The International Islamic Finance Conference, the "Malta Islamic Finance Conference: A New Beginning 2010," was held on October 27 and 28 at the Grand Excelsior Hotel in the Republic of Malta, and attended by some of the world's leading banks, both Islamic and conventional (Al Baraka Banking Group, Deutsche Bank and HSBC, amongst others) and the first Shari'ah compliant law firms Agha & Co/Agha & Shamsi. On the 27th of October, a gala dinner was held under the distinguished patronage of His Excellency Dr. George Abela, President of Malta, during which awards were presented to Islamic institutions for their commitment to the development of genuine Islamic finance. The awards committee comprised of prominent European representatives and a leading Shari'ah scholar. The following awards were given:
Al Baraka Banking Group won the coveted Islamic Banking Award for its global commitment to excellence in Islamic finance. Tariq Kazim, the Deputy General Manager, received the award on behalf of the Al Baraka Banking Group. Mr. Kazim noted, "It's a great honour to receive this prestigious award on behalf of Al Baraka Banking Group. This is a significant recognition to our unparalleled commitment in promoting Islamic finance not only in the 14 countries that we operate in but to the rest of the world. We will remain dedicated to our core Shari'ah principles and focused on our solid business strategies." The other nominees were Deutsche Bank, Meezan Bank and Alinma Bank.
Deutsche Gulf Finance (a joint venture between Deutsche Bank AG's Riyadh Branch and a group of Saudi investors led by Fahad Abdullah Abdulaziz Al Rajhi) won the Islamic mortgage finance award for excellence and commitment to quality and innovation - their principled work in this space was deemed a market-leading proposition. Other nominees were Amlak Finance and Tamweel. Samer Farhoud, CEO and Paul Melotto, CFO of Deutsche Gulf Finance received the award on behalf of Deutsche Gulf Finance. Mr. Farhoud noted, "It is a great honour to win such a prestigious award on behalf of Deutsche Gulf Finance, our employees and shareholders. We have made significant strides to educate our customers and the public as to the importance of home ownership in a transparent manner while keeping the highest regards for Shari'ah compliance. We are happy to be at the forefront in home finance in Saudi Arabia."
Kuwait Finance House won the major contribution to Islamic finance award on account of their longstanding commitment and work in the Islamic space; other nominees were Al Rajhi Bank and Bank Albilad.
Qatar Zakat Fund won the Islamic charity award for their work in this space; other nominees were Zakat Fund UAE, Dubai Islamic Bank and BMB Islamic.
Funds@Work won the Islamic Advisory Award for their work in this space, including in relation to the development of corporate governance and transparency.
The awards were presented during a gala dinner ceremony hosted by the Malta Institute of Management. Earlier in the day, the Honourable Mr. Tonio Fenech, Minister of Finance, Economy and Investment, witnessed and signed the memorandum of understanding signed by market leading institutions evidencing the commitment to promote, promulgate and preserve best practices, principles and corporate governance in the Islamic finance industry. The founding members of the institute - the World Islamic Finance Institute ("WIFI") - are the Al Baraka Banking Group, Deutsche Gulf Finance, Ernst & Young, Agha & Co, Erremme Business Advisors, Malta Union of Bank Employees and the Malta Institute of Management.
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© Press Release 2010
