Bank Alfalah Islamic wins awards at the 10th Annual Global Islamic Finance Awards (GIFA)

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In recognition of its outstanding performance and leadership in Pakistan, Bank Alfalah Islamic received the ‘Most Innovative Islamic Banking Window 2020’ and ‘Best Islamic Savings Product 2020’ awards at the prestigious Global Islamic Finance Awards (GIFA). The awards ceremony was held on September 14 at Marriot Hotel, Islamabad. President of Pakistan, Dr. Arif Alvi graced the occasion as the chief guest, whereas other attendees included Governor State Bank of Pakistan Mr. Reza Baqir, senior ministers, senior officials of State Bank, ambassadors & diplomats of all Islamic countries, local and international leading players, and other stakeholders of the industry.

Bank Alfalah Islamic was recognised for its continued efforts to serve customers in new and better ways, such as through the successful launch of its Premier proposition and its unique deposit facility of Alfalah Islamic Recurring Value Deposit. This year the Bank also introduced a Shariah compliant Islamic App Journey for its customers.

The Bank’s Alfalah Islamic Recurring Value Deposit, which won under the category of ‘Best Islamic Savings Product 2020’, has served as an outstanding star to Bank’s Deposit Portfolio. This is a one-of-its-kind savings proposition in the industry, which lets customers save in instalments and provides them with increasing Halal Returns.

Mr. Atif Bajwa, CEO and President, Bank Alfalah, said “At Bank Alfalah, we pride ourselves on keeping our customers and their financial needs as our key priority. We continue to find new and innovative ways of providing our customers a seamless banking experience with value added Islamic products while remaining fully compliant with Shariah principles. We are grateful to the GIFA Panel for awarding us as the Most Innovative Islamic Bank and the Bank with Best Islamic Products and Services. We hope to carry this momentum to reach newer and bigger milestones in the future and pave the way forward!”

Commenting on Bank Alfalah Islamic’s awards at the GIFA, Dr. Muhammad Imran, Group head, Bank Alfalah Islamic Banking Group, stated “At Bank Alfalah, we see tremendous potential for growth in the area of Islamic Banking, and we are actively working towards providing our customers with innovative products, which can give them greater convenience. We seek to be pioneers in meeting the evolving needs of our customers with the latest digital solutions and exceptional customer service so that they can bank with us securely and with peace of mind. GIFA’s acknowledgement is a further testament to the trust that our customers place in Bank Alfalah Islamic.”

The Global Islamic Finance Awards (GIFA) is one of the most prestigious and recognized global award programs in the field of Islamic Banking and Finance, which recognizes governments, institutions and individuals from across the world who have made a significant mark in Islamic Banking and Finance, in the past one year. The awards completed a decade in 2020.


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