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ABG and four units win top finance magazine awards

Bahrain Business
Mon, 10 Sep 2018

MANAMA: Bahrain-based Islamic banking group Al Baraka Banking Group (ABG) and four of its subsidiary banking units have been named winners of Global Finance magazine’s Best Islamic Financial Institution Award of 2018 for the sixth year in a row.

ABG has been declared the Best Islamic Financial Institution in Africa, whereas Al Baraka Islamic Bank Bahrain has won the Best Islamic Financial Institution in Bahrain Award.

While Jordan Islamic Bank has been named the Best Islamic Financial Institution in Jordan; Al Baraka Bank Algeria and Al Baraka Bank Tunisia have been declared the Best Islamic Financial Institutions their respective home countries.

The winners were announced by the magazine’s award committee, which included a number of economists and editors of Global Finance, international financial advisers and a number of bank managers and banking experts.

They have been chosen for “their prominent role in the Islamic banking sector, their ability to achieve consistent growth in the future and meeting professional standards in terms of the quality of products and services offered to clients, as well as for their originality and innovation in services and customer service, continued development and innovation in banking operations and other important criteria such as strategic relationships, geographic reach, profitability and robustness of financial position”, said the committee.

The awards will be formally presented at the annual ceremony during the IMF World Bank annual meetings, to be held in Bali, Indonesia on October 13.