Islamic Business and Finance Industry Awards to take place in December

The Islamic Business & Finance Awards, set to take place on 14th December under the patronage of Dubai International Financial Centre, were first introduced in 2005 in response to the extraordinary growth rate of the Islamic financial institutions, and are currently one of the most distinguished awards within the financial industry.

Nigel Rodrigues, CEO of CPI Financial, says:

"Islamic Finance proves to be the most promising financial sector today. Throughout the global economic crisis, the combined assets of Islamic Banks continued to soar relative to the private banks worldwide."

Robin Amlôt, Managing Editor of CPI Financial, continues by stating: "Islamic finance is currently estimated at around $840bn in value, and has captured interest on a global scale. With a compound annual growth rate (CAGR) averaging 10-20%, the Islamic finance industry is expected to reach around $1 trillion in assets by the year 2010."

The Islamic Business and Finance Awards will be granting 27 awards in total to recognise and honour the exceptional performance of various global Islamic finance organizations, as well as the superior professionals within the industry. Some of the greatly desired awards are being presented for 'Best Islamic Bank,' 'Islamic Banker of the Year' and 'Lifetime Achievement.'

A carefully selected panel of international judges, including past Awards winners, industry observers and analysts, has commenced the winner selection process, and created a shortlist of Islamic institutions across the globe.

Registered readers of Islamic Business & Finance and registered users of the website have until the first week of December to cast their votes. After thorough analysis of the voting results, final winners will be honoured at the 14th December gala dinner in Dubai.

CPI Financial aims to set the award winners as a performance standard for the Islamic financial industry.

The results last year were impressive, with over 5,000 votes cast. CPI anticipates a greater voter turnout this year due to the increased volume of readers of their publication, Islamic Business & Finance, as well as their weekly newsletter.