Abu Dhabi, 17 October 2023: Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has been named the Best
Bank in the UAE by Global Finance Magazine 2023. The bank was recognised also as the Best Islamic Bank in the UAE and Egypt, as a testimony to its strong presence and performance in the region. The award ceremony was held in conjunction with the 2023 annual meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) in Marrakesh.
In addition, ADIB maintained its notable ranking from last year as the Safest Islamic Bank Globally. This indicates its solid financial position, efficient risk management, and advanced cybersecurity systems, in addition to the strong ratings it has obtained from leading rating agencies.
ADIB was named the Best Islamic Bank globally for ESG, highlighting the bank's commitment to sustainable finance and leadership in the Islamic banking industry. The Bank's efforts contributed greatly to achieving this award, including its efforts to support the UAE's transition towards a more sustainable economy.
Commenting on the award, Nasser Al Awadhi, Group CEO at ADIB, said: “We are honoured to be recognised as the
Best Bank in the UAE. This award is a testament to the hard work and dedication of our exceptional team in providing the best Islamic banking experiences to our customers and digital transformation strategy. It is also the best evidence of our unwavering commitment to sustainable banking practices, and the long-term commitment to enhancing our social and environmental impact. We look forward to further delivering solutions that provide simple, safe, and more effortless banking experiences. This recognition inspires us to continue pushing the boundaries of what's possible in
Islamic banking and to be a driving force for innovative banking practices."
The World's Safest Bank rankings reviews the 500 largest banks by asset size and the long-term foreign currency ratings. The list of winners evaluates the best financial institutions in a number of categories, and ultimately honors true pioneers within their fields of specialization. As all winners are selected by the magazine's editorial board, which considers nominations, competition submissions, key research, and expert opinions, to evaluate the most prominent banks in terms of the sophistication of their products and solutions.
ADIB's commitment to ESG is a crucial component of its overall banking strategy, demonstrating its dedication to supporting the local community and advancing economic growth in the UAE. Furthermore, ADIB has continued to maintain an A rating from the MSCI ESG index.