Tamweel PJSC, the UAE Islamic home finance provider, announced today that it has been named the “Best Home Finance Company” at the Banker Middle East Industry Awards 2012, held yesterday in Dubai.
The Banker Middle East Industry Awards recognise the best performing financial services institutions across the Middle East and North Africa. Nominees are shortlisted by a panel of well-respected industry experts, with winners selected via an online voting process. Tamweel took home the award based upon its strong financial performance over the past year; focus on launching innovative products and services targeted at the right market segments; and proven ability to deliver these products and services to the satisfaction of customers.
Being named “Best Home Finance Company” caps a positive 18 months for Tamweel. In April, the company took home the “Best Home Finance Product” award at the Banker Middle East Product Awards 2012 in recognition of the exceptional innovation in its products and services.
Following its success at the Banker Middle East Product Awards, Tamweel was separately ranked by Arabian Business as Dubai’s “Best Performing Company” in the first quarter of 2012, with its share price more than doubling in the first three months of the year. The first half of 2012 also witnessed Fitch Ratings upgrade Tamweel’s Long Term IDR by two notches to ‘BBB+’ from ‘BBB-’ with a Stable Outlook.
“The slew of accolades received by Tamweel in the first half of 2012 has reaffirmed the company’s position as the leader of the UAE home finance industry,” said Abdulla Ali Al Hamli, Chairman of Tamweel. “With its sound business model and innovative product mix, the Company continues to go from strength to strength. I thank our shareholders, investors and customers for their continued support, which has played an integral role in the recent successes of Tamweel.”
“Through our focus on service excellence and product innovation, Tamweel has emerged as the most recognised name in the UAE property finance industry,” said Varun Sood, Acting Chief Executive Officer of Tamweel. “Our success is built on responding to the evolving needs of homeowners and we will continue to develop our products and services to meet the evolving needs of homeowners.