Dubai – UAE, January 13th, 2014: Mashreq Al Islami, the Islamic banking division of Mashreq was a proud recipient of the Best Islamic Window for the third time at the recent Banker Middle East Islamic Business & Finance Awards 2013. The recently held awards saw the attendance of various financial institutions, both locally and regionally.
Mashreq Al Islami previously won this award in 2010, 2011 and now in 2013.
The Islamic Business & Finance Awards were established in 2005. The aim of the process is to recognize the best performing institutions in a variety of regions where Islamic finance is either already developed or is rapidly expanding. The event is truly global and attracts nominations and submissions from Europe, Americas, Africa, Middle East and Asia.
A panel of judges has nominated institutions across 40 categories based on their industry expertise. Winners were chosen based on the institutions' overall performance, innovations, improvements and growth over the last 12 months.
Tooran Asif, Head of Personal Banking in Mashreq, Moinuddin Malim, CEO of Mashreq Al Islami, Momim Hyat, Manager Sharia'h Governance & Compliance at Mashreq Al Islami and Salman Ahmed, Business Manager – Islamic Banking at Mashreq attended the awards ceremony representing the Bank.
“We feel overwhelmed to win the Best Islamic Window award for 2013; this is the recognition of the significant leap we have taken in enhancing our Islamic Banking Proposition this year, which includes the launch of an Ujrah based Islamic Credit Card, launch of Gold (Premium Banking) Proposition and Business Banking Proposition, Takaful Solutions via region's leading provider and award winning in-house Islamic Wealth Management solutions among many other proposition enhancements. We have also launched an advanced online banking and mobile banking platform for our customers, which is unmatched amongst the competition. Islamic Banking is an area of growth for us and we feel very much geared up and equipped to take this forward now”, said Tooran Asif, Head of Personal Banking at Mashreq.
Mashreq Al Islami continues to expand its Sharia'h Compliant product offerings to cater to customer requirements and further strengthen its Islamic banking proposition. Since the rebranding in March 2010, Mashreq Al Islami has focused on offering a full suite of Sharia'h Compliant products and services, with a host of new products launched for both retail and corporate customers. Mashreq Al Islami also provides Islamic Advisory Services, Structuring Finance Solutions, Sukuk Advisory, Islamic Investment Products, and Islamic Treasury Products. On the retail side, Mashreq Al Islami offers a comprehensive suite of Islamic Wealth Management Products, including the award winning Mashreq Al Islami – Income Fund, Murabaha Sukuks & Funds Financing, Murabaha Shares Financing, Islamic Structured Investments, through its Shariah Certified Relationship Managers. MAI also offers Ijarah Home Financing, Car Financing, & Personal Financing on attractive profit rates, specially designed Takaful & Savings Plans through its wide network of branches across the UAE. MAI also offers attractive profit rates on its Mudaraba Savings & Term Deposit Accounts. The recently launched Mashreq Al Islami Credit Card comes with a host of umatched benefits and has an advantage of one of best rewards program, ‘Salaam', in the UAE.