Abu Dhabi – MENA Herald: Baroness Sayeeda Warsi, former UK Conservative Party chair and the first Muslim woman to serve in the UK cabinet will be a keynote speaker at the fourth annual Ethical Finance Innovation Challenge Awards (EFICA): Ethics – Making Finance a Force for Good.

Supported by Abu Dhabi Islamic Bank (ADIB) and Thomson Reuters, the awards will be held on October 26 at the JW Marriott Marquis Hotel Dubai.

Baroness Warsi is a lawyer by training, and is a member of the British House of Lords. She served in Prime Minister David Cameron’s Cabinet, first as Minister without portfolio from 2010-12, then as Senior Minister of State in the Foreign Office. She was co-Chair of the Conservative Party from 2010-12 and chaired the Global Islamic Finance and Investment Group for the UK Government. Baroness Warsi was responsible for the introduction of the first Sukuk bond outside the Islamic world.

Tirad Al Mahmoud, Chief Executive Officer of ADIB said: “Baroness Warsi is known for her strong ethical stance when it comes to matters of business and public policy, and is recognised for being a driving force for progress in developing Islamic finance and introducing it to new markets. We are honoured to have her deliver the keynote address at our fourth global ethical finance awards ceremony – EFICA.”

Baroness Warsi commented: “Ethics cannot be policed through regulations and rules, they must form an intrinsic part of the culture of an institution or an industry. In finance ethics is the golden thread that ensures that finance acts beyond self-interest as a force for good”
Baroness Warsi will speak at the gala dinner for EFICA, which will see EFICA finalists present in front of an audience of industry participants. The audience will choose the winners through a public vote.

In its fourth year, EFICA received over 50 entries from across the globe. Entrants were asked to submit projects that have helped broaden the appeal of ethical finance to a global audience and initiatives that have created tangible benefits for society.

The EFICA awards are being given in two categories this year: the Ethical Finance Initiative Award, and the Lifetime Achievement Award. The Ethical Finance Initiative Award carries a $100,000 prize, and is awarded to those who develop innovative solutions or initiatives that promote ethical practices and inspire real change in the financial services industry. The Lifetime Achievement Award, with a prize of $25,000, celebrates an outstanding institution or individual that has significantly helped to shape the world of financial services by applying ethical principles.