ISLAMIC FINANCE & WEALTH MANAGEMENT

13 May 2024: Here is the awards rationale for the 16th Annual Islamic Finance Awards 2024 & 17th Annual Private Wealth Awards 2024 for the following award categories.

We have over the last decade continued to refine and develop a unique, fair, robust and informative methodology and by adding a number of new criterions to existing awards, we have broadened the depth of our awards and tightened its eligibility among leading banks in Southeast Asia.

To download the PDF, please click here.

INDONESIA:

  1. Best Islamic Finance Bank: Bank Syariah Indonesia
  2. Best Islamic Finance Wealth Management Bank: Bank Syariah Indonesia

Formed as an enlarged entity via the merger of three large well established Islamic finance banks, Bank Syariah Indonesia (BSI) is forward thinking at its best. Following the merger, the enlarged group has not only widened its regional Islamic banking footprint but is now able to eliminate duplication and increase its breadth and depth of services in regions and segments that were previously decrepitly serviced. As a universal bank with multiple competitive advantages in strategic segments, BSI represents an almost seemingly impossible dream for most Indonesian banks. With an independent shariah board of advisers and helmed by skilled professionals well-versed with the intricacies of the dual banking system under the purview of OJK (Financial Services Authority), BSI is today a dominant force in shariah-compliant retail solutions in Indonesia. While most banks are reporting stagnant growth rates, profit for the latest financial year (net income) remains up year-on-year while total assets at the bank has proportionally grown too, making BSI the Best Islamic Finance Bank and Best Islamic Finance Wealth Management Bank.

3. Best Islamic Finance Sukuk House in Indonesia: Aldira Sekuritas

As a leading and emerging Sukuk House, Aldira Sekuritas has long excelled in the conventional bond market, helping raise trillions in IDR equivalents for leading corporates across the credit curve. It has done the same within the fast growing Islamic finance Sukuk space, structuring unique transactions, large and niche for local and foreign fixed income investors. Aldira Sekuritas has also lend its expertise advising the private sector on how best to move ahead with its Sukuk framework governing islamic finance issues in the country, making Aldira Sekuritas the go-to sukuk house when it comes to Sukuks.

MALAYSIA:

1. Best Islamic Finance Bank: Maybank Islamic

Maybank Islamic is one of Malaysia’s leading, most agile banks catering to both retail depositors seeking shariah-compliant products and shariah-conscious corporates in Malaysia, and overseas. As part of the Maybank Group, Maybank Islamic is able to leverage on a network of products and services across the bank and offer its clients a whole spectrum of solutions ranging across asset classes, all under one roof. As a leading player in this fiercely competitive Islamic finance space, Maybank Islamic offers shariah-compliant options to Muslim clients who wish to conform to shariah principles, making Maybank Islamic the unequivocal Islamic Finance Bank in Malaysia.

2. Best Islamic Finance Sukuk House in Malaysia:  CIMB Islamic

As the most prominent Islamic finance powerhouse in the Asian region, CIMB Islamic is the most comprehensive shariah-compliant financial solutions provider across divergent asset classes ranging from sukuk funding to retail banking. By emphasising on the provisioning of an enterprise-wide shariah-compliant framework instead of only at the product level, CIMB Islamic is widely known for its unrivalled knowledge depth in terms of shariah-compliant structures, innovation and pioneering quick thinking, making CIMB Islamic the unrivalled Best Islamic Finance Sukuk House in Malaysia.

1. Best Wealth Management Bank: Bank Central Asia

Bank Central Asia has one of the strongest wealth management platforms in the country. Apart from the normal range of credit products developed specifically for high net worth individuals, Bank Central Asia provides wide ranging advisory services for its customers. At the same time, the bank excels too, in offering a divergent range of investment products, based on a sophisticated risk/reward profile, all within regulatory and international norms. Thanks to its strong commitment to wealth management, the size of its total assets, balance sheet strength Bank Central Asia will likely remain a one-stop wealth management bank in the country for a long time to come.

