Islamic Bank of Britain wins Global Finance award

by Gill Montia

Story link: Islamic Bank of Britain wins Global Finance award

Islamic Bank of Britain (IBB) has been named the UK’s Best Islamic Financial Institution in the Global Finance magazine awards.

The Bank will formally receive the accolade in October, at a ceremony in Istanbul timed to coincide with the annual meetings of the World Bank Group and the International Monetary Fund.

IBB commercial director, Sultan Choudhury, says: “We at IBB are thrilled to receive this award … the UK is becoming well established as Europe’s Islamic Finance capital and this award places IBB at the forefront of the industry.”

Growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation were all considered in selecting IBB, which has ambitious expansion plans.

In April, the bank announced that it was intent on increasing its share of the UK mainstream mortgage market with its new House Purchase Plan.

Then in May, IBB launched a Premier Banking service for High Net Work individuals.

Customers in this category can have a dedicated Personal Relationship Manager and discuss their needs at IBB’s office in London’s Mayfair, where all staff are multi-lingual.