Al Hilal Bank named ‘Best Islamic Financial Institution' in the UAE & Kazakhstan by Global Finance magazine

UAE, June 06, 2015 - Al Hilal Bank has announced that it was named ‘Best Islamic Financial Institution’ in the UAE and in Kazakhstan at Global Finance magazine’s 8th Annual Awards for the World’s Best Islamic Financial Institutions. The recognition affirms Al Hilal’s exceptional ability to ensure safety and security for its customers while developing new and innovative structures in line with Shariah financial principles. This marks the first time that the bank has won under the Awards’ Country category.

Al Hilal Bank was honored for its major contributions towards the growth of Islamic banking in its respective markets. The award signifies the bank’s exceptional ability to provide new directions, new technologies and special services and to re-engineer and enhance generic Islamic structures to accommodate customer needs for Shariah-compliant products. Moreover, Al Hilal Bank was recognized for laying the foundation for continued growth and safety in the future backed by modern and efficient delivery channels.

The editorial team of Global Finance chose Al Hilal Bank as the winner after extensive consultations with bankers, corporate finance executives and analysts. Judging criteria ranged from quantitative factors such as profitability, geographic reach and new business development and to subjective factors including reputation and customer satisfaction. A full report on the selections will appear in the magazine’s June 2015 issue.

The award continues Al Hilal Bank’s string of recognitions this year: in January, the bank won two ‘Deals of the Year 2014’ awards from Islamic Finance News (IFN), the world’s leading Islamic Finance news provider.  Just recently, its Al Hilal GCC Equity Fund bagged the ‘Best Islamic Fund Award’ at the 2015 Banker Middle East UAE Product Awards. Last year, Global Finance also named Al Hilal Bank the ‘Safest Islamic Bank in the UAE.’

Mohamed Jamil Berro, Group CEO, Al Hilal Bank, said: “Over the past few years Islamic finance has steadily gained a global audience with its unique Shariah-compliant principles. Al Hilal Bank is proud of its role in spreading greater international awareness and interest in Islamic banking and thanks Global Finance and other renowned institutions for recognizing and honoring our achievements. We are especially proud of the success of our overseas operations in Kazakhstan, which has established Al Hilal Bank as the leading Islamic banking institution in the country. Rest assured that we will continue to operate and deliver our services within the highest levels of quality.”

Al Hilal Bank established the first Islamic bank in Kazakhstan as a fully-owned subsidiary operating three branches in strategic locations. Its mission is to contribute to Kazakhstan’s growth and prosperity, support the growth of Islamic banking in the Commonwealth of Independent States (CIS), and create value for stakeholders.

Founded in 1987, Global Finance has a circulation of over 50,000 readers in 180 countries. It offers analysis and articles backed by 28 years of experience in international financial markets and provides a valuable source of data on 192 countries. Global Finance is headquartered in New York, with offices in London and Milan.