Finalists for ADIB-Thomson Reuters EFICA Awards Announced

Dubai, United Arab Emirates, ** September 2015:

Abu Dhabi Islamic Bank (ADIB) and Thomson Reuters have selected finalists for their annual Ethical and Islamic Finance Innovation Awards (EFICA), with winners to be announced during a Gala Dinner held on October 04, 2015. The third edition of the awards will take place at The Westin Dubai Mina Seyahi Beach Resort, Dubai, where Nobel Peace Prize winner, Muhammad Yunus will be the keynote speaker.

A shortlisted candidate for the $100,000 Industry Development Award category is Khazanah Nasional Berhad, the strategic investment fund of the Government of Malaysia. The Fund, via Ihsan Sukuk Berhad, established a Ringgit-denominated Sustainable and Responsible Investment ('SRI') Sukuk Programme of RM1.0 billion to fund eligible Shariah-compliant SRI projects. Another finalist for this award is the International Shariah Research Academy for Islamic Finance (ISRA), which was established to promote applied research in the area of Shariah and Islamic finance. Islamic Finance Council UK (IFC) is the third shortlisted candidate for this category. This UK based not-for-profit specialist advisory and development body was established to promote and enhance the global Islamic and ethical finance industry.

The second category of the EFICA awards is the Ethical Finance Initiative Award, a $50,000 award which recognises initiatives that show how ethical delivery of financial services can produce a positive impact on society. Finalists for this category include Narwi, a non-profit Islamic crowdfunding platform and Wahed Invest, an SEC registered investment advisory company. The third finalist for this category is Community Sourced Capital (CSC), an Internet based platform in the United States where small businesses can access between $5,000 and $50,000 in capital directly from members of their own communities in the form of zero-interest loans.

'The single most important reason for EFICA was our desire to do something tangible both to recognise and to encourage those seeking for further development of the Islamic finance industry. In rewarding and incentivising initiatives that advance ethics in the world of financial services we believe we are making a real contribution to the industry as a whole,' said Tirad Al Mahmoud, ADIB's CEO. 'The number of entries applying for the awards is increasing every year, coming in from all over the world, with established organisations as well as individuals seeking to showcase the work they are doing.'

Finalists for the awards were selected after presenting earlier this month to an advisory board, which included leading financial experts and Islamic scholars. A winner will be selected by vote at the EFICA Gala Dinner on 04 October in Dubai. The EFICA Lifetime Achievement Award will also be presented at the event to an individual judged to have made a notable contribution to ethical practices in the financial services sector.

For more information about EFICA please visit: http://efica.com/

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