NCB Capital voted Best Islamic Asset management Company in the Middle East for 2011

Adding to its long and continuously growing list of honors, NCB Capital has been crowned winner of “Best Islamic Asset Management Company in the Middle East” Award 2011by Islamic Finance News.

“This win holds special significance since NCB Capital has been voted Best Islamic Asset Management Company by its peers in the investment world,” said Hamed Fayez, Head of Asset Management at NCB Capital. “Furthermore, coming on the back of previous awards in the same category, this prestigious mark of recognition demonstrates the staying power of NCB Capital’s team in what continues to be a challenging market.”

Fayez went on to congratulate his asset management team for another year of outstanding performance and for continuing to uphold NCB Capital’s name as the leading player in the GCC finance and investment landscape.

The Islamic Finance News Awards honor the best in the Islamic financial industry and are highly recognized by the global Islamic capital markets. The awards are decided by the IFN Asset Management Poll, which focuses on the rapidly developing global Islamic funds industry.

The poll drew a strong response from many of the Islamic finance industry’s leading investors, including high net worth individuals, institutional investors, sovereign wealth funds, money managers, private bankers, investment analysts, treasurers, insurance companies and other major investors.

The Islamic Finance News Award is further recognition of NCB Capital’s exceptional performance and development work in Islamic fund management. And earlier this year, the bank won the Best Fund Manager Award by Euromoney, and Best Equity House in Saudi Arabia by EMEA Finance. In addition, the company’s AlAhli Saudi Trading Equity Fund won best fund over 5 years and 10 years awards at the Lipper International prestigious 2011 awards.

NCB Capital is the largest investment bank in Saudi Arabia with over one million clients and SR56 billion ($14.9 billion) of assets under management (Dec 2010) and is the Kingdom’s largest Shariah-compliant fund business (Tadawul) with a 33 percent market share through 26 mutual funds, making it the world’s largest Shariah-compliant asset manager.