Bloomberg Also Ranks Bank as Third Leading Book-Runner in Islamic Finance
Dubai: 4 February, 2009 - Noor Islamic Bank PJSC today announced it has topped the 2008 Bloomberg list of leading Sharia'a compliant Lead Arrangers in the UAE and ranked third on the list of leading Islamic finance Book Runners in the country in its first year of operation.
The ratings were based on the total volume of funds underwritten by 24 banking institutions in the UAE which provided Sharia'a-compliant finance to the business sector in 2008.
As the number one mandated Lead Arranger in Islamic finance, Noor Islamic Bank had arranged 10.4 percent of the total financing in 2008. In addition, Noor Islamic Bank was ranked third by Bloomberg in the category of leading Islamic finance Book Runners, accounting for 10.9 percent of the total volume transacted.
Hussain Al Qemzi, CEO, Noor Islamic Bank, said: "The highly impressive Bloomberg rankings signify the recognition of the inherent strength and capabilities of Noor Islamic Bank. These rankings assume even more significance, because these milestones were achieved in the very first year of operation, demonstrating our commitment to excel as a leading Islamic financial institution."
Bloomberg's operations include financial software, newswire and data services. The company also provides financial software tools such as analytics and equity trading platform, data services and news to financial companies and organizations around the world through its well known Bloomberg Terminal. Bloomberg has grown to include a global news service, including television, radio, the Internet and publications. Its news service provides definitive coverage of companies, markets, industries, economies and governments.
With 11 full fledged service branches, and two electronic banking service centers, Noor Islamic Bank offers a complete range of Sharia'a-compliant solutions. High net worth individuals have access to the exclusive Infinity lounge in most of Noor Islamic Bank branches.
In December 2008, Noor Islamic Bank also garnered top honors at the inaugural Dubai Holding Awards in the categories of 'Best Launch of 2008', 'Best Use of Digital' and 'Best Consumer Insight & Understanding'.
Launched in January 2008, Noor Islamic Bank is on its way to becoming an international provider of Sharia'a compliant financial services and solutions, transforming the offering and experience of modern Islamic banking.
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About Noor Islamic Bank
Established in 2007 in Dubai, a full service bank, Noor Islamic Bank delivers the broadest range of products for its customers, with an emphasis on unique and personalised services. Noor Islamic Bank's products and services are governed by a Sharia'a Board, comprising leading Islamic scholars with extensive experience and expertise in legal, financial and banking-related matters. Noor Islamic Bank has 11 locations and 2 Service Centers across the UAE in the Emirates of Abu Dhabi, Dubai and Sharjah, and an overseas representative office in Tunis. Please visit: www.noorbank.com
For media enquiries, please contact:
Maliha Aqeel
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Jiwin Public Relations
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Email: maliha.aqeel@jiwin.ae
Burgess Baria
Senior Account Executive, Finance Practice
Jiwin Public Relations
Tel: +9714 3642199
Mobile: +97150 6961987
Email: burgess.baria@jiwin.ae
© Press Release 2009
