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22-02-2008: KPMG named Best Islamic Assurance and Advisory Services Provider
By Ellina Badri
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KUALA LUMPUR: KPMG has been named ‘Best Islamic Assurance and Advisory Services Provider’ at this year’s Euromoney Islamic Finance Awards in London, due to the breadth of its assignments and diverse geographic spread of its business.
In a statement on Feb 22, KPMG LLP global chairman, financial services, Brendand Nelson said: “KPMG has a long track record of working in the global Islamic finance sector and we are delighted to receive this award as we believe it serves to further highlight our commitment to this space.
“We intend to build on our achievements of 2007 into 2008 and beyond as we recognise the growing importance of the Islamic finance market and seek to effectively help our clients in this sector.”
KPMG Global Lead for Islamic Finance and Malaysian head of financial services John Lee added KPMG was now in a position of dominance in Malaysia in terms of its share in audit, tax and advisory work for Islamic financial institutions.
He said with its global network, the company would be able to assist the Malaysian government and Bank Negara through the Malaysia International Islamic Financial Centre to promote Malaysia as the Asia-Pacific’s Islamic finance hub.
Over the last year, KPMG member firms have provided assurance and advisory services to over 50 Islamic financial institutions in the UK and Western Europe, the Gulf Co-operation Countries, the Far East, North America and Africa.
It has undertaken services on behalf of ventures looking to bring Islamic finance into new markets, national financial regulators exploring Islamic finance for the first time, and the conversion of a conventional bank to a stand-alone Islamic bank.
KPMG is also a member of the Accounting and Auditing Organisation for Islamic Financial Institutions and the Islamic Financial Services Board.