KPMG named best Islamic adviser at Euromoney awards
24th February 2011

KPMG has been named the best Islamic assurance and advisory service provider at Euromoney’s Islamic Finance Awards, for the fourth consecutive year. The award recognises KPMG’s active role in promoting and aiding the development of the Islamic finance industry globally through its network of international member firms. Numerous KPMG member firms are active in the Islamic finance arena including the UK, France, Canada, South Africa, Qatar and India. In the UK, KPMG is currently working on three Shariah-compliant real estate funds. One has launched and is buying its first property while the other two are in the early stages of fund launch. KPMG also continues to act as auditor to the first standalone takaful company in Western Europe.

Jeremy Anderson, global chairman of financial services at KPMG, said: “I am absolutely delighted that we have, once again, been named the leading Islamic assurance and advisory firm. This award is testament to our breadth of capabilities in the area and our ability to provide advice to our clients in the industry. Islamic finance is an area that we will continue to invest in globally.”

Samer Hijazi, director in KPMG’s financial services practice, said: “This award demonstrates our continued commitment to the Islamic finance industry, particularly during the recent challenging global market conditions. We are very proud of our achievements in this space and will continue to work closely with our clients to help the industry step up to the next level with regard to governance, asset management and product offering.”

KPMG’s French practice continues to advise on the establishment of what are expected to be France’s first standalone Islamic retail and commercial banks and the Canadian practice is advising a firm that hopes to be the country’s first Islamic bank. The South African practice was part of the national treasury task team for recommending enabling legislation for Islamic finance by way of a new insertion in the Income Tax Act and KPMG in Qatar was commissioned to assess the feasibility of setting up a takaful company.