London - The Organizing Committee of Global Islamic Finance Awards (GIFA) announced today holding of the 8th edition of GIFA at Sarajevo, the capital city of Bosnia-Herzegovina. This follows the 7th GIFA Ceremony that took place last year at Astana, the capital city of Kazakhstan.

A large number of organizations from the Middle East, especially GCC, are expected to attend what is considered as the most prestigious Islamic finance awards ceremony in the world.

The previous GIFA winners have included the likes of Dubai Islamic Bank, Abu Dhabi Commercial Bank, National Bank of Abu Dhabi, Kuwait Finance House, Albaraka Islamic Bank, National Commercial Bank, and the organizations like Islamic Development Bank (and its affiliates, e.g., Islamic Research & Training Institute, Islamic Corporation for the Development of the private Sector, Islamic Trade Finance Corporation, and Islamic Corporation for Insurance of Investment and Export Credit) , Accounting & Auditing Organization for Islamic Financial Institutions (AAOIFI) and International Islamic Financial Market (IIFM).

Another important region represented by GIFA is the Far East from where Islamic banks from Malaysia and Indonesia have in the previous editions won GIFA’s in different categories.

“This is for the first time that we are holding GIFA in Europe, attempting to bring Islamic financial institutions in the Western hemisphere to the forefront of the global Islamic financial industry, and at the same time exposing them to the best practices in Islamic banking and finance in the Muslim world,” said Dr. Sofiza Azmi, Chairman of GIFA and CEO of Edbiz Corporation.

GIFA was founded in 2011, with the first edition held in Muscat (Oman) where Tun Abdullah Badawi, a former prime minister of Malaysia, was announced as the first GIFA Laureate. It was followed by the second GIFA Awards Ceremony in Kuala Lumpur in 2012, where Sultan of Perak was announced as the GIFA Laureate for the year. Other GIFA Ceremonies have taken place in Dubai, Bahrain, Jakarta and Astana. Other GIFA Laureates include:

·         Shaukat Aziz, Former Prime Minister of Pakistan (2013)
·         Nursultan Nazarbayev, President of Kazakhstan (2014)
·         HRH Muhammadu Sanusi II, Emir of Kano, Nigeria (2015)
·         Joko Widodo, President of Indonesia (2016)
·         Ismail Omar Guelleh, President of Djibouti (2017)

The oldest Islamic finance award programme is Islamic Development Bank Prize in Islamic Economics and Islamic Banking and Finance, which was established in 1988. “We, at Islamic Research & Training Institute, take pride in being the pioneer in Islamic recognitions and felicitations and managing IsDB Prize,” said Dr. Humayon Dar, Director General of IRTI. “We are also aware that GIFA is recognizing best practices, products, institutions, countries and individuals playing lead roles in Islamic banking and finance,” he continued.

The 8th GIFA will take place towards the end of September where President of Bosnia-Herzegovina is expected to be the Chief Guest. The nominations are open and all the relevant parties are encouraged to submit their nominations. The categories like Best Islamic Bank, Best Islamic Fund Management Company, Best Islamic Fund and Best Islamic Finance Qualification pose tough competition to the contenders. “This year, will not be an exception, as we have already started receiving nominations from around the world,” said Dr. Sofiza Azmi.
About Edbiz Corporation:
Edbiz Corporation is a global Islamic finance think tank, headquartered in  London. For more information, please visit: 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. Its client base is diverse and includes financial institutions, governments, education providers, established businesses and entrepreneurs.

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