22-03-2015
ADIB Scoops Awards at IFN Awards Ceremony
ADIB - Egypt Received Two Prestigious Awards
- “Best Islamic Bank in Egypt” for the 5th year in a row
- “Best deal of the year in 2014”
Cairo, Egypt: March 22nd, 2015 –Abu Dhabi Islamic Bank - Egypt received two prestigious awards from the Islamic Finance News (IFN) in the ceremony held at the Ritz Carlton at the Dubai International Finance Centre (DIFC). ADIB– Egypt was named “Best Islamic Bank in Egypt” for the fifth consecutive year and was awarded “Best Deal of the Year 2014” in Infrastructure and Project Finance for the Al Sharkiya Sugar Manufacturing Company (ASSM) (Al Nouran) syndicated finance deal lead by ADIB Egypt, Banque Misr, Bank Audi and 10 other banks worth EGP 1.5 billion the deal was structured as Istisnaa and forward Ijara.
It is worth mentioning that Islamic Finance News is a leading institution specialized in Islamic banking and capital markets. It aims to help decision makers of senior business finance and bankers keep pace with the latest updates of the sector. The selection of ADIB Egypt for the “Best Islamic Bank in Egypt” award came as a result of online peer-votes. This year's awards votes recorded significant participation with 20,603 voters, marking an increase from 13,480 votes in the previous 2013 poll.
The “Best Deal of the Year” for Infrastructure and Project Financeaward resulted from a thorough assessment of top Islamic financing deals based on peer nominations and independent industry analysis and evaluated by a specialized panel of experts aiming to honor the most prominent financing deals carried out by the participant banks over the past year. A number of outstanding financing deals by Islamic banks took place in 2014, offering financing to key sectors across the region; this confirms the flexibility of Islamic capital markets.
“We are of course delighted and humbled by the awards we are receiving, which serve to underline the progress we are making within our part of the banking industry, but also in the overall banking industry”said Nevine Loutfy, the Managing Director and CEO of ADIB - Egypt.“We are always seeking to deliver banking solutions, new and innovative products and excellent customer service to keep us ahead of our competitors. We do not take such recognition for granted, and know that year after year we have to meet and exceed higher standards to deserve more awards.”she added
ADIB - UAE received six prestigious awards at the Islamic Finance News Awards Ceremony making it the most awarded bank at the event, among the accolades given to ADIB – UAE was recognition for its acquisition of Barclays UAE Retail Banking business for which it won the Corporate Finance Deal of the Year award, “Best Overall Islamic Bank Globally and in UAE”, and “Best Islamic Bank for Treasury Management”.
