DUBAI: Noor Investment Group (NIG), the Dubai-based Shari’a compliant financial solutions group, announced Noor Islamic Bank (NIB) has been awarded for ‘Best Business Product’ and Noor Takaful (NT) for ‘Best Insurance Product’ at this year’s edition of the Banker Middle East Product Awards (BMEPA) 2011.

Noor Islamic Bank’s Global Transaction Services unit was acknowledged for the outstanding results achieved by its latest service, the License Fee Collection facility for the Dubai Department of Economic Development. Noor Takaful was acknowledged for its online insurance products that proved popular across the country.

Hussain AlQemzi, CEO of Noor Islamic Bank and Group CEO of Noor Investment Group, said: “We are very honoured to have been acknowledged firstly by the nomination panel, and in turn, by our industry peers as the best providers of new business product and best insurance product for 2011. This underscores Noor Investment Group’s commitment to continuously aim high and provide our clients, both retail and corporate, with top-notch financial solutions.”

Dr Ahmed Al-Janahi, Deputy Group CEO, Noor Investment Group and Managing Director, Noor Takaful said: “We are grateful for being recognised with these two awards, and are extremely pleased with our progress to date. We see these awards not as a pinnacle of achievement, but as a cornerstone of even greater things to come.”

Parvaiz Siddiq, CEO of Noor Takaful, receives the two awards for Noor Islamic Bank & Noor Takaful. Since the launch of the Noor brand in January 2008 with Noor Islamic Bank, followed by Noor Takaful in January 2009, the group has excelled in demonstrating its unique approach to providing contemporary Islamic finance solutions.

Noor Investment Group aims to offer state-of-the-art solutions that meet the current market needs of its consumers, stakeholders and partners. It does so while strictly abiding by the principles of Shari’a, duly supervised by a resident Shari’a Board, to ensure that all business practices stay truly and consistently Shari’a compliant.

The Company provides solutions in the sectors of consumer, corporate and investment banking, wealth and asset management, treasury, private equity, financial advisory and takaful (Islamic Insurance) services.

Noor Islamic Bank is a full service bank delivering the broadest range of products for its customers, with an emphasis on unique and personalised services.