Absa Islamic Banking named World’s Best Islamic Financial Institution 2011

Absa Islamic Banking (AIB) has been ranked as the World's Best Islamic Financial Institution for the Non-Gulf Coorperative Council (GCC) Middle East/Africa region for the third consecutive year by internationally acclaimed Global Finance Magazine.

Absa Islamic Banking scooped the inaugural award in 2009 and made it two in a row last year.

“I believe that this award reflects the success of a strategy that is focused on providing suitable financial products and first rate service to all our customers. This achievement provides us with further impetus to enhance our Islamic banking services and products in line with our customers’ evolving needs,” said Amman Muhammad, Managing Director of Absa Islamic Banking.

Winners were selected by the editors of Global Finance Magazine after extensive consultations with bankers, corporate finance executives and analysts throughout the world.

The winners of this year’s awards are financial institutions that contributed to the growth of Islamic financing and successfully met their customers’ needs for Shariah-compliant products, while creating the foundation for continued growth in the future.

“Absa Islamic Banking was established in March 2006. The business has become entrenched in the South African market and we are proud that in its infancy, Absa Islamic Banking continues to be recognised as a globally competitive player,” said Muhammad.

Absa Islamic Banking’s latest award is one of a string of accolades that the organisation has chalked up since its inception in 2006.