2. Best Wealth Management Bank: Maybank

Maybank has grown from strength to strength over the years and continues to make significant inroads into new areas in the realm of shariah compliant wealth management. By broadening the breadth and depth of its unique wealth management offerings, the bank has excelled in a fiercely competitive niche space. Maybank not only leverages on its branch network but no doubt has made great strides in building up its online banking platform to wide its reach.

3. Best Wealth Management Bank: BDO Private Bank

BDO Private Bank is a unique institution unlike any another in the Philippines, and elsewhere. In a country where the biggest exports are its own people consisting of not only domestic workers but also lawyers, engineers, doctors, bankers and innovative entrepreneurs, BDO Private Bank has carved out a niche to service an emerging segment of wealthy individuals. The fact that the bank’s balance sheet performance has improved during the awards period while global private banks had to deal with ways to overcome crippling cutbacks combined with an all-time low confidence level in global private banks, among high net worth individuals is perhaps the greatest proof why this business model inarguably works best, winning this accolade for the seventeenth consecutive year.

4. Best Wealth Management Bank: Kasikornbank

Although Thailand has gone through a tumultuous period over the last decade, the resilience of the local economy has helped many companies and banks generate profits not seen in countries with a stable political environment and strong economic fundamentals. In such uncertain times, it is only natural for high net worth individuals to gravitate towards a safe anchor that promises consistency, stability and optimally, steady growth. Kasikornbank, appears to be one such anchor. Outstanding assets under management and fee income have both, grown during the awards period. While the wealth management industry in Thailand is in an embryonic stage, the future outlook is bright and the wealth manager is set to continue growing its market share in this segment.

MARQUEE AWARDS:

  1. Best Stock Exchange for Islamic Listings: BursaMalaysia
  2. Best Islamic Finance Technology House: Silverlake Axis
  3. Best Islamic Research: International Shari’ah Research Academy (ISRA)
  4. Best Islamic Consulting Firm: ISRA Consulting
  5. Best Shariah Advisory Firm: Amanie Advisors
  6. Best Standard-Setting Body: Islamic Financial Services Board (IFSB)

13TH ISLAMIC FINANCE AWARDS

Monday, 21 June 2021: Using a fair, robust and informative methodology and after adding a number of additional criteria to existing awards to tighten its eligibility among both, local banks in Southeast Asia, we hereby announce the outcome of our 13th Annual Islamic Finance Awards 2021 for the following (up to) 12 awards categories.

In light of the ongoing effects of Covid-19, most hotel venues are unable to host regional events. We have therefore prepared 3 options to ensure the secure delivery of the awards plaques, along with the unlimited licensing use of the awards logo ©, company name © and awards category © .

The full rationale will be published in the August/September 2021 – 15th Anniversary issue (out by mid-August 2021).

INDONESIA:

  1. Best Islamic Finance Bank: Bank Syariah Indonesia
  2. Best Islamic Finance SME Bank: Bank Syariah Indonesia
  3. Best Islamic Finance Retail Bank: Bank Syariah Indonesia
  4. Best Islamic Finance Wealth Management Bank: Bank Syariah Indonesia
  5. Best Islamic Asset & Fund Manager: Mandiri Investasi

MALAYSIA:

  1. Best Islamic Finance Bank: CIMB Islamic
  2. Best Islamic Finance SME Bank: AmBank Islamic (3rd consecutive win)
  3. Best Islamic Finance Retail Bank: Maybank Islamic
  4. Best Islamic Finance Wealth Management Bank: Maybank Islamic
  5. Best Islamic Asset & Fund Manager: BIMB Investment Management (4th consecutive win)

MARQUEE:

  1. Best Global Islamic Finance Sukuk House: CIMB
  2. Best Islamic Finance Sukuk House in Malaysia: CIMB

For queries, please email awards@whatinvestorswant.com

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12TH ISLAMIC FINANCE AWARDS

(Friday, 26 June 2020): Using a fair, robust and informative methodology and after adding a number of additional criteria to existing awards to tighten its eligibility among local Islamic finance banks in Southeast Asia, we hereby announce the outcome of our 12th Annual Alpha Southeast Asia Islamic Finance Awards 2020 for the following 14 awards categories.

