Celebrating Excellence in Islamic Finance: Highlights from Euromoney’s Award Ceremony
On Tuesday, May 21, 2023, Dubai’s Al Habtoor Palace became the backdrop for the prestigious Islamic Finance Awards and the Awards for Excellence Middle East dinner, hosted by Euromoney. Presented by the engaging entertainer Ben Hanlin, the evening gathered some of the most influential figures in banking and finance to celebrate outstanding achievements within the industry.
A Shift Towards Opportunity
Patrick Cooke, head of Middle East and Africa at Euromoney, opened the evening with insightful remarks that highlighted the unique economic landscape of the Gulf region. Cooke remarked, “While much of the world is busy managing risk, this region is embracing opportunity,” emphasizing the shift from oil exportation to a thriving economy fueled by ambition and innovation.
Award Highlights: Recognition of Excellence
In a night filled with accolades, Emirates NBD stood out, claiming the title of Middle East’s Best Bank for 2025. This award reflects the bank’s exceptional performance across various business lines, recording a staggering profit-before-tax growth of 15% year-on-year, reaching a record Dh27.1 billion ($7.38 billion). Additionally, Emirates NBD excelled in environmental sustainability, earning the title of Middle East’s Best Bank for ESG after facilitating $11.9 billion in sustainable finance, representing 39.6% of its ambitious $30 billion target for 2030.
HSBC was also recognized for its leadership, receiving the award for Middle East’s Best Investment Bank. The bank’s continued dominance in debt and equity capital markets was evidenced through landmark transactions, including Saudi Arabia’s SAR-denominated sukuk and a GBP-denominated bond for the Public Investment Fund (PIF).
The innovation in digital banking was spotlighted with Wio Bank being awarded Middle East’s Best Digital Bank for its impressive rapid growth of its Wio Business and Wio Personal platforms. Notably, Emirates Islamic Bank was honored as the World’s Best Islamic Digital Bank, thanks to its dynamic product expansion and the success of its flagship EI+ app.
Social Responsibility and Corporate Excellence
The ceremony also recognized institutions committed to social impact and corporate responsibility. Arab Bank was named Middle East’s Best Bank for Corporate Responsibility, lauded for its extensive social initiatives. Meanwhile, Mashreq secured the title of Middle East’s Best Bank for Large Corporates, emphasizing its commitment to supporting large-scale enterprises.
On the global stage, Standard Chartered Saadiq was awarded World’s Best Islamic Bank for 2025, while Bank Syariah Indonesia earned the title of World’s Best Islamic Bank for ESG, affirming their commitment to sustainable and ethical banking practices.
Explore the Achievements
For those interested in the details behind these accolades, a comprehensive list of winners from both the Awards for Excellence Middle East and the Islamic Finance Awards is available. Recognizing what sets these institutions apart provides valuable insights into the best practices in banking and finance today.
Curious onlookers or future participants in financial excellence can find a taste of the evening’s celebration in the photo gallery, showcasing the vibrancy and significance of the event.
Inquiries about accreditation programs or a chance to be part of next year’s awards can be directed towards Euromoney’s team, as they eagerly anticipate another year of celebrating financial achievements and innovations.
