City Bank Picks Up Award for the UK's Best Islamic Financial Institution

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The Islamic Bank of Britain, based in Edgbaston, has been named as the UK's best Islamic financial institution in a global awards competition.

IBB was picked as the best in the country by Global Finance magazine as part of the annual 'World's Best Islamic Finance Institutions' awards programme.

The bank will receive the award at a ceremony to be held in Istanbul in October, to coincide with the annual meetings of the World Bank Group and the

International Monetary Fund. The IBB is the first stand-alone bank dedicated to Islamic finance in the UK, although many competitors have started up services.

Commercial director Sultan Choudhury said: "We at IBB are thrilled to receive this award and for being recognised as the UK's best Islamic financial institution. The UK is becoming well established as Europe's Islamic finance capital and this award places IBB at the forefront of the industry, acknowledging our innovation and contribution to this thriving sector.

"This award also places Birmingham on the global map as it works towards becoming the UK's main Islamic Finance hub, outside London. …