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Islamic Finance news (IFN) Awards Polls are the most transparent, definitive and competitive awards in Islamic finance. They are based on a unique poll which is the only true reflector of the global Islamic financial markets. The fifth annual Islamic Finance news poll results are in after votes were cast over a month-long period.

Islamic Finance news is the industry’s leading capital markets focused e-newsletter and features weekly editorial coverage of the global Islamic financing markets. The IFN Awards Polls recognizes the best providers of Islamic financial services across a series of markets and sectors as voted by readers of Islamic Finance news, who include Islamic finance issuers, investors, non-banking financial intermediaries and government bodies from around the world.

In the ‘Best Overall Islamic Bank’ category for the IFN Awards Polls 2009, Malaysia’s CIMB Islamic Bank emerged at the top spot, closely followed by the previous award winner for two years, Kuwait Finance House. Saudi Arabia’s Al Rajhi Banking and Investment Corporation maintains the third position that it attained the previous year.

The favorite in the ‘Best Central Bank in Promoting Islamic Finance’ category, Bank Negara Malaysia, has been voted for the fifth year in a row for the top spot. Its previous closest rival, State Bank of Pakistan, is notably absent this time and in second place is the Central Bank of Bahrain. A new comer taking the third spot is the Central Bank of UAE.

In the `Best Individual Islamic Banker 2009’ category the ten most voted for individuals will now go head-to-head in a final vote. They are Abdullah Sulaiman Al Rajhi, CEO of Al Rajhi Bank; Adnan Ahmed Yousif, President & CEO of Al Baraka Banking Group; Afaq Khan, CEO of Standard Chartered Bank; Badlisyah Abdul Ghani, CEO of CIMB Islamic Bank; Dr Ahmad Mohamed Ali, President of Islamic Development Bank; Humphrey Percy, CEO of Bank of London and the Middle East; Jamelah Jamaluddin, Managing Director of RHB Islamic Bank; Mohammed Sulaiman Al-Omar , CEO of Kuwait Finance House; Richard Thomas, CEO of Gatehouse Bank; Zukri Samat, Managing Director of Bank Islam Malaysia.

In the Best New Islamic Bank category Ajman Bank from the UAE emerged as the winner.

In other categories, Norton Rose retained its award for the Best Law Firm in Islamic Finance; Moody’s Investors Service was voted Best Islamic Rating Agency; Path Solutions is the Best Islamic Technology Provider; CIMB-Principal Asset Management is named Best Islamic Fund Manager; and Takaful Ikhlas is recognized as the Best Takaful/re-Takaful Provider for 2009.

In the Best Islamic Banks by Country category, there were 11 new countries on the list, with notable wins for BNP Paribas (France), First Community Bank (Kenya), Arab Finance House (Lebanon), Bank Muscat (Oman), Qatar Islamic Bank (Qatar), Absa Islamic Bank (South Africa), Amãna Investments (Sri Lanka), Syria International Islamic Bank (Syria), Islamic Bank of Thailand (Thailand), Bank of London and the Middle East (UK), and Tadhamon International Islamic Bank (Yemen).

Methodology: Forty-five categories were contested in the 2009 polls, nine more than the previous year. Participants were requested to take only 2009 into consideration when casting their votes. All votes were screened and only those passing the strict due diligence process were counted.

Voters could not vote for themselves or associated organizations and could only vote once. All votes were scrutinized and validated before being recognized.

Winners will receive the prestigious awards at two special Awards Ceremonies: The first will take place on the evening of the 3rd March 2010 at the Mandarin Oriental Hotel in Kuala Lumpur, followed by another at the Jumeirah Emirates Tower on the 8th March 2010.

Full Results: