Cambridge, November 17, 2016
The 2nd Islamic Retail Banking Awards (IRBA) ceremony is scheduled to be held in Dubai on November 28, 2016. Organised by Cambridge IF Analytica, a UK-based financial think tank, IRBA was first launched in 2015 to recognise, reward, and honour the achievements of leading Islamic retail banks and individuals across the globe. This year’s Awards Ceremony will be attended by CEOs of Islamic banks from around the world, including but not limited to the Gulf Cooperation Council (GCC) countries, Malaysia, Indonesia, Africa, the USA and Pakistan.
IRBA celebrates excellence and best practices in Islamic retail banking in two awards classes: (1) Strongest Islamic Retail Bank Awards and (2) Critics’ Choice Awards. The former is based on a path breaking Islamic banking efficiency analysis commissioned by Hamdan Bin Mohamed Smart University Dubai, which ranks over 170 Islamic banks in terms of their efficiency. Winners of the Critics’ Choice Awards are rigorously selected by the Critic’s Choice Committee, which comprises of leading Islamic banking experts from around the world.
“We are delighted by the reception IRBA has received from the international Islamic finance community. This year we have received more than 100 nominations in various categories,” said Dr Sofiza Azmi, CEO of Cambridge IF Analytica.
Despite high growth rates especially in the GCC and MENA region, Islamic banks are continuously coping with competitive pressures from many quarters – tightened international regulations on the global banking sector, tough economic headwinds and the increased disruption of FinTech. All these, said Dr Sofiza Azmi, have directly pushed many Islamic banks to achieve greater operational efficiency and place greater importance on innovation. “Our winners exemplify such best practices in Islamic banking and the remarkable impact they have had on the Islamic retail banking sector,” she explained.
Apart from recognizing the significant contributions of Islamic retail banks toward the development of Islamic banking and finance at either the country level or regional level, IRBA also honours individuals who have shown great commitment and contributions to the of Islamic retail banking. “At the IRBA Gala Dinner, we will be announcing the prestigious Islamic Retail Banking Leadership Award 2016. This prestigious award is given to an outstanding leading personality who has not only made a difference to his respective institution, but have also championed the development of the Islamic retail banking sector, “explained Professor Humayon Dar, Chairman and Founder of IRBA.
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About Cambridge IF Analytica
Cambridge IF Analytica is a UK-based think tank specialising in offering strategic advice in the field of financial services. The main activity of the firm is to conduct academically rigorous yet professionally relevant research for financial institutions, multilateral bodies and governments.
© Press Release 2016