(MENAFN - Arab News) Saudi asset management company SEDCO Capital's Chairman Abdelelah Salem Ahmed Bin Mahfouz has been named winner of the Most Outstanding Individual Contribution to Islamic Finance Award for 2012.
The award was recently presented during the Kuala Lumpur Islamic Finance Forum (KLIFF 2012) held in Kuala Lumpur, Malaysia.
The aim of the event was mainly to honor and acknowledge the significant efforts of individuals and institutions in developing the Islamic finance industry, as well as to gather a pool of industry experts including regulatory authorities, Shariah scholars, bankers, legal practitioners, Takaful operators and academicians to share their views and experience concerning the Islamic finance industry.
Abdelelah said: "It is an honor to receive such a prestigious award and proof of the success of SEDCO Capital's vision of sharing our experience and knowledge, in addition to delivering global best practice ideas to our investment partners, which we have developed over sixteen years of successful involvement in real estate, public equity timber, commodities and private equity investments."
He added that with the World Bank forecasting expansion of the global Islamic finance market by at least 15 percent annually, it only makes sense for individuals and companies to invest in further development of the sector.
Highlighting the impact the concept of partnership has had on SEDCO Capital, Hasan AlJabri, CEO of SEDCO Capital said: "The power of partnership lies at the heart of SEDCO Capital 's business and its investment strategy.
We firmly believe partnerships create scale, reduce costs of doing business, providing increasing negotiating power and get greater access to investment opportunities. This powerful partnership model ensures transparency and establishes a full alignment of interest with our clients creating lasting relationships, mutual trust and shared success."