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Islamic banks vying for top awards

Bahrain Business
Thu, 02 Nov 2017

MANAMA: The third series of the World Islamic Banking Conference (WIBC) leaderboard at the 24th edition of the conference next month will see top performing Islamic financial institutions vying for the WIBC Awards that recognise the best performing banks at the global, regional and country Level.

Introduced in 2015, the WIBC leaderboard is a first-of-its-kind comprehensive assessment tool that acts as an innovative benchmark to help Islamic financial institutions gauge and assess their performance in comparison to their core competitors.

The leaderboard provides industry participants with dynamic and visual rankings of Islamic banks as compared to their peers at the global, regional and national levels, based on various robust financial and governance metrics.

In addition to the individual metrics, banks will also be ranked on the basis of an aggregate score, which forms the apex of the WIBC leaderboard.

This aggregate index holistically ranks entities on the basis of the aforementioned financial and governance measures.

The WIBC performance awards 2017 will be given away during a gala dinner on December 5 and the nominees have been already announced. The data employed in creating the assessment framework has been sourced from the ICD Thomson Reuters Islamic Finance Development Indicator and Orbis Bank Focus.

Top performing Islamic financial institutions will be vying for three categories of the awards – one global award; four regional awards for world regions GCC, South East Asia, South Asia and Levant; and 12 country awards for Bahrain, Bangladesh, Egypt, Indonesia, Jordan, Kuwait, Malaysia, Oman, Pakistan, Turkey, the UAE and Saudi Arabia.

Confirmed partners at WIBC 2017 so far include Kuwait Finance House, Khaleeji Commercial Bank, Bahrain Islamic Bank, Al Salam Bank-Bahrain, Ibdar Bank, Bank ABC Islamic, Bank of Khartoum International, Boubyan Bank, Avaya, Wahed Invest, Alvarez & Marsal, Al Baraka Banking Group, Ithmaar Bank, Thomson Reuters, Path Solutions, Luxembourg for Finance, Baker McKenzie, Darktrace, Eiger Trading Advisors, The Benefit Company, G4S, Department for International Trade – British Embassy Bahrain, DDCAP, Deloitte, Fitch Ratings, Crestbridge Bahrain and Bahrain Institute of Banking and Finance.

Based on a strategic partnership with the Central Bank of Bahrain, the 24th WIBC will take place on December 4-6 at the ART Rotana Amwaj Islands under the theme ‘Drivers of Economic Growth and Risks: Policymakers and Regulators’.

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