04 March 2020
Ahli United Bank Earns the Fastest Growing Banking Solutions Award
In a new accomplishment to be added to its record of achievements, which strengthen its leading position in the banking industry, Ahli United Bank (AUB) was named the “Fastest Growing Sharia’ah Compliant Banking Solutions in Kuwait Award 2019” by International Finance (IF), a renowned world class business and finance magazine.
IF relied in bestowing this award to AUB on a set of criteria, with the foremost being that AUB’s Internal Shari’ah Audit is the first of its kind to adopt a risk-centric Shari’ah audit approach in Kuwait since 2017. In addition, Internal Shari’ah Audit includes a group of qualified Shari’ah audit professionals who combine banking expertise as well as Shari’ah audit, supervisory knowledge and experience. This highlights the success of AUB’s in enabling the role of Shari’ah Supervisory Board to develop banking products and services, support developing AUB’s business operations in alignment with Shari’ah principles, ensure AUB carries out its business activities in compliance with the Islamic banking principles, and innovate new Sharia’h compliant banking solutions.
The awarding institution announced that the first level of evaluation was done by an Internal Evaluation Team, after which, the details are forwarded to an External Evaluation Agency to perform with the final level of evaluation. Upon receiving the evaluation report, IFM announced the awards’ winners on their website..
Abdullah Tareq Al Shuaib, Head of Internal Sharia’h Audit at AUB, received the award during the award ceremony held in the United Arab Emirates.
Commenting on this achievement, Dr. Anwar Ali Al Mudhaf, AUB Board Chairman, shared his heartfelt congratulations to all AUB staff , especially Fatwa & Shari’ah Supervisory Board (FSSB) for playing a major role in overseeing all AUB’s banking transactions, products and services to ensure compliance with Islamic Shari’ah laws.
Dr. Al Mudhaf underlined that since converting its business activities to comply with Islamic Shari’ah on the 1st of April 2010, AUB has been unlocking its utmost potential and leveraging its long established experience spanning over 78 years of the Kuwaiti market to provide a unique set of Shari’ah compliant, state of the art banking services.
Al Mudhaf also emphasized that AUB winning this award is a clear demonstration of its successful application of Islamic Shari’ah principles. It also reflects AUB’s endeavors to achieve its goal of promoting its status as the most preferred for clients who seek to the best Shari’ah compliant products and services that meet their requirements and improve their standard of living beyond their expectations. We are, therefore, motivated to exert our utmost efforts to provide the best Islamic banking solutions that continue to attain the trust and satisfaction of our clients”.