confirms bank’s pioneering role in Islamic market
BNP Paribas - a European leader in banking and financial
services and one of the largest international banking
networks - won the 2008 award of the most innovative Islamic
Finance House of the Year 2008 at the recently concluded
Banker Investment Banking Awards in London.
BNP Paribas’ Islamic Banking Unit, Najmah, since then, was
established in Bahrain in 2003, and since then, the team has
demonstrated financially innovative ideas and has been first
to market with a cross-border equity linked product, an
Islamic structured product in South East Asia and a Sharia-compliant
exchange traded fund based on global index.
BNP Paribas offers a full complement of Shariah compliant
services to corporate and institutional clients covering
sukuk, equity derivatives, credit derivatives, interest rate
& currency hedging, asset management, asset securitization,
real estate, murabaha financing, structured finance, project
finance and export credit facilities.
To ensure that BNP Paribas’ products and services comply
with Islamic guidelines, the bank works in close
consultation with a dedicated Sharia Board comprising
eminent highly commended scholars including Sheikh Nizam
Yaquby (Bahrain), Dr. Abdul Sattar Abu Ghuddah (Saudi
Arabia) and Dr. Mohammed daud Bakar (Malaysia).
Receiving the award on behalf of BNP Paribas, Regional Head
of Corporate and Islamic Banking, Jacques Tripon remarked:
“It gives me great pleasure to accept this award on behalf
of the team, as a true recognition of there excellent work.
BNP Paribas has made Islamic products more accessible and
this underlines our commitment to fostering the growth of
regional economies by playing a leading role in the Islamic
Banker Investment Banking Awards are the most coveted and
prestigious awards in the financial industry, and are
awarded to institutions that demonstrate unswerving
excellence in terms of service to clients, returns to
shareholders and pushing the boundaries of what is possible
in finance. They are also a appreciation of institutions
that display leadership, innovation, and momentum in the
markets in which they excel.
P.O. Box 48889, Dubai - UAEE
P.O. Box 5253, Manama Bahrain
Tel: +971 4 332-0888
Tel: +973 17519472
Fax: +971 4 332-0999
Fax: +973 17536042
BNP Paribas has been operating in the Gulf for over 35 years
with a presence in five Gulf countries (Bahrain, United Arab
Emirates, Qatar, Kuwait and Saudi Arabia). The teams also
cover Oman and Yemen. BNP Paribas in the region accounts for
approximately 550 employees. The Regional Management is
based in Bahrain which is the regional hub for BNP Paribas
in the Gulf.
About BNP Paribas
BNP Paribas (www.bnpparibas.com)
is a European leader in global banking and financial
services and is one of the 4 strongest banks in the world
according to Standard & Poor’s. The group is present in over
85 countries, with almost 168,000 employees, including 129,
500 in Europe. The group holds key positions in three major
segments: Corporate and Investment Banking, Asset Management
& Services and Retail Banking. Present throughout Europe in
all of its business lines, the bank’s two domestic markets
in retail banking are France and Italy. BNP Paribas also has
a significant presence in the United States and strong
positions in Asia and the emerging markets.