This year Cambridge IFA is proud to present its 13th edition of the Global Islamic Finance Awards and the 3rd Global Islamic Finance Summit 2023. GIFA’s prestigious award ceremonies have been held in different parts of the world and hosted by the Head of State/Government to honour the outstanding achievements and contributions of governments, organisations, and individuals in facilitating the evolution of Islamic banking and finance into a sustainable system within the global Islamic financial architecture. Previously, GIFA ceremonies have been held in Africa, Bosnia and Herzegovina, Kazakhstan, Indonesia, Bahrain, UAE, Oman, Pakistan and Malaysia.          

Cambridge IFA, a leading firm providing research and advisory services to the Islamic finance industry, has been organising the Global Islamic Finance Awards (GIFA) since 2011. GIFA is an annual awards ceremony that recognises excellence in the Islamic banking and finance industry. The top award at GIFA - the Global Islamic Finance Leadership Award - is presented to heads of state or government who have made significant contributions to the development of the Islamic financial industry, recognised as GIFA Laureates. GIFA is a prestigious award that honours the achievements of those who are working to promote Islamic finance around the world.

 “We are the only awards body that have honoured prime ministers and presidents of the countries for their commendable contributions to promotion of Islamic banking and finance. In fact, we are second to only Nobel Peace Prize Committee in terms of the number of laureates drawn from the top echelons of the political spectrum,” said Professor Humayon Dar, Founder of GIFA. 

The previous GIFA Laureates have included His Excellency Abiy Ahmed Ali (PhD), Prime Minister of the Federal Democratic Republic of Ethiopia (2022), His Excellency Ma’ruf Amin, Vice President of the Republic of Indonesia (2021), His Excellency Dr Arif Alvi, President of the Islamic Republic of Pakistan (2020), His Excellency Cyril Ramaphosa, President of the Republic of South Africa (2019), His Excellency Bakir Izetbegovic, former Chairman of Presidency of Bosnia-Hersegovina (2018), His Excellency Ismail Omar Guelleh, President of Djibouti (2017), His Excellency Joko Widodo, President of Indonesia (2016), His Highness Muhammandu Sanusi II, Emir of Kano, Nigeria (2015), His Excellency Nur Sultan Nazarbayev, first Prime Minister of Kazakhstan (2014), His Excellency Shaukat Aziz, former Prime Minister of Pakistan (2013), His Royal Highness Sultan Nazrin Shah of Perak, Malaysia (2012), and His Excellency Tun Abdullah Badawi, former Prime Minister of Malaysia (2011).

Nominations are open in more than 150 categories in Market Leadership awards, Championship awards, Excellence awards, Power awards, and general categories for the 13th edition of the Global Islamic Finance Awards.

The GIFA Awards Committee, when assessing and comparing nominations, takes into account four major selection criteria, innovation, quantity and quality, cross border and growth of the industry.

  1. Innovation: products and services that have contributed to the growth of the Islamic finance industry through innovative applications of Shari’a principles.
  2. Quantity and Quality: the breadth and depth of the products and services in the performance of nominated institutions
  3. Cross Border: products and services that take on an international dimension
  4. Growth of the Industry: products and services that have established standards of best practices for the national and international markets.

The GIFA Awards Committee also considers aspects of Social Responsibility, Shari’a Authenticity and Commitment to Islamic Banking and Finance. GIFA acknowledges excellence and best practices in Islamic finance in various categories ranging from industry players to service providers, Shari’a scholars and academicians in various sectors within Islamic finance.

Every year, the GIFA Awards Committee recognises institutions and individuals from around the world for their exceptional contributions to the development of Islamic banking and finance. Over the last 12 years, GIFA has honoured more than 700 governments, institutions and individuals. The coverage of GIFA is comprehensive, including all the industry stakeholders from politicians to academicians that have played leadership roles in their respective fields. 

About Cambridge IFA:

Cambridge IFA is a financial services intelligence house that specialises in developing and utilising powerful cutting-edge analytical tools to evaluate business data, assess macroeconomic indicators and understand market trends, leadership positioning and brand development relevant to the development of the global financial services industry.

The principal activity of Cambridge IFA is developing performance indicators specific to alternative practices of banking and finance. It also aims to provide strategic advice to governments, financial institutions and multilateral organisations in the development of financial markets including alternative banking and finance products, procedures, practices and policies.

Through our strong and invaluable relations with policymakers and private sector industries, we have insights into market and business trends as well as policy changes. This allows us to identify and prioritise common issues and provide perspectives and solutions that are practical, focused and effective; which will increase the competitive advantage of our clients.

Cambridge IFA is a member of the Cambridge-Edbiz Group of Companies headquartered in London.