BIsB's win of this major award comes in view of the deliberations of the Award's panel of judges consisting of a number of editors and specialists in Islamic banking and finance.
The Bank has won this award in appreciation of the quality of services to its customers in addition to the invocative nature of its products that are Sharia'a compliant.
Commenting on this win of the prestigious award, Mr. Mohamed Ebrahim Mohamed, BIsB Chief Executive said:
"The Bank's achievement of winning this Award from Global Finance, which is a highly respected magazine on the international level underlines the effectiveness of the policies and plans of the management for developing the Bank's performance and position on the regional and international levels. It is also recognition of the pioneering role played by the Bank in the Islamic banking industry in Bahrain that has become a tangible reality on the global banking scene."
Mr. Ebrahim further said, "The Bank has become a strong and active competitor to the leading international banks and financial institutions. BIsB has succeeded in strengthening its financial position in the world of Islamic banking in the past and now we are seeking to maintain this status and development of services given the increase in competition in the banking industry."
Meanwhile, BIsB Chief Executive said that winning this Award has had a very positive impact upon all the Bank's employees at the time when many international financial and investment institutions are going through immense financial hardships. Winning this award has underlined the outstanding financial position of the Bank and the efficiency of the strong policies pursued in its operations enabling it to achieve a balanced performance to overcome the current hard times faced by the banking industry worldwide.
Concluding Mr. Mohamed Ebrahim said, "Such achievements make us face even greater responsibilities and compel us to make further efforts to develop Islamic banking services and products in our Bank to meet the requirements of our customers. In this regard, we wish to express our thanks and appreciation to the Board Chairman and members for their continuous support to the Bank's plans and achievements. We are also grateful to all the staff members of the Bank for their sincere efforts and hard work whose fruits have culminated in winning this Award."
The Bank's Chief Executive will attend the Award presentation ceremony due to be held in October in Istanbul, Turkey, under the patronage of President Abdulla Gull of Turkey.