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Saturday, 23 February 2008

CIMB Islamic wins magazine awards

KUALA LUMPUR: CIMB Islamic has been named the Best Islamic Bank in Asia and Best Sukuk House in Euromoney’s 2008 Islamic Finance Awards. It was also named Best Islamic Retail Bank by the International Islamic Business & Finance magazine.
CIMB Islamic was the only Malaysian bank that picked up accolades at the International Islamic Business & Finance Awards, said CIMB Group in a statement yesterday.

These awards recognise CIMB Islamic’s role as a global provider of Islamic financial products and services. CIMB Islamic also contributed significantly to the growth of Islamic finance globally by structuring innovative syariah-compliant financial instruments, it said.
Meanwhile, CIMB Islamic’s chief executive officer Badlisyah Abdul Ghani has been named the Islamic Banker of the Year by the International Islamic Business & Finance magazine and Islamic Finance news.
Badlisyah, 34, has an impressive resume as he created the world’s first Ijarah sukuk, Istisna sukuk and musyarakah asset-backed securities (ABS) and residential mortgage-backed securities. He has been executive director and CEO of CIMB Islamic since 2006.
Andrew Morgan, co-founder of REDmoney group, publisher of Islamic Finance news, said Badlisyah, who had been involved in Islamic financial deals worth over US$10 billion (RM32.7 billion), was the obvious choice as he has successfully guided CIMB Islamic to be on par with global financial institutions.
Meanwhile, Badlisyah said the awards were testament to CIMB Islamic’s capabilities.
“By offering modern and suitable financial solutions that are syariah-compliant, we are able to add diversity and choice to what is currently available,” he said, adding that CIMB Islamic would continue to focus on growing its business globally with emphasis in Southeast Asia and the Middle East. --(TED)

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