Prince Alwaleed Bin Talal honoured for humanitarian contribution to Islam

Under the name and patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the awards ceremony, hosted by the Saudi Economic & Development Company (SEDCO) was the social highlight of the International Islamic Finance Forum (IIFF).

A total of 28 awards were presented on the night by Sheikh Hasher bin Maktoum Al Maktoum, Director General, Department of Information. Master of Ceremonies, Shanaz Pakravan, a leading regional media figure, introduced the awards under three main categories; Life & Continuing Contribution Awards, Global Continuing Contribution to Islamic Finance and Regional Continuing Contribution to Islamic Finance. Industry professionals, financial institutions and financial media organisations were nominated for the most prestigious international awards in Islamic finance.

In the Life & Continuing Contribution Awards section, five further awards were presented to Saeed Ahmed Lootah of Dubai Islamic Bank who won 'Founder of the First Islamic Bank' and Sheikh Mohammed bin Mahfouz of Saudi-based SEDCO was recognised for their considerable 'Contribution to Islamic Funds'.

The 'Life and Continuing Contribution to Islamic Finance' was awarded to Sheikh Saleh Abdullah Kamel of another Saudi-based company, Al Baraka Group, Esam Janahi of Bahrain-based Gulf Finance House picked up the award for 'Contribution to the Development of Islamic Private Equity' and the final prize in the category went to Majid Al Refai of Unicorn Investment Bank, also based in Bahrain, for their outstanding 'Contribution to Islamic Investment Banking'.

"The judges were confronted with an impressive list of candidates for these awards. Due to the huge growth in Islamic finance and product in recent years, the judging process was extremely meticulous," said Christianna Tsiterou, Director of IIFF.

All award nominees were put through a rigorous process where each judge commented independently and anonymously on every award nominee. After receiving each other's comments, the votes were cast and the majority vote received the award. The distinguished panel of judges came from varying backgrounds; Sheikh Yussuf Talal De Lorenzo and Dr. Mohammed Daud Bakar, are both eminent Shariah Scholars, Professor Monzer Kahf, is an economist with sound knowledge of Shariah issues, as well as Michael Saleh Gassner, a renowned consultant, market analyst and publisher.