Abu Dhabi, 27 December 2011: ADCB Islamic Banking was named the "Most Improved Islamic Bank in the UAE" by the Global Islamic Finance Awards (GIFA) committee at a highly prestigious ceremony held on 17 December 2011 in Muscat. Awards were presented at the Oman Islamic Economic Forum (OIEF) bringing together leaders from around the globe, including keynote speaker Tun Abdullah Badawi, the former Prime Minister of Malaysia. The award was presented to ADCB Islamic Banking by Tun Abdullah Badawi.

Amr Al Menhali, Head of ADCB Islamic Banking, said: "We are honoured and delighted to receive "The most improved Islamic bank in the UAE" award for 2011. This prominent award rightly recognises the leading position of ADCB and its success in raising the benchmark for Islamic banking in the region. ADCB Islamic Banking offers a complete suite of Shariah compliant products specifically designed to cater to the needs of consumers that are key to the health of the UAE economy. This recognition is subsequent to the milestone ADCB Islamic Banking has achieved, which was acknowledged by the reputed worldwide Shariah governing body in an appreciation letter positioning ADCB Islamic Banking as a role model for Islamic Banks worldwide."

The OIEF proudly assembles a diverse number of financial practitioners, academicians, business leaders and policy makers in the industry with the Ex-Prime Minister of Malaysia Tun Abdullah Haji Ahmad Badawi as the key note speaker. The forum addressed issues including the regulatory challenges facing Islamic banking, the practice of socially responsible Islamic Finance, and the need for utilization of Islamic Banking as a tool for global economic reform.

The forum, endorsed by the Fatwa office of the Ministry of Awqaf and Religious Affairs has received support from an array of leading financial institutions from the GCC, Canada, UK, Luxembourg and Malaysia.

-Ends- 

About ADCB:
ADCB was formed in 1985 and as at 30 September 2011 employed over 3,800 people from 48 nationalities, serving over 480,000 retail customers and approximately 34,000 corporate and SME clients in 47 branches, 4 pay offices and 1 kiosk in the UAE and two branches in India.  It is the third largest bank in the UAE and second largest in Abu Dhabi by assets, at AED 183 bn as at 30 September 2011.

ADCB is a full-service commercial bank which offers a wide range of products and services such as retail banking, wealth management, private banking, corporate banking, commercial banking, cash management, investment banking, corporate finance, foreign exchange, interest rate and currency derivatives, project finance, property management services, and Islamic banking products.

ADCB is owned 58.08% by the Abu Dhabi Government through the Abu Dhabi Investment Council.  Its shares are traded on the Abu Dhabi Securities Exchange.  As at 30 September 2011, ADCB's market capitalisation was AED 16 billion.

For further information please contact:
ADCB Corporate Communications Department
Tel: +971 (0) 2 696 2380
Fax: +971 (0) 2 610 9852

© Press Release 2011