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Ernst & Young maintains market leadership by receiving second Islamic Finance Award in one year

  • United Arab Emirates: Tuesday, November 15 - 2005 at 17:01
  • PRESS RELEASE

Ernst & Young was yesterday declared winner of Banker Middle East's Best Islamic Finance Advisory Firm Award in competition with top global management advisory services firms.

At a special Gala Dinner at the Grand Hyatt, Dubai, Banker Middle East announced the winners for the 1st Islamic and Business Finance Awards yesterday. Winners were chosen by a panel of Islamic finance experts from across the globe. Awards were presented to leading Islamic financial services providers ranging from Islamic advisory services, to best Islamic bank.

"It gives us immense pleasure to be receiving our second award in recognition of our achievements over the past two years, as they demonstrate the commitment and real value we offer to our clients. Our professionals have demonstrated the dedication and quality of service that we set as standards for everything we do." said Ahmed Adil, Partner Business Risk Services, Ernst & Young Bahrain.

In February of this year, Ernst & Young's Islamic Financial Services Group (IFSG) was also presented with Euromoney's Best Islamic Assurance & Advisory Award for having completed the most extensive range of assignments for both the public and private sectors in 2004.

In the International banking industry, the Islamic finance sector has evolved to become one of the fastest growing niche markets. Globally, financial institutions have recognised Islamic banking as a potentially lucrative addition to the mainstream customer segment, which is more receptive to Islamic finance. No longer limited to Islamic countries or the Muslim population, strong consumer and commercial demands are now driving Islamic finance forward.

"We ascribe our success to our long-term commitment to serving the Islamic financial services industry by offering a wide range of specialized Islamic finance advisory services to our clients by developing strong relationships and by delivering high quality work. Receiving the Best Islamic Finance Advisory Firm award has reconfirmed our reputation as a market leader in the global Islamic finance advisory arena."

said Dr. Omar Marwan Kamal, IFSG Head - Ernst & Young, Middle East.
 
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ABOUT Ernst & Young MIDDLE EAST (WWW.EY.COM/ME)
Ernst & Young the Middle East has operated in the Middle East region since 1923 and is a member of Ernst & Young Global. It has over 1,700 staff working from 17 offices in 13 Arab countries/regions.

The following outline the various professional services provided to clients in the Middle East, and are in addition to the more traditional and core services of audit, accounting assistance and taxation advisory services;

• Assurance & Advisory Business Services
• Business Advisory Solutions
• Business Community Training
• Business Risk (Internal Audit) Services
• Business Transformation Advisory Services
• Corporate Affairs Advisory Services
• Hospitality and Leisure Consultancy
• Information Technology Advisory Services
• Islamic Financial Services
• Lead Advisory Service
• Technology Security and Risk Services
• Transaction Support Services






ABOUT Ernst & Young GLOBAL (WWW.EY.COM)
Ernst & Young, a global leader in professional services, is committed to restoring the public's trust in professional services firms and in the quality of financial reporting. Its 100,000 people in 140 countries around the globe pursue the highest levels of integrity, quality, and professionalism to provide clients with solutions based on financial, transactional, and risk-management knowledge in Ernst & Young's core services of Audit, Tax, and Transaction Advisory Services. Further information about Ernst & Young and its approach to a variety of business issues can be found at www.ey.com/perspectives.

CONTACT:
Michael Hasbani / Lamice Murshid
(Ernst & Young)
Tel: + 971 4 3324000
Fax: + 971 4 3324004

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