Latest news with #IslamicFinanceNews
Daily Tribune
03-07-2025
- Business
- Daily Tribune
BisB named Best Islamic Bank in Bahrain by Islamic Finance News
Bahrain Islamic Bank (BisB), the leading provider of innovative Islamic financial solutions for simplifying money matters in the Kingdom of Bahrain, has been named 'Best Islamic Bank – Bahrain' by Islamic Finance News (IFN). Ms. Fatema AlAlawi, Chief Executive Officer of BisB, stated: 'This prestigious recognition from Islamic Finance News reaffirms the strength of our progressive organisational strategy and the principles that define our institution.' Among the Bank's most significant achievements over last period was the expansion of its Corporate Digital Onboarding platform, enabling sole proprietorships and 'Sijili' CR holders to open accounts in under five minutes. Integrated directly with the Ministry of Industry and Commerce (MOIC), the system has improved the ease of doing business for SMEs across Bahrain.
Zawya
09-03-2025
- Business
- Zawya
Sohar Islamic recognized as ‘Most Innovative Islamic Bank in Oman' at IFN Awards
Muscat: Sohar Islamic, the Islamic banking window of Sohar International, has been recognized as the 'Most Innovative Islamic Bank in Oman' by Malaysia-based Islamic Finance News at its awards ceremony held in Dubai, UAE. This accolade underscores the bank's unwavering commitment to driving innovation in Sharia-compliant financial solutions, further reinforcing its leadership in the evolving landscape of Islamic banking. The award is a testament to Sohar Islamic's excellence in digital transformation, product innovation, and customer-centric services, setting new benchmarks in the industry. Representing Sohar Islamic at the event were Mr. Fahad Akbar Al Zadjali, Head of Islamic Banking, and Dr. Al Muatasim Al Mutairi, Vice President & Head of Investment Islamic Banking. Commenting on the recognition, Mr. Fahad Akbar Al Zadjali stated: 'Innovation is integral to the evolution of Sharia-compliant banking, ensuring that we meet the dynamic financial needs of a diverse clientele. At Sohar Islamic, we continuously push the boundaries by integrating advanced financial technologies with Sharia-based principles, offering solutions that are both ethically grounded and future-ready. By embracing digital transformation and maintaining a customer-centric approach, we deliver sophisticated and adaptable financial products that align with modern financial aspirations while upholding Islamic values.' Sohar Islamic's recognition is built upon its ability to integrate cutting-edge fintech solutions, such as AI-driven financial tools and seamless digital banking platforms, ensuring a modern yet fully Sharia-compliant banking experience. The bank has consistently pioneered unique Islamic financial products, including structured Islamic investments, that cater to the evolving needs of retail, corporate, and wholesales banking clients. With a strong focus on market leadership, Sohar Islamic continues to expand its offerings, support national economic growth through Sharia-compliant financing, and actively contribute to financial inclusion, ensuring that more individuals and businesses benefit from ethical and innovative Islamic banking solutions. Sohar International and Sohar Islamic were recently honored with the "IPO Deal of the Year 2024" for their pivotal role as Sharia Advisor in the region's most significant Initial Public Offering (IPO). This landmark transaction stands as the largest equity capital deal from Oman and the biggest in the Middle East in 2024, reinforcing the bank's expertise in capital markets. As the financial landscape continues to evolve, Sohar Islamic remains steadfast in its commitment to delivering innovative, customer-focused solutions. The bank's strategic initiatives are poised to further solidify its position as a leader in Islamic banking, ensuring that it remains at the forefront of providing value-driven services that resonate with the principles and aspirations of its clientele. About Sohar International With the vision to become a world-class Omani services company that helps customers, community and people to prosper and grow, Sohar International operates with a purpose to help people 'win' by delivering responsive banking for their ever-changing world, complementing their growth and prosperity with international standard service delivery. The Bank seeks to redefine banking in Oman through transformational developments centred on the principles of More Velocity, making everything simple and fast; More Value, ensuring relevance and connectivity to customers' world; and More Vision, liberating stakeholders through talented leadership.
