Lombard Odier wins first Islamic finance award

Lombard Odier has won ‘Best Islamic Wealth Management Proposition’ at the Islamic Business & Finance Awards 2019, reflecting both our growing franchise in the Middle East and our innovative Shariah discretionary mandate.

The Islamic Business & Finance awards benchmark the top performers in a rapidly growing industry. They celebrate the achievements of the “exceptional financial institutions” and pioneers of the Islamic banking and broader financial sector. The winners are decided by an independent judging panel.

This award recognises our growing presence in the Middle East and is the first time we have won a dedicated Islamic finance award. Earlier this year we opened a new branch in Abu Dhabi, to complement our award-winning representative office in Dubai. We were the first Swiss private bank to open in the prestigious Abu Dhabi Global Market – testifying to our faith in regional growth and economic stability. Our new branch brings us closer to clients in one of our fastest-growing business regions, and allows us to serve them onshore with bespoke, local solutions.

The award also celebrates our innovative Shariah discretionary mandate. We have been offering clients investment solutions in line with the principles of Islamic finance since 2012, and in 2018, our discretionary mandate was officially certified as “Shariah compliant” by the Shariah Supervisory Board of Amanie Advisors. It is a bespoke and fully customisable solution – a holistic offering, not a fund – which sets it apart from other products available in the sector. It allows our clients to build their portfolio the way they want, drawing on the full capabilities of the bank.

Islamic Business & Finance is the oldest continuously published magazine covering the Islamic finance sector, and styles itself as the “authoritative voice of the global Islamic finance industry and the broader Islamic economy.” It has a global readership and is published by CPI Financial, which also publishes Banker Middle East, amongst a range of banking and financial periodicals, products and services.
 

The awards ceremony was held on the evening of 23 October at the Ritz-Carlton hotel in the Dubai International Financial Centre. The awards spanned a range of categories, including best fintech company, best retail, corporate and investment banks and best investment fund. The other two shortlisted firms in the wealth management category were Noor Bank and GFH Financial Group.

The award for ‘Best Islamic Wealth Management Proposition’ was collected by Christophe Lalandre, Senior Executive Officer, Abu Dhabi Global Market branch, and senior relationship managers Radhouane Maghraoui and Soumaya Hissoussi¹.

¹ Banque Lombard Odier & Cie SA Rep. Office Dubaï