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NCB Set to Join Islamic Banks and Financial Institutions Council

Tuesday, 11 December, 2012

​The National Commercial Bank (NCB) has won the support of the General Council for Islamic Banks and Financial Institutions to become a council member following a meeting in Jeddah.

Dr. Omar Zuhair Hafiz, secretary-general of the council, said the organization’s general assembly has nominated NCB to become a member of the council’s board of directors.

NCB is one of the leading commercial banks in the region and the products developed by NCB have contributed to the growth of Islamic banking and finance.

NCB’s membership would contribute to the promotion of the council’s activities by offering a number of innovative Islamic banking services and products.

The council is a nonprofit organization, established by the Jeddah-based Islamic Development Bank and a number of Islamic banks and financial institutions. It received a license from the Bahrain government and is based in Manama.

NCB’s membership in the council’s board of directors comes as a result of its continuous efforts in developing the Islamic banking and finance industry.

The bank has received a number of regional and international awards including the Best Islamic Finance Deal from “Project Finance” magazine and Best Islamic Finance for Projects from Asset magazine in 2012.​