Daily Tribune
05-03-2025
- Business
- Daily Tribune
Al Baraka Group banking units win over 10 IFN awards for outstanding services
Al Baraka Group announces that four of its banking units have won over 10 awards at the recent Islamic Finance News (IFN) Awards ceremony held in Dubai. Al Baraka Bank Egypt was recognized as the Best Islamic Retail Bank and Best Digital Offering in Egypt. Al Baraka Bank South Africa received the awards of Best Islamic Bank in South Africa and Best Islamic Corporate & Retail Bank. Al Baraka Bank Tunisia was honored as the Best Islamic Bank in Tunisia, Best Islamic Corporate & Retail Bank, in addition to being recognized for Most Innovative Offering and Best Digital Offering. Furthermore, Jordan Islamic Bank was awarded as the Best Islamic Bank in Jordan, Best Islamic Investment & Retail Bank, and Most Innovative Islamic Bank in Jordan. This achievement reflects Al Baraka Group's commitment to providing world-class Sharia-compliant financial solutions. Winning these prestigious awards in a single year further strengthens the Group's position in the Islamic banking sector and highlights the trust of its customers and stakeholders, as the winners are selected through an extensive industry-wide voting process. Mr. Houssem Ben Haj Amor, Board Member and Group CEO of Al Baraka Group, stated:'This achievement aligns with our ongoing mission to provide ethical, customer-centric financial services that adhere to Sharia principles. Through our banking units, we continue to innovate and enhance digital offerings to promote financial inclusion, support economic growth, and uphold the highest standards of Islamic banking. As we celebrate this recognition, we extend our sincere gratitude to our banking units, customers, employees, and partners, reaffirming our commitment to excellence'. The IFN Awards are among the most prestigious in the global Islamic finance industry, recognizing institutions that demonstrate outstanding performance and make a tangible impact in their markets. Winners are selected through an industry-wide voting process, reflecting the confidence and trust of customers and stakeholders in the awarded banks.'
Zawya
04-03-2025
- Business
- Zawya
Al Baraka Group proudly celebrates its banking units winning over 10 awards from IFN for outstanding services
Manama: Al Baraka Group announces that four of its banking units have won over 10 awards at the recent Islamic Finance News (IFN) Awards ceremony held in Dubai. Al Baraka Bank Egypt was recognized as the Best Islamic Retail Bank and Best Digital Offering in Egypt. Al Baraka Bank South Africa received the awards of Best Islamic Bank in South Africa and Best Islamic Corporate & Retail Bank. Al Baraka Bank Tunisia was honored as the Best Islamic Bank in Tunisia, Best Islamic Corporate & Retail Bank, in addition to being recognized for Most Innovative Offering and Best Digital Offering. Furthermore, Jordan Islamic Bank was awarded as the Best Islamic Bank in Jordan, Best Islamic Investment & Retail Bank, and Most Innovative Islamic Bank in Jordan. This achievement reflects Al Baraka Group's commitment to providing world-class Sharia-compliant financial solutions. Winning these prestigious awards in a single year further strengthens the Group's position in the Islamic banking sector and highlights the trust of its customers and stakeholders, as the winners are selected through an extensive industry-wide voting process. Commenting on this success, Mr. Houssem Ben Haj Amor, Board Member and Group CEO of Al Baraka Group, stated: 'This achievement aligns with our ongoing mission to provide ethical, customer-centric financial services that adhere to Sharia principles. Through our banking units, we continue to innovate and enhance digital offerings to promote financial inclusion, support economic growth, and uphold the highest standards of Islamic banking. As we celebrate this recognition, we extend our sincere gratitude to our banking units, customers, employees, and partners, reaffirming our commitment to excellence'. The IFN Awards are among the most prestigious in the global Islamic finance industry, recognizing institutions that demonstrate outstanding performance and make a tangible impact in their markets. Winners are selected through an industry-wide voting process, reflecting the confidence and trust of customers and stakeholders in the awarded banks.' About Al Baraka Group: Al Baraka Group B.S.C. (C) is licensed as an Investment Business Firm – Category 1 (Islamic Principles) by the Central Bank of Bahrain. It is a leading international Islamic financial group providing financial services through its banking subsidiaries in 13 countries offering retail, corporate, treasury and investment banking services, strictly in accordance with the principles of Islamic Shari'a. The Group has a wide geographical presence with operations in Jordan, Egypt, Tunisia, Bahrain, Sudan, Turkey, South Africa, Algeria, Pakistan, Lebanon and Syria, in addition to two branches in Iraq and a representative office in Libya and provides its services in more than 600 branches. ABG's network serves a population totaling around one billion customers. The authorized capital of ABG is US$ 2.5 billion.
