Agrobank president is CEO of the Year at Global Islamic Forum
Agrobank president/CEO Datuk Wan Mohd Fadzmi Wan Othman receiving the “CEO of the Year 2016” award from Ibim Nkem Charles, minister / charge d'affaires, Embassy of the Federal Republic of Nigeria.
KUALA LUMPUR: Agrobank’s president and chief executive officer (CEO) Datuk Wan Mohd Fadzmi Wan Othman, who is the driving force of the bank’s transformation, was named “CEO of the Year” by the Global Islamic Forum Awards (GIFA).
The CEO of the Year Award honours a leader who has made a difference to his/her respective organisation and championed the development of the Islamic finance industry.
GIFA 2016 awards committee chairman Dr Humayon Dar said the panel was impressed with Wan Mohd Fadzmi's leadership in transforming Agrobank into a full-fledged modern Islamic bank.
“The CEO of the Year award honours a leader who has made a difference to his/her respective institution as well as champion the development of the Islamic finance industry,” Dar said at the ceremony held in Jakarta recently.
Every year, GIFA acknowledges the winner of this category who has demonstrated the ability to deliver a clear and strategic vision, readiness to make the necessary decisions to help his/her organisations to grow sustainably and an unquestionable integrity of character recognised by colleagues and peers.
The event was attended and witnessed by President of Indonesia, Joko Widodo with more than 450 guests.
Prof Dar said Wan Mohd Fadzmi, who took over as CEO of Agrobank in 2011, had strengthened the bank’s foundation and focused on building the agriculture sector.
“He also has made a bold announcement on the bank’s strong commitment to be a full-fledged shariah compliant bank within three years. On July 1, 2015, Wan Mohd Fadzmi has successfully led the transformation of Agrobank to be a full-fledged Islamic bank,” he said.
Prof Dar said the awards committee was impressed that under Wan Mohd Fadzmi, the bank had made significant milestones including revamping processes and procedures for better efficiency.
Agrobank's non-performing finance (NPL) rate was reduced to single digit while it developed more innovative products and financing relevant for agriculture community. The bank also made outstanding contribution in financial inclusion and initiatives undertaken to broaden access to finance.
Prof Dar said Agrobank was track to record another exceptional year by surpassing the RM8bil financing by first half of the year. Expectations are a10%-12% growth rate by end of the year despite global economic slowdown.
Wan Mohd Fadzmi, on receiving the award, said this was in recognition of Agrobank and all the employees who worked very hard for the transition of Agrobank to be a full-fledged Islamic bank.
“The journey for the transformation was gruelling, involving major and significant change in mind set, processes and redoing all documentations. However, the team at Agrobank truly believes that agriculture, by nature, is a good fit with Islamic finance. So we persevered and worked hard towards realising the conversion. It adds the confidence of our customers and also investors on the halal status of a product as it is backed up by Shariah-compliant business transactions.
“We are also grateful for the strong supports given by Bank Negara Malaysia, Ministry of Finance, Ministry of Agriculture and Agro-based Industry, our board members and stakeholders in realising our ambitious plans,” Wan Mohd Fadzmi added.
At the award presentation, Agrobank also received another award for Best Case Study. The bank’s chairman, Tan Sri Mohamad Zabidi Zainal received the award on behalf of the bank.
More than 450 guests from all parts of the world attended the prestigious GIFA ceremony. This is the first time that the GIFA awards were held in Jakarta. Last year, Bahrain was the host of GIFA ceremony.
GIFA, organised by London-based Edbiz Consulting since 2011, honours banks, financial institutions, consultancies, rating agencies, insurance brokers and technology companies for their contributions and positive influence to the global Islamic banking and finance industry.
Global Islamic Finance Awards (GIFA) is the first of their kind of awards in Islamic banking and finance.
The CEO of the Year Award honours a leader who has made a difference to his/her respective organisation and championed the development of the Islamic finance industry.
GIFA 2016 awards committee chairman Dr Humayon Dar said the panel was impressed with Wan Mohd Fadzmi's leadership in transforming Agrobank into a full-fledged modern Islamic bank.
“The CEO of the Year award honours a leader who has made a difference to his/her respective institution as well as champion the development of the Islamic finance industry,” Dar said at the ceremony held in Jakarta recently.
Every year, GIFA acknowledges the winner of this category who has demonstrated the ability to deliver a clear and strategic vision, readiness to make the necessary decisions to help his/her organisations to grow sustainably and an unquestionable integrity of character recognised by colleagues and peers.
The event was attended and witnessed by President of Indonesia, Joko Widodo with more than 450 guests.
Prof Dar said Wan Mohd Fadzmi, who took over as CEO of Agrobank in 2011, had strengthened the bank’s foundation and focused on building the agriculture sector.
“He also has made a bold announcement on the bank’s strong commitment to be a full-fledged shariah compliant bank within three years. On July 1, 2015, Wan Mohd Fadzmi has successfully led the transformation of Agrobank to be a full-fledged Islamic bank,” he said.
Prof Dar said the awards committee was impressed that under Wan Mohd Fadzmi, the bank had made significant milestones including revamping processes and procedures for better efficiency.
Agrobank's non-performing finance (NPL) rate was reduced to single digit while it developed more innovative products and financing relevant for agriculture community. The bank also made outstanding contribution in financial inclusion and initiatives undertaken to broaden access to finance.
Prof Dar said Agrobank was track to record another exceptional year by surpassing the RM8bil financing by first half of the year. Expectations are a10%-12% growth rate by end of the year despite global economic slowdown.
Wan Mohd Fadzmi, on receiving the award, said this was in recognition of Agrobank and all the employees who worked very hard for the transition of Agrobank to be a full-fledged Islamic bank.
“The journey for the transformation was gruelling, involving major and significant change in mind set, processes and redoing all documentations. However, the team at Agrobank truly believes that agriculture, by nature, is a good fit with Islamic finance. So we persevered and worked hard towards realising the conversion. It adds the confidence of our customers and also investors on the halal status of a product as it is backed up by Shariah-compliant business transactions.
“We are also grateful for the strong supports given by Bank Negara Malaysia, Ministry of Finance, Ministry of Agriculture and Agro-based Industry, our board members and stakeholders in realising our ambitious plans,” Wan Mohd Fadzmi added.
At the award presentation, Agrobank also received another award for Best Case Study. The bank’s chairman, Tan Sri Mohamad Zabidi Zainal received the award on behalf of the bank.
More than 450 guests from all parts of the world attended the prestigious GIFA ceremony. This is the first time that the GIFA awards were held in Jakarta. Last year, Bahrain was the host of GIFA ceremony.
GIFA, organised by London-based Edbiz Consulting since 2011, honours banks, financial institutions, consultancies, rating agencies, insurance brokers and technology companies for their contributions and positive influence to the global Islamic banking and finance industry.
Global Islamic Finance Awards (GIFA) is the first of their kind of awards in Islamic banking and finance.
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