Dubai – MENA Herald: Hussain Al Qemzi, CEO, Noor Bank, was honoured with the title of ‘Islamic Banking CEO of the Year’ at the prestigious CEO Middle East Awards 2015. The award recognised his achievements in the Islamic banking sector as well as Noor Bank’s strong performance during his tenure.

Following the award ceremony at the InterContinental Dubai Festival City, Hussain Al Qemzi said, “I am honoured to receive this accolade that is testimony to the great work done by all of Noor Bank’s employeescollectively.

“I believe that more customers today are beginning to see the true value of Islamic finance.According to the initial findings of the upcoming report by the Global Islamic Economy Summit (GIES), Islamic finance assetsare expected to increase by 80 percent during the next five years. At Noor Bank, Shari’ a compliance is in our DNA.We remain committed to adapting and evolving tomeet customers’ dynamic needs, and shall endeavor to support this rapid growth.”

Ed Atwood, Group Editor, ITP Executive Publishing, said, “Islamic finance is playing a hugely important role in the development of Dubai as the world capital of the Islamic economy. Noor Bank’s exceptional results over the course of the last 12 months, and beyond, prove that the bank is one of Dubai’s most significant partners in that endeavour.”

Under Hussain’s stewardship, Noor Bank has grown rapidly over a short period of time.The bank recently recorded a net profit of AED272 million for H1 2015 with its banking assets crossing the US$10 billion mark for the first time. The bank also launched its debut US$500 million Sukukin April 2015 – becoming one of the lowest priced FI Sukuk issuers to be listed on Nasdaq Dubai.

The reputed CEO Middle East Awards annually recognizes the achievements and acknowledges the vital contribution made by individuals and their companies to their respective businesses across the region.