MANAMA: Bahrain-based Al Baraka Banking Group (ABG) yesterday announced it and five of its subsidiaries have received Global Finance magazine’s best Islamic financial institution award of 2013.

ABG won the best Islamic financial institution in Middle East and Africa award.

Al Baraka Bank Lebanon won the best Islamic financial institution in Lebanon award.

Jordan Islamic Bank won the best Islamic financial institution in Jordan award as well as the best Islamic retail bank in Jordan award.

Al Baraka Bank won the best Islamic financial institution in South Africa award.

Al Baraka Islamic Bank Bahrain won the best Islamic financial institution in Bahrain award and Banque Al Baraka D’Algerie received the best Islamic financial institution in Algeria award.

The awards were given to the banks for their prominent role in the Islamic banking sector, their ability to achieve consistent growth in the future and meeting professional standards in terms of the quality of products and services offered to clients.

Their originality and innovation in services and customer service, continued development and innovation in banking operations and other criteria such as strategic relationships, geographic reach, profitability and robustness of financial position, were also considered.

ABG president and chief executive Adnan Ahmed Yousif received the awards in a ceremony held in Washington to coincide with the annual meetings of the International Monetary Fund (IMF) and World Bank.

ABG chairman Shaikh Saleh Abdulla Kamel said the wins reflected the leading status that ABG enjoys.