Bank ABC Islamic declared Best Islamic Financial Institution in Bahrain for the second consecutive year

(MENAFN- Bank ABC) Manama, Bahrain: Bank ABC Islamic, the Islamic Finance arm of Bank ABC, has won the title of ‘Best Islamic Financial Institution in Bahrain’ at Global Finance’s World’s Best Islamic Financial Institution Awards 2024. This prestigious recognition attests to Bank ABC Islamic’s robust financial performance, commitment to continuous digital transformation, and strategic expansion while consistently offering customers tailored Islamic Finance solutions.
This year’s award winners have been selected by leading industry experts for excelling in product innovation, range and quality of service, financial results and good governance. Bank ABC Islamic has stood out in all these aspects, and for having made a significant contribution to Bahrain’s Islamic Finance landscape by offering expertise-backed Shari’a-compliant products through modern delivery channels.
Commenting on this achievement, Hammad Hassan, Managing Director, Bank ABC Islamic & Group Head of Islamic Banking at Bank ABC, said, “We are honoured to be awarded this title for the second year in a row by a reputed platform like Global Finance. This award strengthens our resolve to continue on the journey to digital transformation, expand our reach in the MENA region and fulfill our clients’ needs with personalised Islamic Banking solutions. I thank the team at Bank ABC Islamic for their continued dedication, and our parent, Bank ABC, for their unwavering support and trust.”
Joseph Giarraputo, Global Finance President & Editorial Director said, “ABC Islamic provides a wide portfolio of Sharia-compliant products and services, supported by superior technology. This is demonstrated in offering its retail customers an exclusively digital Islamic portal, alburaq. ABC Islamic continues to launch transformative digital enhancements that are unrivalled in Bahrain.”
With expertise in Islamic principles and modern finance, Bank ABC Islamic offers a broad portfolio of Islamic banking products and Islamic financial services in compliance with Shari’a law and principles. Besides its reputed Islamic Corporate Banking proposition, Bank ABC Islamic caters to retail customers via alburaq, an exclusively digital Islamic banking proposition offered through ila Bank on its award-winning ila app in Bahrain.
Playing a leading role as the Sole Arranger, Structurer, Sukuk Structuring Bank and JLM in the historic corporate sukuk issuance with Air Lease Corporation, the second-largest aircraft leasing company globally, has brought to light Bank ABC Islamic’s superior thought leadership and expertise. This award-winning, landmark US$600 million corporate sukuk issuance is the first ever Sukuk offering from a North American corporate borrower.
As part of its strategic transformation, the Bank has enhanced its Islamic liability platform and launched digital platforms for cash management and supply chain finance tailored to clients.
In the face of challenging global economic conditions, Bank ABC Islamic has demonstrated exceptional resilience and innovation in delivering high-quality Islamic finance solutions tailored to each client’s unique requirements. This has been achieved by leveraging cutting-edge technology, a global footprint with local expertise, and in-depth sectoral insights, ensuring its leading position in the Islamic Banking industry.

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