London – The 4th Islamic Retail Banking Awards (IRBA) ceremony is scheduled to be held in Dubai on November 21, 2018, where a large number of Islamic banks from the Middle East, especially GCC, are expected to attend. IRBA are based on an academically rigorous bank efficiency analysis undertaken by the UK-based financial services think-tank Cambridge IFA, and are respected as the most authentic market-led Islamic retail banking awards programme in the world.
Over the last 4 years, IRBA have honoured the best in the best class of Islamic banks from the major and marginal Islamic retail banking markets, spanning from the Middle East and Asia to European, American and African markets. Commenting on previous awards winners, Dr Sofiza Azmi, Chairman of IRBA Awards Committee and CEO of Cambridge IFA, commented, “There are obviously numerous Islamic banking awards being offered but we take the pride that our methodology is based on academically rigorous model developed in-house at Cambridge IFA, with the help of some of the top academicians specialising in Islamic banking and finance.”
“At this year’s IRBA ceremony, over 25 award categories will be handed out including the most prestigious IRBA Leadership Award, which is presented to a leading personality that has played significant role in developing Islamic retail banking,” explained Dr Sofiza Azmi.
The previous winners of the IRBA Leadership Award have included Hussein AL Qemzi (the former Group CEO of Noor Bank, Dubai), Musa Shihadeh (CEO and General Manager of Jordan Islamic Bank) and Dato’ Wan Fadzmi Wan Othman (the former CEO of Agrobank Malaysia). This year, another leading personality in Islamic retail banking will be crowned with the top award.
The IRBA also encourages a number of other top and middle management personnel in Islamic retail banking. These individual awards are deemed extremely important in career progression, and are therefore becoming increasingly competitive.
There are two broad categories of IRBA: The Strongest Islamic Retail Banks and the Critics’ Choice Awards. The latter are based on a quantitative efficiency analysis while the former are decided qualitatively by a Critics’ Choice Committee. Last year, Al Rajhi Bank bagged top five awards in the Strongest Islamic Retail Banks category, and the industry players are anxiously waiting for unveiling of the results this year. “Obviously, there is a press embargo on the information but I can tell that the accolade has not gone outside the GCC region,” said Dr. Sofiza Azmi.
While the nominations for Critics’ Choice Awards are still open but it is strongly recommended that interested banks should submit their nominations as soon as possible. For information on nominations or about IRBA, kindly contact [email protected]
About Cambridge IF Analytica:
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The principal activity of Cambridge IF Analytica is developing performance indicators specific to alternative practices of banking and finance. It also aims to provide strategic advice to governments, financial institutions and multilateral organisations in the development of financial markets including alternative banking and finance products, procedures, practices and policies.
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