First Global wins consultancy bid

First Global, a leading Sri Lanka-based Islamic investments and financial solutions provider has won a bid to drive Abu Dhabi Commercial Bank's (ADCB) venture into Islamic banking.

The Bank plans to launch its Islamic Banking Services 'Meethaq' in the beginning of the 4th quarter of 2008 and First Global has been assigned to train their 600 strong workforce in the United Arabs Emirates.

Founder and President of the First Global Group, Muhammad Ikram Thowfeek said that ADCB's selection of his Institution is a fitting tribute to First Global's commitment to become the leading international training, consultancy and solutions provider to the Islamic banking and finance industry, from a practitioners perspective and approach.

The industry has seen a phenomenal growth worldwide not only in Middle East and Muslim countries, but also in countries where the Muslim populations are in a minority such as the UK, Germany, Singapore and Sri Lanka.

It is evident that the momentum for Islamic banking and finance is building up in Sri Lanka with a number of institutions getting on the bandwagon recently. From a global perspective, the Islamic banking and finance industry is fast exceeding the growth of conventional banking.