Financial and Banking News
CEO of Al-Rajhi Bank was declared Islamic Banker for 2007Abdullah Sulaiman Al-Rajhi, chief executive officer of Al-Rajhi Bank, was declared "Islamic Banker of the Year" for 2007 at the International Industry Awards Ceremony of the 14th Annual World Islamic Banking Conference (WIBC).
Al-Rajhi was given award in recognition of his leadership of a long-standing major institution, together with his expansion of Al-Rajhi Bank into international markets, and the revamping of the brand that has positioned the institution for the next generation of Islamic banking.
The award, one of the oldest and most prestigious in the international industry, is based on votes cast by a select group of executive leaders from the international Islamic banking and finance industry. The voting process is audited by Ernst & Young.
"The Islamic Banker of the Year recognizes the outstanding efforts of a truly exceptional individual who has helped to develop our industry. Ernst & Young is proud to have been associated with the award since its inception," said Sameer Abdi, head of Ernst & Young's Islamic Financial Services Group.
Adnan A Al-Musallam, chairman and CEO of Investment Dar, won The Industry Leadership Award 2007 for his outstanding contribution to Islamic banking. This award is made in recognition of a key individual who has demonstrated strong leadership qualities and long-term strategic impact over the Islamic banking and finance industry. It recognizes Al-Musallam's successful expansion and growth of the Investment Dar group, the recent launch of Investment Dar Bank in Bahrain, and the landmark Aston Martin deal which took Islamic finance to new heights.
Meanwhile, Kuwait Finance House Group won the 2007 Institutional Excellence Award. Abdulhakem Alkhayyat, general manager of Kuwait Finance House, said: "Striving to achieve the highest levels of quality through the products we offer, the services we provide and the procedures we follow, is paramount to Kuwait Finance House-Bahrain. Receiving this prestigious award is undoubtedly testimony to our unwavering commitment to excellence."
The WIBC Competitiveness Report is the world's first research-led program that assesses the performance of the leading Islamic banks and provides original new insights into significant strategic trends impacting the future of the industry. Working in collaboration with leading global strategic advisory firm, McKinsey & Company, The WIBC Competitiveness Report is a groundbreaking initiative designed to not only identify but also to raise the bar of financial performance and strategic excellence in the industry.
Source: Arab News
Date: 12.12.2007 
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