ADIB Champions Innovation and Ethical Finance at EFICA awards Ceremony

ADIB Champions Innovation and Ethical Finance at EFICA awards Ceremony

Abu Dhabi, UAE; 29^th April 2025: Abu Dhabi Islamic Bank (ADIB) in strategic partnership with the London Stock Exchange Group, successfully hosted the EFICA 2025 Awards ceremony, reinforcing its leadership in ethical finance, innovation and real-world social impact. The event brought together industry pioneers, thought leaders and bankers to celebrate forward looking initiatives in Islamic finance.

Launched by ADIB in 2013, the Ethical Finance Innovation Challenge Award “EFICA” Awards were created to celebrate initiatives that drive real-world impact, promote sustainability, and advance ethical banking practices. Over the past decade, EFICA has grown into one of the leading global platforms in the sector, advancing ethical finance innovation, attracting hundreds of submissions from around the world.

Commenting on the EFICA Awards, Mohamed Abdelbary, ADIB’s Group CEO, said:
"As a bank founded on the principles of Sharia and ethical banking, ADIB is proud to champion innovations that create meaningful social and economic impact. Our heartfelt congratulations go to this year’s winners, who embody the core values ADIB stands for financial inclusion, sustainability, and positive societal impact. At ADIB, we remain committed to fostering a global financial ecosystem where ethical principles drive real-world change. As EFICA enters its seventh edition, we are proud to see its size, scale, and global influence continue to grow. The exceptional entries we received this year reflect the sector’s dedication to harnessing innovation for the benefit of communities worldwide.”

This year, EFICA attracted over 150 global submissions. A distinguished advisory board featuring prominent Islamic scholars, financial innovators and banking practitioners, selected outstanding initiatives that reflect ethical aspects, impact on society and innovation.

During the ceremony, the Bank honoured excellence in three key categories:

• EFICA Main Award: MADCash (Malaysia) was awarded the EFICA 2025 Main Award for its innovative, Shariah-compliant, zero-profit Microfunding platform that empowers women entrepreneurs by providing Shariah Compliant micro finance and financial literacy training, driving financial inclusion and enhancing future bankability across Malaysia, Singapore, and Tajikistan.
• Lifetime Achievement Award: Sheikh Mufti Muhammad Taqi Usmani received this prestigious recognition for his lifelong contributions and service to the Islamic finance industry globally.
• Islamic Finance Initiative Award: Sukuk Al Waqf, an initiative by the Awqaf and Minors Affairs Authority (Dubai), in partnership with the Mohammed bin Rashid International Centre for Endowment and Endowment Consultation, which is managed by National Bonds, was honoured for advancing Islamic finance through innovative waqf-based investment structures.

Other finalists that presented their ideas included Kestrl, a UK-based fintech helping over 1.2 million Muslims worldwide manage and grow their wealth in accordance with Islamic finance principles, and Kifiya Financial Technology, an Ethiopian company focused on developing digital platforms that facilitate secure, affordable, and accessible transactions to bridge the financial inclusion gap in Ethiopia.

Through EFICA, ADIB not only celebrates the achievements of changemakers but also reinforces its mission to lead the financial industry toward a future where ethical principles and innovation go hand in hand.

For more information about EFICA please visit: http://efica.com.