The honor came from the Global Investor magazine, a Euromoney publication specialized in finance and investment.

Markaz was selected based on its healthy balance sheet; the performance and diversity of its product offerings; its innovation in creating new investment products; its high level of corporate governance and its sustainable growth in market share and client base.

Amani Al-Omani, executive vice-president — MENA Equities at Markaz, said: "We would like to thank Global Investor Magazine for granting Markaz the award for the second consecutive year."

Al-Omani added: "The award reflects our prudent risk management policy at Markaz combined with our commitment to achieve the best performance for our clients by following a research driven methodology and investing in high quality asset.

He said Markaz risk management team has been adopting a conservative investment policy amidst instability in the local and international markets."