International Institute of Islamic Finance honours Gulf Finance House with `The Outstanding Islamic Financial Institution' Award

In recognition of its innovative contribution to the growth of Islamic banking and finance, the Kuala Lumpur-based International Institute of Islamic Finance Inc (IIIF Inc) has awarded Gulf Finance House (GFH) with `The Outstanding Islamic Financial Institution' award.

The award was presented by Tan Sri Nor Mohamed Yakcop, Minister of Finance, Malaysia, marking GFH's achievement in promoting Islamic banking and finance across the world.

The award has been jointly established by Delloitte Consulting Malaysia and The International Institute of Islamic Finance Incorporate (IIIF) and Centre of Research and Training (CERT Event Sdn Bhd) with the objectives to recognize, reward and encourage activities that lead to the promoting of outstanding works and performance in the fields of Islamic finance by the key players in this industry. The award has been established since 2004.

GFH has won high acclaim among regional and global investors for its pioneering Shari'a-compliant regional and global investments that provide new growth opportunities to Islamic investors. The bank plays a leading role in investment advisory, infrastructure investment, property funds, private equity, venture capital and asset management.

Congratulating GFH for winning the award, Dr. Mohd Daud Bakar, President and CEO of IIIF Inc. said; "In the six years since its inception, GFH has carved a niche for itself in the regional and global Islamic banking and investment industry by offering an array of Shari'a-compliant investment opportunities. These unique investment offerings have contributed to the growth of the Islamic banking and finance sector, and we are confident that the award will further encourage the bank to pursue excellence in the Islamic banking and finance industry."

Commenting on winning the award, Mr. Esam Janahi, Chief Executive Officer of GFH said:

"Winning this prestigious award is indeed an honour for us. It further validates GFH's in-depth understanding of the sector and our focus on innovation, driven by a highly qualified Board of Directors and dedicated team."

"On behalf of the GFH Board I would also like to thank the Bahrain Monetary Agency for the active support it has extended towards the development and success of the Bank. Going forward, awards such as this will further strengthen our endeavour to develop innovative Shari'a-compliant financial products aimed at maximising investment returns," Mr. Janahi added.

In addition to past awards, the Bank has won numerous local and international awards, in 2005, including, "Financial Institution of the Year" awarded by Arabian Business, "Best Islamic Investment Bank 2005" awarded by Islamic Business and Finance Magazine, "Best Investment Bank 2005" awarded by Banker Middle East and "Best Islamic Real Estate Finance House 2005" awarded by Euromoney. Both the Chairman of the bank, Dr Fuad Al-Omar and the Chief Executive Officer, Mr Esam Janahi, have been awarded "Islamic Banker of the Year". Further to that, Mr. Janahi was also honoured as the 'The top CEO in the GCC' by Arabian Business Magazine.

GFH's flagship project is the landmark Bahrain Financial Harbour (BFH), which is being developed as an integrated financial city in Manama. The mixed-use tourism infrastructure project, Al Areen, represents the other key project undertaken by GFH in Bahrain.

In addition, GFH's regional project portfolio includes the US$1 billion Royal Metropolis project in Jordan and the US$3.8 billion Legends in Dubailand, UAE, together with the multi-billion dollar energy business centre project - Energy City-Qatar.