JEDDAH: Jadwa Investment has been named "Overall Best Islamic Investment Bank" for 2011 by Global Finance Magazine. The announcement was made at Global Finance's fourth annual awards for the World's Best Islamic Financial Institutions. The awards are given to banks and investment houses that have contributed to the progress of Islamic Finance and have delivered innovative and high performing Shariah-compliant products to their clients. The award winners were chosen based on objective criteria including growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products. Global Finance also factored in the opinions of equity analysts, banking consultants and others involved in the industry. Ahmed Al-Khateeb, managing director & CEO, Jadwa Investment, said: "We are pleased to receive this prestigious award from Global Finance, which is a must-read magazine for finance professionals everywhere. We created Jadwa in 2006 to build a leading investment bank serving the fast growing economies in emerging markets . This award from Global Finance is a validation of both our strategy and our execution. We are now the largest independent asset manager in Saudi with $2 billion in AUMs, and our performance in ECM and M&A league tables has been strong. We have rewarded shareholders as well: since launch, our Shareholders' Equity has grown from $133 million to $338 million, in addition to paying out 15 percent dividends for 2009 and 2010." Founded in 2006, Jadwa Investment is a leading Saudi investment bank with paid up capital of SR568,490,000. Jadwa is licensed by the Capital Markets Authority (CMA) to offer the full range of investment services, and is active in asset management, investment banking, brokerage and research. All investment services offered by Jadwa Investment are fully Shariah
