SUBMISSION DEADLINE: 29 February 2024 | AWARDS GALA: 23 May 2024

About

The Global Islamic Finance Awards 2024 organised by The Digital Banker, exists to honour and celebrate preeminent and ground breaking Islamic financial institutions and their distinguished individuals’ contribution across the global banking landscape. To that end, The Digital Banker welcomes you to participate in the program to showcase how your institution has been leveraging innovation in maintaining ethical relationships through the delivery of superior product & services portfolio that go beyond maintaining Shariah compliance and imbibe the values and substance of interest-free banking and shared profit/loss and risks.

The Digital Banker Awards are accolades of excellence and distinction, attributed to outstanding players – they provide objective benchmarks for the global and regional banking industry. This program celebrates the region’s most cutting-edge Islamic financial service providers that are pioneering new standards and capabilities and are transforming the industry by setting new milestones and digitally transforming to deliver a consistent banking experience tailored to a diverse set of customers within a Shariah framework.

If you identify your organisation and/or professionals as industry leaders that are pushing boundaries and driving unsurpassed innovation in Shariah-based products and services, we welcome you to send in your nominations for the respective awards. The submission deadline for all entries is 18:00 GMT, 29th February 2024.

2023 Awards Highlights of Global Retail Banking Innovation Awards

Why Nominate

As the Islamic financial services industry recovers from a challenging albeit fast evolving operating environment in 2023, new competitive pressures, rising prices in commodities markets and real estate are emerging that are likely to shape institutional response and drive new opportunities. Taking stock of the speed at which Islamic finance assets have grown and outpaced conventional counterparts, Islamic finance institutions are well positioned to press forward as major infrastructure projects materialise and a socially conscious affluent customer segment emerges in select markets. Furthermore, the alignment of sustainability and ESG goals within Islamic finance is also shifting the contours, reach and impact of Shariah based products and services thereby engendering responsible banking practices. With the ensuing evolution and standardisation of Islamic financial contracts in the offing, and continued integration within global financial markets being made possible, the path to growth remains promising. Cost considerations however is an ongoing concern and now, more than ever, it is imperative that Islamic financial institutions deliver exceptional experiences and tailored solutions through innovative business models and services or otherwise risk being disrupted or marginalised.

Who can apply?

The Global Islamic Finance Awards program is open to all participants within the Islamic finance ecosystem across numerous lines of business. We invite nominations from Islamic retail banks, Islamic SME banks, Islamic wealth managers, Islamic transaction banks, Islamic fintech companies, Islamic asset managers, Takaful operators, technology solution providers and vendors.

Past Winners of Global Retail Banking Innovation Awards

Judges Past & Present

Submission Guidelines

Only projects that have been completed in 2023 will be accepted. Initiation of the project can be earlier – The Digital Banker does not require a specific commencement date. In addition to this, any updates/new additions to existing projects within the said time frame will also be accepted. If a project was completed prior to 2023, the project will be accepted only if any updates have been made to it. 

We do not place a limit on the number of submissions per institution. Please be aware that multiple submissions by a single organisation for a single category will compete with each other. 

A separate submission is required for each category. Please submit all the entries on the platform by choosing the correct category and award title.

Judging Criteria

Belief Statement

Shortlisted nominees are selected on the qualitative and quantitative depth of their nominations.

The Digital Banker research team will shortlist four institutions or individuals per category, which will then be put to our impartial panel of expert judges who will undertake a rigorous audit type process to carefully select the winners.

We use a proprietary, numerical & qualitative scoring methodology which is applied to all submissions and augmented by assessment in: Product and Service Innovation, Superior Customer Experience, Financial & Market Performance and Corporate Strategy with a focus on the Shariah governance and internal controls the bank has built to date.

The Digital Banker reserves the right to use the shared data as it deems fit and including for awards assessment purposes by the judging panel.

FAQs

Do I Have to Submit a Nomination?

All awards participants are required to submit nominations through The Digital Banker’s online submission portal. The portal is where you will find the questions that need to be answered in order to be considered in the current year’s program. Institutions will be unable to participate in our awards programs without a fully complete submission(s)

Can One Project/Initiative Be Considered for Multiple Awards?

You may nominate one project or initiative across numerous awards. Please note however, these submissions are likely to compete with one and other. You must submit separate entries for each award.

Are There Any Costs Involved in Making A Submission?

There are no costs involved in making a submission.

May I Submit More Than One Nomination?

The Digital Banker does not place a limit on the number of submissions per institution. Please be aware that multiple submissions by a single organisation for a single category will compete with each other. A separate submission is required for each category.

If I cannot Access The Judging Portal, May I submit My Entries Via Email?

If your institution has firewall restrictions and you are unable to submit entries via our portal, you may request for the PDF questionnaire.

For further information, please contact The Digital Banker Awards Team at [email protected].

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