8th Global Islamic Finance Awards Ceremony Concluded With the Recognition of More than 50 Winners Worldwide

London: The 8th Global Islamic Finance Awards (GIFA) Ceremony concluded on September 30 in Bosnia and Herzegovina. Held at a glittery event in the capital city of Sarajevo, the 8^th GIFA was attended by heads of state and government, ministers, ambassadors and Islamic financial fraternity from around the world. The Gala Dinner was hosted by Bosna Bank International (BBI).

Chief Guests included His Excellency Bakir Izetbegovic, Chairman of the Council of Presidency of the Republic of Bosnia-Herzegovina, His Excellency Ismail Omar Guelleh, President of the Republic of Djibouti and GIFA Laureate 2017 and Ms Lisa Doughten, Chief of the United Nations Central Emergency Response Fund (UNCERF) Secretariat.

Other dignitaries were Abdullah Skaka, Mayor of Sarajevo; Sheikh Huseinef Kavazovi?, Grand Mufti of Bosnia-Herzegovina; Mr Zakri Jaafar, Malaysia Ambassador to Bosnia and Hervegovina; Mr Mark Field, British Ambassador to Bosnia and Herzegovina; Dr. Kairat Kelimbetov, Chairman of Astana International Financial Centre, and Eng Hani Salem Sonbol, CEO of International Islamic Trade Finance Corporation.

This year, more than 50 awards were presented to winners from over 20 countries. Amongst the winners from Middle East were Dubai Islamic Bank, Siraj Finance, Aircraft Leasing Islamic Fund (ALIF), SEDCO Capital, ITS, OneGram and Dar Al Sharia. Other countries included South Africa (FNB Islamic Banking and Oasis Crescent); Indonesia (BAZNAS, Bank Indonesia, Indonesia Stock Exchange, BTPN Syariah); the UK (DDCAP, Gatehouse Bank, Islamic Reporting Initiative, Eiger Trading Advisors); Kingdom of Saudi Arabia (ITFC, ICIEC, Bank Al Inma); Malaysia (AmInvestment, BNP Paribas Asset Management, Silverlake, ITRAMAS Corporation, Cagamas, Salihin Advisory, MARC, MFPC, Dewina Brahim’s Holding, UiTM, Accounting Research Institute).

Other award winners were S&P Global, Moody’s, Bank of Khartoum, Bosna Bank International, Astana International Financial Centre, Meezan Bank and VG.

Path Solutions walked away with 2 awards - GIFA Market Leadership Award for Islamic Financial Technology and GIFA Advocacy Award 2018 (Islamic Finance Technology) to Mr Mohammed Kateeb, Chairman and CEO of Path Solutions.

In her welcome remarks, Dr Sofiza Azmi who is the Chairman of GIFA said: “GIFA celebrate the success of award winners who have made outstanding achievements their respective fields, contributing to the sustainability of Islamic banking and finance as a viable system within the global international financial architecture.” She added that “These are the players and thought leaders who are championing Islamic finance and converting vision into reality.”

This year, the GIFA Awards Committee decided to present 2 GIFA Leadership Award 2018; one for the country category and another for an individual who has shown commitment to the development of Islamic economy in his or her particular country. The GIFA Leadership Award 2018 for a country was presented to Mr Bakir Izetbegovic, Chairman of the Council of Presidency of the Republic of Bosnia-Herzegovina for the great strides his country has made in the field of Islamic banking and finance under his direct patronage. It is due to the keen personal interest taken by President Bakir Izetbegovic that Bosnia and Herzegovina is now serving as a gateway for Islamic banking and finance as well as halal sector to the Southeast Europe region.

Meanwhile the GIFA Leadership Award 2018 for an individual was presented to President Bakir Izetbegovic by President Ismail Omar Guelleh, who himself was GIFA Laureate for 2017. As the 8th GIFA Laureate, President Bakir Izetbegovic joins other laureates such as Tun Abdullah Badawi, former Prime Minister of Malaysia (2011); Sultan Nazrin Shah of Perak, Malaysia (2012); Shaukat Aziz, former Prime Minister of Pakistan (2013); Nursultan Narzabayev, President of the Republic of Kazakhstan (2014); Muhammandu Sanusi II, Emir of Kano, Nigeria (2015); and Joko Widodo, President of Indonesia (2016).

