honour and celebrate success and contributions in different fields related with IBF including in the area of education and training, advocacy, technology, human capital development, financial inclusion, ancillary services and halal industry. Outstanding individuals in IBF are also honoured through various categories including Islamic Banker of the Year and Islamic Finance Personality of the Year.

Commenting on the number of nominations received this year, Professor Humayon Dar said that the number of nominations this year has not only increased over previous years but in several categories the competition is intense. "The Awards Committee takes on a positive view on the intense competition the Committee is seeing in some of the GIFA categories. This is evidence of the huge potential that the industry has to offer to the mainstream finance," Professor Humayon elucidated.

A number of Islamic financial institutions from the Middle East, particularly the GCC, are expected to take part in this year's GIFA. Important banks expected to participate from the Middle East include Bank of Khartoum, Albaraka Bank, Dubai Islamic Bank, Kuwait Finance House and many more.

Previous GIFA winners of the Islamic Finance Personality of the Year awards have exclusively come from the Middle East, namely, Sohail Jaffer (Deputy CEO of FWU Group), Dr Jamail Al Jaroudi (CEO of Bank Nizwa), Hasan Al Jabri (CEO of Sedco Capital), and Khalid Al Aboodi (CEO of the Islamic Corporation for the Development of the Private Sector (ICD)). "This year, we shall announce the first winner of this prestigious award from outside the GCC region," said Professor Humayon Dar. "It will definitely be a pleasant surprise for the industry," he continued.

Edbiz Consulting is a global Islamic finance think tank with offices in London, Istanbul and Islamabad. For more information, please visit: www.edbizconsulting.com. Edbiz Consulting provides multiple services that balance the dual purpose of developing thought leadership in this niche industry and strengthening the Islamic finance capacity for businesses and banks. Its client base is diverse and includes financial institutions, governments, education providers, established businesses and entrepreneurs.

To learn more about GIFA 2016, please contact Umar Rauf at urauf@edbizconsulting.com

© Press Release 2016