BAHRAIN, 18 February 2004 — Bahrain-based Gulf International Bank (GIB) has won the “Best Investment Bank in the GCC” award from Banker Middle East, a financial magazine published in Dubai. The magazine organized the award scheme last month in an effort to recognize and award excellence in banking within the GCC. The process involved short-listing leading banks in various categories and then allowing readers to select the best banks by voting on the Internet.
The GCC banking awards 2004 were held under the patronage of Sheikh Mamdan ibn Rashid Al Maktoum, deputy ruler of Dubai and minister of finance and industry.
Dr. Mohammed Khalfan ibn Kharbash, UAE minister of state for finance and industry, delivered the awards to the winning banks in a special ceremony in Dubai on Monday.
“We’re very pleased to receive such an award, which recognizes our leadership in investment banking in the Gulf. The implementation of our new merchant banking strategy, which started in 2002, has strengthened GIB’s financial position and increased penetration in the GCC markets,” said Dr. Khaled M. Al-Fayez, GIB’s CEO, “The award also demonstrates GIB’s continued commitment to GCC economic development and its key role in supporting government, private and public institutions in the region,” he added.
GIB, a leading merchant bank in the region with its principal focus on the GCC states, has won several other prestigious awards over the past five years, including “Best Bank in the Middle East” from Euromoney in 2001 and “Bank of the Year for Bahrain” from the Banker in 2000.