Several prestigious awards at the individual level was also presented during the awards ceremony. The prestigious award for Islamic Personality of the Year 2018, was presented to Mr. Musa Abdelaziz Mohammad Shihadeh, CEO of Jordan Islamic Bank. GIFA CEO of the Year 2018 was won by Mr. Abdulmohsen Bin Abdulaziz Al-Fares, CEO of Alinma Bank while Mr Khaled Jamal Al Kayed, CEO of Bank Nizwa was announced as Islamic Banker of the Year 2018. Award for the Most Outstanding Leader in Islamic Finance 2018 was awarded to Mr Abdulbasit Al-Shaibei, CEO of Qatar International Islamic Bank.  Mr Nathif J. Adam was conferred the GIFA Special Award (Leadership Role) 2018 for his services to Islamic banking and takaful in Kenya.

This year, GIFA Awards Committee introduced several new categories. Best Islamic FinTech Product/Initiative of the Year 2018 went to OneGram, Dewina Brahim’s Holdings was announced as the Best Halal Brand Award 2018, Best Central Bank of the Year 2018 was conferred to Bank Indonesia while Central Banker of the Year 2018 was awarded to Mr Ahmed Osman Ali, Governor of the Central Bank of Djibouti. Meanwhile, Best SRI Sukuk of the Year 2018 went to ITRAMAS Corporation.

Commenting on the Awards Ceremony, Dr Sofiza Azmi said: “We are delighted to see so many luminaries and proponents of Islamic finance here with us this evening as well as a large number of foreign guests from so many different parts of the world. Their tonight reflects not only the significance of this prestigious GIFA Award but also the universality and diversity of Islamic finance today.”

Ms Lisa Doughten, Chief of UNCERF Secretariat together with President Ismail Omar Guelleh were the Chief Guests of the night. In her keynote speech, Ms Doughten called for the Islamic finance community to come together for humanitarian aid assistance. “…the world of humanitarian assistance, and the world of Islamic finance, are not that far apart. In fact, through Zakah, sadaqah, and the institution of waqf, the Islamic finance sector was inherently built on the notion of humanitarian assistance,” Ms Doughten said.

Addressing the room of 200 dignitaries and guests, Ms Doughten pointed out that “Already now, the concept of Islamic Social Finance has laid a great foundation for such breakthroughs, as have ‘green sukuks’ and other socio-economic instruments such as zakat, waqf, and qard al-hassan.”

Ms Doughten also announced that the GIFA Awards Committee is considering to introduce a new top category’ award in 2019 – the GIFA Award for Humanitarian Assistance. “With the goal of raising awareness for the growing need for humanitarian assistance, and indeed to inspire new momentum for the message of people, planet, profit, and purpose - which has always been so intrinsically connected with Islamic Finance - the Awards Committee of the Global Islamic Finance Awards has decided to introduce the GIFA Award for Humanitarian Assistance in the 9^th GIFA Ceremony,” said Ms Doughten. She also commended the management of GIFA for their visionary thought leadership and determination in turning ambitions into action.

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About GIFA

Global Islamic Finance Awards (GIFA) has grown over the years to become one of the highly coveted and most respectable market-led awards in Islamic banking and finance in the world. It is a prestigious label of excellence that recognises governments, institutions and individuals who have made outstanding achievements in their respective fields, contributing to the sustainability of Islamic banking and finance as a viable system within the global international financial architecture. GIFA is managed and organized by Edbiz Corporation.

About Edbiz Corporation

Edbiz Corporation is a truly unique, international Islamic financial advisory firm, committed to engendering the value proposition that Islamic finance serves to offer in the global financial markets. Edbiz Corporation 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. Our client base is diverse and includes financial institutions, governments, education providers, established businesses and entrepreneurs.

We are proud of our international network which spans five continents and includes leading names within and beyond the industry. Our aim is simple: to push the Islamic finance industry forward through dedication, collaboration and innovative thinking. We are proud of our pioneering work in developing and establishing Global Islamic Finance Awards as the most prestigious Islamic finance awards programme in the world.

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For more information on GIFA, please contact Khuram Shehzad at kshehzad@gifaawards.com or +44 (0) 20 3617 1089

© Press Release 2018