KUALA LUMPUR (Dec 20): Bank Islam Malaysia Bhd has been named as Malaysia's strongest Islamic retail bank for 2020 by the Cambridge International Financial Advisory (Cambridge IFA) at the sixth Islamic Retail Banking Award 2020, held virtually on Dec 15, 2020.
In a statement today, Bank Islam said this was the second time that it received the award, which it won for the first time back in 2015.
Chief executive officer Mohd Muazzam Mohamed said the title demonstrates the bank's readiness to become the first and only listed Islamic bank in Malaysia and the region.
"Hence, we will continue to innovate and deliver comprehensive financial solutions by leveraging the latest technological advancements to cater to the needs of a diversified portfolio of customers, while continuing to deliver value for our stakeholders," he said.
The Islamic Retail Banking Award was hosted by Cambridge IFA — a UK-based financial intelligence house — to highlight, acknowledge, and honour success stories in the Islamic retail banking sector.
The adjudication of the award winners was based on a path-breaking Islamic banking efficiency study conducted by Cambridge IFA, which ranks over 130 Islamic retail banks.