Under the patronage of HRH The Prime Minister of Bahrain, the 26th anniversary edition of The World Islamic Banking Conference (WIBC), the largest and longest-running gathering of Islamic banking and finance leaders in the world, saw over 1000 Industry leaders from various markets comprising the Middle East, Africa, Asia, Europe & America congregate from 2nd – 4th December in Bahrain – the host nation of WIBC for the past two decades.
Convened by Middle East Global Advisors – a leading financial intelligence platform facilitating the development of knowledge-based economies in the MENASEA markets and in strategic partnership with the Central Bank of Bahrain, the forum focused on “Mega Trends in Banking and Finance”.
Mazin Al-Nahedh, Group Chief Executive Officer, Kuwait Finance House, Winner of the Best Islamic Digital Bank said, “Banks are investing in their own technology, as well as collaborating with FinTechs, to gain new capabilities. Simultaneously, digital banks were noted to be emerging as a direct competitor to the large institutions, taking advantage of technology and low operating costs to potentially provide cheaper products than traditional banks while meeting growing consumer demand for digital services. Competition between banks and new entrants may give way to direct collaboration across the Fintech ecosystem”.
WIBC Performance Awards were presented by Adnan Ahmed Yousif, President & Chief Executive, Al Baraka Banking Group, Chairman, Bahrain Association of Banks (BAB), to the top performing Islamic financial institutions based on their performance in the WIBC Leaderboard – a groundbreaking performance assessment tool aimed at enabling Islamic financial institutions to benchmark their performance against their peers.
Al Rajhi Bank bagged the Best Performing Bank Award for Global & MENA regions, testament to its strong performance in the financial metrics of the WIBC Leaderboard.
Other winners at the 26th Annual WIBC Performance Awards included:
• Best Performing Bank – Levant – Jordan Islamic Bank
• Best Islamic Bank for Sustainable Initiatives – Al Baraka Banking Group • Best CSR Islamic Banking Group – Abu Dhabi Islamic Bank
• Best Islamic Bank (Financial Performance) – Dubai Islamic Bank
• Best Islamic Bank (Financial Stability) – Kuwait Finance House
• Best Islamic Digital Bank – Kuwait Finance House
• Fastest Growing Islamic Fintech bank – Ithmaar Bank
• Best Islamic Investment Bank – GFH Financial Group
• Top Law Firm for M&A – MENA – Baker McKenzie
• Top Advisory Firm for M&A – MENA – J.P. Morgan
• Top Consultancy Firm for M&A – MENA – PwC
Since its inception 26 years ago, WIBC has been a significant contributor to enhancing growth, excellence and innovation in the Global Islamic Finance and Banking industry. Time and again, the conference has proven to be an ideal launching pad for research and intelligence reports, arming Industry leaders with pragmatic insights to help shape their organization’s strategic planning activities.
Partners at The 26th WIBC included: Kuwait Finance House, Ithmaar Bank, Khaleeji Commercial Bank (KHCB), Bank ABC Islamic, Bahrain Islamic Bank (BisB), First Energy Bank, Al Baraka Banking Group, GFH Financial Group, AAOIFI, The Perth Mint, Moody’s Investors Service, Bank Islam Brunei Darussalam (BIBD), Eiger Trading, DDCAP Group, Keypoint, FitchRatings, Tejoury, GPS, Sadad, Directorate of International Programmes, ANO, IMTF and Mazars. Supporting Partners: Bahrain Association of Banks & Arab Bankers Association, Official PR Partner: TRACCS.
Gulf Insider was the Media Sponsor for the 26th WIBC.