Bank AlJazira celebrates a new award, which added to its series of consecutive success and achievements, by recently winning the Best Islamic Retail Bank.

The award was decided by a Critics Choice Award Committee, and was presented to Bank AlJazira during the recently conducted 7th World Islamic Banking Conference that took place in Dubai, organized and developed by Cambridge IF Analytica, a UK-based Islamic finance intelligence specialist, and Fleming Gulf Foundation.

Khalid Al-Othman, Bank AlJazira’s SVP and head of retail banking group, said: “This achievement ensures Bank AlJazira's leadership in Islamic retail bank, and this trophy comes to us as a reward for the successful journey of the bank in the retail banking sector despite the aggressive competition.”

Al-Othman added that this great achievement would not have happened without the continuous support and efforts of the group and members of the Islamic Retail Bank and all the bank staff and their dedication.

Professor Humayon Dar, chairman of HD-Edbiz Group of Companies, of which Cambridge IF Analytica is a member, said: “Islamic retail banking comprises over 70 percent of the global Islamic financial services industry, and it is a pleasure to commemorate the success of what may be termed as the ‘Queen of Islamic banking and finance." The bank is also known for its excellence via its electronic channels, he added.

Under the Islamic Retail Banking Awards, there are two types of awards to be presented to some of the most successful Islamic retail banks around the world. The first category is called Strongest Islamic Retail Bank. The selection was made based on a rigorous Islamic banking efficiency study soon to be launched by a Dubai-Based Islamic finance think tank. The second category is called Critics Choice Awards for which an awards committee selects the winners,” Professor Dar added.