Saudi Arabia Dominates Failaka Islamic Fund Awards
April 13, 2010 - The fifth annual Failaka Islamic Fund awards ceremony was recently held in Dubai to recognize the best performers in 2009 among the 555 worldwide shariah-compliant funds. The ceremony was held at the close of the Amanie-Failaka Symposium, which focused on the topical issues confronting the Islamic finance industry. Companies from the two largest markets for shariah-compliant funds, Saudi Arabia and Malaysia, received more than half of the 30 awards distributed. Samba Financial Group won the GCC Equity Three Year award and NCB Capital received the European Equity Three Year award. Others who received recognition were Al Rajhi Capital (Global Equity One Year and Saudi Equity Three Year and Five Year), Jadwa Investment (GCC Equity One Year and MENA One Year), HSBC Saudi Arabia (European Equity One Year and Asian Equity Three Year), CAAM Saudi Fransi (Emerging Market One Year and Three Year), and Saudi Hollandi Capital (Saudi Equity One Year).