LONDON, April 20, 2010 /PRNewswire/ -- Islamic Finance has entered a new stage of development, emerging after the global financial crisis as a more equitable and efficient alternative to the Western approach. Interest in Islamic Finance began in the 1970s, mainly due to the accumulated petro-dollars in Arab countries. In a rather pragmatic approach, it was thought in the West that respecting Islamic principles regarding finance would attract wealthy Arab investors.

World Finance conducted in-depth investigations into Islamic Finance over the last twelve months. The magazine's editorial board sought to recognise the systems in Islamic Finance generating growth and operating under good levels of corporate governance. Congratulations to the winners.

    
    Best GCC Islamic Banks Fund
    Muthanna Investment Company

    Best Sukuk Fund
    Boubyan Bank

    Best New Islamic Fund, Asia
    ING Funds Berhad

    Best Islamic Retail Bank in the World
    Jordan Islamic Bank

    Best Islamic Investment Bank
    Al Sanabel International (Holding)

    Best Sharia'h-Compliant Hedge Fund Service Provider
    Apex

    Best Takaful Issuer
    SABB

    Best ReTakuful Issuer
    Hannover ReTakaful B.S.C.

    Islamic Finance CEO of the Year
    Sohail Jaffer of FWU Group

    Best Brokerage Services Provider
    United Securities LLC

Notes for editors:

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    Michael McCaw
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    michael@worldfinance.com