In Early 2014 ADIB - Egypt named “Best Islamic Bank in Egypt" and won “Best Mudarbah Deal of the year 2013”
Cairo, Egypt: … February 2014 – For the fourth consecutive year, Abu Dhabi Islamic Bank - Egypt was named “Best Islamic Bank in Egypt". The bank also won for the first time Best Islamic Finance Mudarbah Deal of the year 2013 for the US$ 110 million syndicated finance agreement in favour of the East Delta Electricity Production Company (EDEPC). Both awards were granted by the” Islamic Finance News (IFN)” an international renowned organization that specializes in assessing and providing news about Islamic banks and the development of the Islamic banking industry worldwide.
For the award "Best Islamic Bank in Egypt", the selection of the bank for this award came as a result of sorting a large number of Customers votes on IFN website. As to the award for “Best Mudarbah Deal of the year”, it was determined by a specialized committee based on a thorough review and evaluation of the entries submitted for corporate finance deals conducted by Egyptian banks in 2013.
Nevine Loutfy, CEO and Managing Director of ADIB Egypt, to that stated,“Receiving these two awards from a prestigious international organizationis thanks to the team working restlessly to accomplish this successdespite the significant economic challenges in recent years, we are equally proud of winning Best Mudarbah Deal of the year 2013in supporting the local electricity sector which is considered one of the vital sectors in Egypt”
Nevine Loutfy, received both awards at a special ceremony hosted by IFN on February 24, 2014 in Dubai, UAE. Furthermore, she added “Industry accolades, such as the IFN awards, encourage us to work harder to maintain positioning our Bank among the leading financial institutions in the Egyptian market, to pursue our customer-centric strategy, and, to provide innovative products and services to enrich the banking experience of all our clients.”
The “Best Islamic Bank in Egypt" and "Best Mudarbah Deal" awards came in recognition of the ADIB Egypt efforts and progress in implementing an integrated strategic plan for the development of all its operations and sectors. These efforts have positioned ADIB Egypt among the fastest growing banks in the Egyptian market.
ADIB was not only recognized in Egypt but also ADIB – UAE won in the same poll eight awards, among which the Best Islamic Bank overall for the 2nd year in a row, and Best Islamic Bank in the UAE for the 4th year in a row.