Unicorn Investment Bank (Unicorn), the Bahrain-based financial services group, has been named Best Investment House as part of the 2009 Islamic Business and Finance Awards organised by CPI Financial in Dubai.

The awards are based on peer recommendations and are designed to recognise and reward excellence throughout the global Islamic finance community.

“Our vision since the Bank’s inception in 2004 has been to build a global and diversified Islamic financial services group, and we continue to work diligently to achieve this,” stated Majid Al Sayed Bader Al-Refai, managing director and chief executive officer of Unicorn.

“This award is a reflection of Unicorn’s solid performance in a challenging operating environment. The Bank has made steady progress in 2009 and continues to distinguish itself through its conservative and prudent approach, its focused strategy and its commitment to a diversified business model,” added Nigel Rodrigues, chief executive of CPI Financial.

Headquartered in Bahrain, Unicorn Investment Bank operates subsidiaries in the United States, Malaysia, Turkey and Saudi Arabia (through its majority shareholding in Unicorn Capital Saudi Arabia).

The Bank is also a major shareholder in Dawood Islamic Bank, Pakistan. Unicorn has completed several landmark transactions since its inception, including the establishment of T’azur, a regional Takaful company; the acquisition of Bahrain Financing Company, the oldest and one of the leading foreign exchange and remittance houses in the GCC; and the successful launch of the Strategic Acquisition Fund, a $1 billion fund to acquire strategic stakes in commercial banks globally.-TradeArabia News Service