In light of the ongoing lingering effects of Covid-19, most hotel venues are unable to host regional events. We have therefore prepared 3 options to ensure the secure delivery of the awards plaques, along with the unlimited licensing use of the awards logo ©, company name © and awards category ©.

THERE IS NO NEWS EMBARGO ON YOUR WINS. PLEASE FEEL FREE TO SEND OUT A PRESS RELEASE TO ANNOUNCE YOUR WINS.

The full rationale will be published in the August/September 2020 – 14th Anniversary issue (out by early late August 2020).

For queries, please email awards@whatinvestorswant.com

INDONESIA:

  1. Best Islamic Finance Bank: Bank Syariah Mandiri
  2. Best Islamic Finance SME Bank: Bank Syariah Mandiri
  3. Best Islamic Finance Retail Bank: BNI Syariah
  4. Best Islamic Finance Sukuk House: Mandiri Sekuritas
  5. Best Islamic Finance Wealth Management Bank: Bank Muamalat Indonesia
  6. Best FX Bank for Corporate Islamic Treasury: BNI Syariah
  7. Best Islamic Asset & Fund Manager: Bahana TCW Investment Management

MALAYSIA:

  1. Best Islamic Finance Bank: Maybank Islamic
  2. Best Islamic Finance SME Bank: AmBank Islamic
  3. Best Islamic Finance Retail Bank: CIMB Islamic
  4. Best Islamic Finance Sukuk House: CIMB Islamic
  5. Best Islamic Finance Wealth Management Bank: MBSB
  6. Best FX Bank for Corporate Islamic Treasury: RHB Islamic
  7. Best Islamic Asset & Fund Manager: BIMB Investment Management

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11TH ISLAMIC FINANCE AWARDS

(Thursday, 20 June 2019): Using a fair, robust and informative methodology, we hereby announce the outcome of Alpha Southeast Asia Best Islamic Finance Awards 2019 following an intensive three-weeks review of central bank data, industry and cross-sector reports.

A regional awards ceremony – covering Indonesia & Malaysia, will be held at Sofitel Kuala Lumpur Damansara, No. 6 – Jalan Damanlela, Bukit Damansara, Kuala Lumpur 50490, Malaysia on 26 September 2019 (Thursday).

If you would like to book a table at the event, please email awards@whatinvestorswant.com.

THERE IS NO NEWS EMBARGO ON YOUR WINS. PLEASE FEEL FREE TO SEND OUT A PRESS RELEASE TO ANNOUNCE YOUR WINS.

The full rationale will be published in the August/September 2019 (out by early August 2019).

ISLAMIC FINANCE:

  1. Best Islamic Finance SME Bank: AmBank Islamic
  2. Best Islamic Finance Retail Bank: Maybank Islamic
  3. Best Islamic Finance Sukuk House: CIMB
  4. Best Islamic Wealth Management Bank: Maybank Islamic
  5. Best FX Bank for Corporate Islamic Treasury: CIMB
  6. Best Islamic Asset & Fund Manager: BIMB Investment Management
  1. Best Islamic Finance SME Bank: BNI Syariah
  2. Best Islamic Finance Retail Bank: Bank Syariah Mandiri
  3. Best Islamic Finance Sukuk House: Danareksa Sekuritas
  4. Best Islamic Wealth Management Bank: Bank Muamalat Indonesia
  5. Best FX Bank for Corporate Islamic Treasury: Bank Syariah Mandiri
  6. Best Islamic Asset & Fund Manager: Bahana TCW Investment Management

For queries, please email awards@whatinvestorswant.com

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