First Islamic wins Euromoney Award for Excellence in Islamic Banking

Atif A. Abdulmalik, First Islamic's CEO, said " We are delighted to receive this award from such a prestigious organization as Euromoney, which recognizes the achievements of the Bank since our establishment five years ago. Our bank was formed to take advantage of the growing interest in the Middle East for modern and innovative financial products that are consistent with Islamic principles. It was our belief at that time, as it is today, that financial products can be designed to deliver a full and competitive range of risk-adjusted returns and liquidity while maintaining compliance with Islamic principles."

Euromoney, in their January 2003 edition, said "First Islamic Investment Bank is a unique player in Islamic finance. The bank is a pioneer in private equity and real estate investments and has achieved remarkable success."

Bahrain-based First Islamic Investment Bank E.C. was established in 1997. With a paid-up capital of $112.5 million, and over 80 shareholders, First Islamic's mission is to be the leading Islamic investment bank by providing innovative and distinctive investment opportunities that generate superior risk-adjusted returns, and by adhering to its guiding values and principles, for the benefit of all stakeholders.

To date, First Islamic has undertaken direct investment transactions in excess of $970 million, real estate transactions totaling over $1.5 billion, and asset management transactions of over $575 million.

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