ICD honored for excellence

The achievements, innovations, and excellence in the international Islamic banking and finance industry were recognized at the 19th Annual World Islamic Banking Conference (WIBC 2012) held at the Gulf Convention Centre in Bahrain recently. The annual WIBC Awards, which are among the oldest and most prestigious in the world, are designed to recognize individuals and institutions that have made a significant contribution to the Islamic banking and finance industry.
The awards were presented to the winners at an impressive gala dinner and awards ceremony held on the sidelines of WIBC 2012. More than 1,200 industry leaders from over 50 countries attended WIBC 2012 event recently.
Based on select criteria assessed by the WIBC Awards Committee, the WIBC Institutional Excellence Award 2012 was presented to the Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank Group (IDB Group), Saudi Arabia.
Receiving the award, Khaled Al-Aboodi, CEO & GM of ICD, said: “Receiving this award is a major achievement for ICD as it comes at a time when a combination of factors — social unrest in some member countries, increased cost of funding and lingering effects of the global financial crisis — added further challenges for ICD to execute its strategy as planned. ICD firmly believes that Islamic finance has significant real economy value-adding potential and can provide a substantial contribution to financial inclusion and economic development in its member countries.”