Shariah Finance industry holds award dinner
Though it is not the main theme of the article linked below, a major awards dinner was held in Kuala Lumpur, Malaysia on Tuesday night and we thought the listing of recipients was interesting in that it provides insight into the major players working to promote Shariah through its financial arm.
It is always also interesting to note that there are never any awards given to any Iranian financial entities, which absolutely dominate the world of Shariah-Compliant Finance in terms of assets under management. No doubt, Iran’s dominance is a source of embarrassment to others in the industry who are trying to soothe the West into accepting Shariah…
Here is the listing of award recipients from the dinner, followed by a link to the article…
The KLIFF Award to the most outstanding individual for contribution to Islamic finance went to Tan Sri Azman Hashim who is executive chairman of Amcorp Group Bhd and Sheikh Dr Mohamed Ali Elgari who is currently Professor of Islamic Economics at the King Abdul Aziz University, Saudi Arabia.
Meanwhile, the most outstanding institution for contribution to Islamic finance award went to Al Baraka Banking Group of Bahrain. (NOTE: SFW has published a couple of articles on Al Baraka in the past several months: http://www.shariahfinancewatch.org/?s=al+baraka)
Other awards announced included the most outstanding Islamic Bank (Maybank Islamic Bhd), most outstanding Islamic retail banking (Bank Kerjasama Rakyat Malaysia), most outstanding Islamic investment banking (CIMB Islamic Bank Bhd), most outstanding Takaful company (Etiqa Takaful Mlaaysia Bhd), most outstanding Islamic fund manager (Public Mutual Bhd), most outstanding Islamic finance product (Bursa Suq Al Sila Commodity Murabahah House), most outstanding Islamic financing product (Air Asia’s US$336 million French single investor leasing), most innovative Islamic project financing (Projek Lintasan Shah Alam’s Sukuk al-Ijarah RM330 million and Sukuk al-Mudarabah RM415 million) while the most innovative sukuk issuance went to Petronas’ US$1.5 billion Gold Global Sukuk.