Failaka award for best islamic fund manager gcc goes to ncb capital for second year running
Win for region’s leading investment house is NCBC’s sixth Failaka Award in three years
For the second year in succession the Failaka Award for Best Islamic Fund Manager GCC has been won by NCB Capital (NCBC), the investment arm of the National Commercial Bank. This makes a total of six Failaka Awards received by NCBC in the three years since their inception.
The announcement was made at the annual Failaka Islamic Fund Awards presentation ceremony held at the Emirates Tower Hotel in Dubai on Monday March 24, 2008.
“We are very pleased at receiving this award yet again,” said Mohammed Seif-Elnasr, Head of Asset Management at NCB Capital. “To win the Best Islamic Fund Manager GCC one time is honor enough, but to win it two years in a row is an achievement that shows the consistency of NCB Capital’s superior long term performance and consolidates our position as the leading investment company in the region.”
The Failaka Awards are given for best performance and most noteworthy achievement and are internationally recognized as the gold standard for excellence in the field of Islamic investment fund management. Each year the award for the Best Islamic Fund Manager in the GCC is given to the GCC-based fund family with the most funds that exceed their respective benchmarks over a period of three years.
The global prestige attached to the Failaka Awards reflects the worldwide interest in Islamic Funds due to their unique structuring and exceptional record of strong performance. NCB Capital has a heritage of pioneering the development and introduction of Islamic mutual funds and can be credited with much of the success and widespread popularity of Shariah-compliant investment instruments.
The Failaka Awards presentation ceremony has become an international networking venue that attracts an audience of bankers, global asset managers, representatives of law firms and business leaders who travel to Dubai each year from all across the Middle East, Europe, North America and Asia.
