10 December 2007
Abdullah Sulaiman Al Rajhi, chief executive officer of Al Rajhi Bank, was declared Islamic Banker of the year for 2007 at the international industry awards ceremony of the 14th annual World Islamic Banking Conference (WIBC) held yesterday. He was given the citation in recognition of his leadership of a long-standing major institution, together with his expansion of the bank into international markets as well as revamping the brand that has positioned the institution for the next generation of Islamic banking.
The award, one of the oldest and most prestigious in the international industry, is based on votes cast by a select group of executive leaders from the international Islamic banking and finance industry. The voting process is audited by Ernst and Young with the citation presented in recognition of the achievements of a key individual who has contributed significantly to the Islamic banking and finance industry during the year.
"The Islamic banker of the year award is one of the oldest and most prestigious awards in Islamic finance. It recognises the outstanding efforts of a truly exceptional individual who has helped to develop our industry.
"Ernst and Young is proud to have been associated with the award since its inception," said Sameer Abdi, head of its Islamic financial-service group. Adnan A. Al Musallam, chairman and CEO of Investment Dar won the industry leadership citation for this year, in recognition of his outstanding contribution to Islamic banking.
This award is made in recognition of a key individual who has demonstrated strong leadership qualities and long-term strategic impact over the Islamic banking and finance industry. It recognises the chairman and CEO's successful expansion and growth of the Investment Dar group, the recent launch of Investment Dar Bank in Bahrain, and the landmark Aston Martin deal which took Islamic finance to new heights.
In the final presentation at the ceremony Kuwait Finance House group won this year's institutional excellence award. Abdulhakem Alkhayyat, KFH general manager, said: "Striving to achieve the highest levels of quality through the products we offer, the services we provide and the procedures we follow, is paramount to our company. Receiving the prestigious citation is undoubtedly testimony to our unwavering commitment to excellence."
J. P. Morgan, one of the world's leading investment banks, hosted the gala dinner and awards ceremony. Mark Webster, managing director, the bank's Islamic structuring group, said: "Our institution is pleased to be associated with the WIBC and the opportunity to host the gala dinner and Awards Ceremony.
"We are proud to support these prestigious awards that acknowledge those individuals and organisations that have significantly contributed to the industry and the region," he said.
The WIBC Competitiveness Report is the world's first research-led programme assessing the performance of the leading Islamic banks and provides original new insights into significant strategic trends impacting the future of the industry.
Working in collaboration with leading global strategic advisory firm McKinsey and Company, the report is a groundbreaking initiative designed to not only identify but also to raise the bar of financial performance and strategic excellence in the industry.
Abdullah Sulaiman Al Rajhi, chief executive officer of Al Rajhi Bank, was declared Islamic Banker of the year for 2007 at the international industry awards ceremony of the 14th annual World Islamic Banking Conference (WIBC) held yesterday. He was given the citation in recognition of his leadership of a long-standing major institution, together with his expansion of the bank into international markets as well as revamping the brand that has positioned the institution for the next generation of Islamic banking.
The award, one of the oldest and most prestigious in the international industry, is based on votes cast by a select group of executive leaders from the international Islamic banking and finance industry. The voting process is audited by Ernst and Young with the citation presented in recognition of the achievements of a key individual who has contributed significantly to the Islamic banking and finance industry during the year.
"The Islamic banker of the year award is one of the oldest and most prestigious awards in Islamic finance. It recognises the outstanding efforts of a truly exceptional individual who has helped to develop our industry.
"Ernst and Young is proud to have been associated with the award since its inception," said Sameer Abdi, head of its Islamic financial-service group. Adnan A. Al Musallam, chairman and CEO of Investment Dar won the industry leadership citation for this year, in recognition of his outstanding contribution to Islamic banking.
This award is made in recognition of a key individual who has demonstrated strong leadership qualities and long-term strategic impact over the Islamic banking and finance industry. It recognises the chairman and CEO's successful expansion and growth of the Investment Dar group, the recent launch of Investment Dar Bank in Bahrain, and the landmark Aston Martin deal which took Islamic finance to new heights.
In the final presentation at the ceremony Kuwait Finance House group won this year's institutional excellence award. Abdulhakem Alkhayyat, KFH general manager, said: "Striving to achieve the highest levels of quality through the products we offer, the services we provide and the procedures we follow, is paramount to our company. Receiving the prestigious citation is undoubtedly testimony to our unwavering commitment to excellence."
J. P. Morgan, one of the world's leading investment banks, hosted the gala dinner and awards ceremony. Mark Webster, managing director, the bank's Islamic structuring group, said: "Our institution is pleased to be associated with the WIBC and the opportunity to host the gala dinner and Awards Ceremony.
"We are proud to support these prestigious awards that acknowledge those individuals and organisations that have significantly contributed to the industry and the region," he said.
The WIBC Competitiveness Report is the world's first research-led programme assessing the performance of the leading Islamic banks and provides original new insights into significant strategic trends impacting the future of the industry.
Working in collaboration with leading global strategic advisory firm McKinsey and Company, the report is a groundbreaking initiative designed to not only identify but also to raise the bar of financial performance and strategic excellence in the industry.
© Bahrain Tribune 2007
