CPI Financial presents the 3rd Annual Islamic Business & Finance Awards

Islamic Business & Finance, published by CPI Financial is the leading journal for this growing international business.

Marking the advances the industry has made in the last 12 months, more than 200 senior executives from Islamic financial institutions from around the world attended the gala dinner at the Godolphin Ballroom, Emirates Towers Hotel, Dubai.

Thousands of readers of Islamic Business & Finance and, for the first time, (marking the growing importance of the internet) registered users of the Islamic finance section of www.cpifinancial.net cast their votes to select the winners from more than 120 nominated institutions. The awards provide confirmation of those institutions and individuals recognised as market leaders in the Islamic financial community.

Nigel Rodrigues, CEO of CPI Financial, publisher of Islamic Business & Finance, commented:

"The global Islamic finance industry has more than doubled in size since we instituted these awards three years ago. The awards recognise and reward the growth and achievements of Islamic finance around the world and allow new and old, large and small institutions to triumph and be acknowledged by their peers for recent successes."

Estimates of the size of Islamic finance have grown to around $700bn in assets under management in 2008, a figure that is forecast to rise to $1 trillion in 2010, up from $300bn in 2005. With winners from three continents, the Islamic Business & Finance, Awards underline the growth and global importance of Islamic finance at a time when the past model of conventional financing is being called into question.

Robin Amlôt, Managing Editor of CPI Financial said:

"We are proud to organise this prestigious event, highlighting the progress of Islamic finance. The winners of the Islamic Business & Finance Awards are leading the way in creating a force to be reckoned with in financial services around the world. Overall, Islamic finance is growing at up to 25% a year, penetrating new markets and growing strongly in existing markets around the world. There can be no doubt that our winners will continue to grow and prosper in this environment of opportunities."