Zawya
04-03-2025
- Business
- Zawya
Bank Nizwa's focus on excellence, innovation, and social responsibility earns top honours at IFN Awards
Muscat: Once again demonstrating its industry preeminence, Bank Nizwa, the leading and most trusted Islamic bank in the Sultanate of Oman, recently secured multiple accolades at the prestigious Islamic Finance News (IFN) Awards 2024, held in Dubai. The bank was honoured with the 'Best Islamic Bank in Oman' award and the 'Best Islamic Retail Bank in Oman' award, while also earning three landmark deal-based awards— 'IFN Ijarah Deal of the Year 2024', 'IFN Oman Deal of the Year 2024', and 'IFN Social Impact Deal of the Year 2024'. These honours underscore Bank Nizwa's unwavering dedication to people-centricity, financial ingenuity, and transformative impact in the Islamic finance sector. Commenting on the wins, Mr. Khaled Al Kayed, Chief Executive Officer at Bank Nizwa, said, 'These accolades are a testament to our relentless pursuit of excellence and our commitment to redefining Islamic finance as a driver of economic progress and social prosperity. At Bank Nizwa, we measure success not just by financial milestones but by the enduring value we create—whether in delivering exceptional banking solutions, expanding access to Sharia-compliant financial services, or advancing Oman's broader development agenda. Our commitment to responsible innovation, market leadership, and long-term value creation will continue to shape the future of Islamic finance, strengthening its role as a catalyst for inclusive and sustainable growth.' Bank Nizwa's recognition as the 'Best Islamic Bank' and 'Best Islamic Retail Bank in Oman' reaffirms its leadership in driving the growth of Islamic finance. The bank's ability to navigate an evolving financial landscape while delivering superior, Sharia-compliant solutions has set new standards for operational excellence, financial strength, and customer focus. By continuously expanding its portfolio through digital innovation and personalized financial offerings, Bank Nizwa remains at the forefront of retail banking, empowering individuals with transparent and accessible financial solutions tailored to their evolving needs. Bank Nizwa's expertise in structuring sophisticated financial transactions was exemplified in its role as Joint Lead Manager and Bookrunner for Omantel's US$500 million Sukuk issuance, a landmark deal that earned the bank both the 'IFN Ijarah Deal of the Year 2024' and the 'IFN Oman Deal of the Year 2024'. This transaction not only strengthened Oman's Islamic capital market but also set a benchmark for corporate Sukuk issuances. Reflecting its commitment to social responsibility, Bank Nizwa was also honoured with the 'IFN Social Impact Deal of the Year 2024'. As a key sponsor of the Ishraq Waqf Investment Fund, launched in collaboration with the Ministry of Endowments and Religious Affairs, the Sultan Qaboos Higher Center for Culture and Science, and Oman National Investments Development Company (TANMIA), the bank played a pivotal role – as the Issuing Manager and Collecting Bank – in establishing a sustainable and Sharia-compliant investment framework for Oman's waqf sector. By directing structured waqf investments into charitable and community-driven initiatives, the fund reinforces the bank's keen emphasis on integrating Islamic finance with ESG-driven strategies. These recognitions at the IFN Awards are a testament to Bank Nizwa's strong leadership, ability to drive meaningful innovation, and its commitment to fostering a resilient and values-driven financial ecosystem. The bank remains at the forefront of shaping Oman's Islamic banking landscape, delivering sustainable solutions that drive both economic prosperity and social impact.
