KUALA LUMPUR: Maybank Islamic Berhad was presented with three awards at the Global Finance Awards 2014, in Washington D.C last Saturday.

ASEAN’s largest Islamic bank in terms of asset was named the best Islamic Financial Institution in Asia last June and it also got the recognition in the country awards for Malaysia and Singapore.

The awards ceremony took place on October 11 at the Washington D.C’s National Press Club during the annual IMF World Bank meeting.

Maybank Islamic Chief Executive Officer and Head of Maybank Group Islamic Banking, Muzaffar Hisham was present at the ceremony to collect the awards.

“We are honoured to have been globally recognised as the Best Islamic Financial Institution of the year for not just in Malaysia, but also in Singapore and in Asia. Winning the award is a testimony of our commitment and capability to effectively leverage on our position as the leading Islamic bank in Asean as we deliver value to our corporates and communities across the region and beyond,” he said.

This is the second time Maybank Islamic has won this award by Global Finance, the official media partner of the IMF/World bank 2014 annual meetings seminars.

Global Finance said outside its core Malaysian market, Maybank Islamic boasts operations in Singapore and Indonesia and is applauded for its Shariah governance and risk management framework.

With US$42 billion in total assets, Maybank Islamic Berhad leads peer rankings of Islamic banks, according to RAM Ratings.

Last year Maybank Islamic launched new shariah-compliant products in Singapore for commercial, industrial and residential properties, which facilitates Singaporean investment in Malaysian property.

Global Finance—official media partner of the IMF/World Bank 2014 annual meetings seminars—provides daily coverage and live streaming of events as around 13,000 people gather to appraise the health of the world’s economy.

Also in conjunction with the meeting, Muzaffar was also invited as one of the panellists to speak about Islamic finance at a conference organised by the Institute of International Finance.

Along with the other panellists from National Commercial Bank, Standard and Poor’s and Emirates Islamic, they gave their views on opportunities and risk in Islamic finance, the development of its institutional and regulatory framework and market structures to deepen and expand the Islamic finance market.