Euromoney magazine has named Abu Dhabi Islamic Bank (ADIB) as the “Best Islamic Bank in the UAE” and awarded the top-tier financial services group its “Islamic Finance Deal of the Year” title for its role in arranging a US$ 1.85 billion refinancing package for Jebel Ali Free Zone (Jafza).

Chief Executive Officer, Tirad Al-Mahmoud received the awards in London at an event to mark the Euromoney Islamic Finance Awards, which recognize excellence in financial services.

“ADIB had a very successful year as the performance of the main banking activities remained strong. The Bank welcomed its 500,000th customer in 2012 and maintained its leadership position in customer service excellence. I am very pleased that our efforts in this regard have been recognized by a respected publication such as Euromoney,” said Tirad Al-Mahmoud.

“The banking industry is going through big changes globally as there is enormous demand for ethical banking, and I think ADIB is doing its part to push the ethical banking agenda, by giving customers simple and transparent solutions that are right for them.”

In addition to these two awards, ADIB’s issuance of the hybrid Tier-1 Sukuk was selected by Euromoney magazine as the “Islamic Deal of the Year” and was announced in their February issue.

ADIB’s latest awards follow a number of other awards that the bank has recently picked up including “Best Islamic Bank Globally” presented by Islamic Finance News, Gold Category in Sheikh Khalifa Excellence Award and Best Bank in Customer Service for the 2nd consecutive year. ADIB’s issuance of a $1 billion perpetual tier-one Sukuk in late 2012 was also recognized by Thomson Reuters’ IFR magazine as the best Islamic bond of the year.

The Euromoney awards are one of the leading awards in the Islamic finance industry globally. Now in their 12th year, the awards are widely regarded as the benchmark awards for the global Islamic finance industry.

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