QInvest, Qatar’s leading Investment Bank and one of the most prominent Islamic financial institutions in the world, won the Global Finance “Best Islamic Fund Manager” award. The Awards Ceremony for all winners took place on October 12, 2013 at The National Press Club in Washington DC.
Global Finance magazine has announced its sixth annual awards for the World’s Best Islamic Financial Institutions. The winners of this year’s awards are those banks that contributed to the growth of Islamic financing and successfully met their customers’ needs for Sharia’a-compliant products, while creating the foundation for continued growth and safety in the future, with modern and efficient delivery channels.
All selections were made by the editorial team of Global Finance, after extensive consultations with bankers, corporate finance executives and analysts throughout the world. In selecting these top banks, Global Finance considered factors that range from the quantitative objective to the informed subjective. Quantitative criteria included growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products. Among the subjective criteria considered were reputation, customer satisfaction, and the opinions of analysts and others involved in the industry.
“Sharia’a compliant finance remains the fastest-growing area of finance worldwide, with more than 500 financial institutions that are either fully Islamic or provide Islamic financial products to their customers, in addition to several hundred more Islamic investment banks and insurance companies, or takaful,” said Global Finance’s publisher, Joseph D. Giarraputo.
He added: “The winning banks were all noteworthy in their dedication to satisfying their customers’ increasingly sophisticated needs in accordance with the rules of Islamic finance.”
QInvest was honored exclusively the “Best Islamic Fund Manager” Award among other awards including:
- Best Sukuk Bank: HSBC
- Best Islamic Retail Bank: Abu Dhabi Islamic Bank
- Best Takaful (Insurance) Provider: Etiqa Takaful Berhad
- Best Shariah-Compliant Index Provider: Dow Jones Islamic Market Indexes
- Best Islamic Project Finance Provider: Samba
- Best Islamic Commodities Provider: International Islamic Trade Finance Corporation
- Best Islamic Real Estate Finance Provider: Qatar Islamic Bank
- Best Up-and-Comer: Boubyan Bank
- Islamic Finance Deal of the Year: Jebel Ali Free Zone Islamic financing facility and sukuk
“QInvest is delighted to be recognized by Global Finance for the ‘Best Islamic Fund Manager’ award. We have announced the launch of the QInvest Managed Account Platform (QMAP) in 2013, as the world’s first open architecture Sharia’a compliant managed account platform. Our aim was to provide investors with the opportunity to select from a range of high quality funds that are managed by top tier professional teams” said Tamim Hamad Al-Kawari, QInvest CEO.
Al-Kawari added: “QMAP is a pioneering solution managed by professional team of experts and associated with world class groups. The new platform brings quality and choice to our shareholders and investors, especially those seeking investment solutions that comply with Islamic Sharia’a.”
Global Finance Award complements QInvest’s new strategy that has streamlined the bank into three divisions; Investment Banking, Principal Investments and Asset Management, in order to focus the business on its core product and service offers. The bank’s new strategic direction will further build on QInvest’s leading regional position while focusing the business on the most lucrative market opportunities. The aim is to ensure that QInvest is structured to fully support Qatar and the wider region’s international investment plans as well as ensure that it is recognised as the gateway for investors looking to access Qatar’s fast growing dynamic economy.
QInvest is committed to continually offering innovative financial solutions which deliver high quality products and services to clients covering advisory, financing and investment activities. This award is a significant achievement for the experienced and talented team QInvest has assembled. It demonstrates the firm’s progress in the past year positioning QInvest for solid future growth.
Click here: Best Islamic Financial Institutions Awards 2013