Sharjah Islamic Bank (SIB), won the 'Best Islamic Bank' and the 'Most Innovative Digital Bank' award 2020, at the 8th International Finance Award (IFA), which highlights the achievements of all banks providing outstanding services across areas of innovation, infrastructure development and customer focus. The winners will be honoured during a ceremony due to be held early next year.

SIB was recognized as the Best Islamic Bank for its provision of services, adhering to the Islamic law, which has strongly reflected in the financial results achieved by the bank. Winning the title of the Most Innovative Digital Bank reveals the effective and proactive approach undertaken by SIB, in introducing information technology-focused programs that have helped foster growth and a culture of excellence in the region.

Introducing innovative concepts -

His Excellency Mohamed Abdalla, CEO of Sharjah Islamic Bank, said: “Honoring SIB with two prestigious awards is a great acknowledgement of our efforts and quality of services. Over the years, the bank has succeeded in providing distinguished services to individuals and corporate clients, whilst introducing innovative concepts that have also significantly helped improve the quality of work. We take pride in offering our clients modern Sharia compliant services that are in line with international standards.”

His Excellency added: “These awards represent our efforts in establishing a culture of excellence by providing innovative services by keeping pace with the advancement in modern technologies. We understand the importance of providing distinct and unique experiences to our customers and are constantly introducing services to enhance the customer experience. Winning the Innovative Digital Bank award is a testament of SIB’s strong digital presence and provision of digital services.”

Prestigious awards 

Sharjah Islamic Bank has won several prestigious awards in recognition of its innovative digital solutions and distinguished services, including the Mohammed Bin Rashid Al Maktoum Business Innovation Award, Pioneer Organization for Emiratization – GCC Labor Ministers Council and the Wells Fargo Operational Excellence Award. For excellence in banking transactions for transfers, SIB was awarded five stars by the Brokers Evaluation Program and also won the Global Capital’s CEEMEA Financial Institution Deal of the Year, confirming the strength and position of the bank.

Sharjah Islamic Bank is the first bank in the world to have converted from a conventional bank to one that works under the provisions of Islamic Sharia, in addition to launching the Sukuk al-Musharaka, as the first Sukuk classified by an Islamic bank in the Arab Gulf region. SIB is also the first bank to introduce ATM services for the blind and people of determination in UAE. The bank has also launched a zero profit finance scheme for education & Hajj & Umrah, these facilities adding to the list of achievements by the bank over the years.

Sharjah Islamic Bank is constantly striving to provide all electronic services and facilities, designed to meet the requirements of the retail and corporate customer base during the current period. The bank seeks to extend support to the nation under the slogan, ‘We Commit Until We Succeed’, that aligns with the UAE Vision 2021, aimed at building a creative, high standard and competitive knowledge-based economy.

This year's International Finance Awards saw participation from more than 1000 C-level executives and senior management representatives in the areas of finance, banking, asset management, brokerage, insurance, energy, oil and gas, logistics and utilities. The Banking Awards highlight the achievements of all banks that provide excellent services in the field of innovation, infrastructure development and customer experience.