Al Baraka Banking Group was named 'Best Regional Bank' at the Annual Islamic Business and Finance Awards ceremony.
Held at Emirates Towers Hotel, Dubai, the awards ceremony celebrated achievements of top Islamic bankers, financiers and Islamic banking and finance institutions and, where a total of 30 awards were given away.
Gulf-based institutions and individuals competed head-to-head with their international peers, taking home more than two thirds of the awards.
Other winners were drawn from the UK, US, Malaysia, Luxembourg and Sudan.
"Winning this award motivates us to continue work on the implementation of our strategies with a view to serving the development needs of the countries in which we operate, in addition to providing innovative Islamic banking services and products in line with the evolving needs of our customers and the countries in which we operate or have business relationships through our banking units or representative offices," said Al Baraka Banking Group president and chief executive Adnan Ahmed Yousif.
"It is also an international recognition of the outstanding achievements of the group."
The Islamic Business & Finance Awards running for its fifth year, is considered to be one of the most prominent events in the finance industry in the Gulf region.
The annual ceremony was designed to highlight, encourage and reward the exceptional performance and growth of the Islamic business and finance community.
These awards are now widely considered as a benchmark of excellence in the industry.
Muscat bourse falls on selling pressure
Selling activity in large caps weighed on the MSM 30 Index, which declined by 0.44 per cent to close at 5,537.97 points. The MSM Sharia Index closed at 849.37 points, down by 0.39 per cent.
Banks plan to leave UK over Brexit: Official
Big international banks are preparing to move some of their operations out of Britain in early 2017 due to the uncertainty over the country’s future relationship with the European Union, a top banki