Kuwait Finance House - Bahrain (KFH-Bahrain) has received the Best Investment Product Award for its pioneering project Menatelecom at the Islamic Business and Finance Awards 2010 organised by CPI Financial. The prestigious accolade was presented during a gala ceremony held at the Emirates Towers Hotel in Dubai on Tuesday, December 21, 2010. The CPI Awards are recognised around the world as one of the most distinguished Awards Programmes within the financial industry. Mr. Abdulhakeem Alkhayyat Managing Director and CEO of KFH-Bahrain, and Chairman of Menatelecom commented "This coveted Award from CPI is in recognition of KFH-Bahrain's strategic business initiatives in diversifying our investment portfolio and the implementation of strong risk mitigation measures to safeguard our investments against economic challenges." "We are proud to add this acclaimed award to our portfolio of achievements and thank the voters for their support and acknowledgement." He added. Menatelecom is an investment subsidiary of Kuwait Finance House - Bahrain, and the first company in the world to launch a nationwide WiMAX (Wireless Broadband and Telephony network) using WiMAX 802.16e technology. In 2009, Menatelecom received the Best Internet Service Provider Award in the Middle East and Africa. Mr. Abdul Razak Jawahery, Executive Manager at KFH - Bahrain, and Vice Chairman and Managing Director of Menatelecom, said "Innovation and quality have been the pillars of our success, helping us introduce unique products and services to our customers. This latest award reflects our strategic expertise and innovative business approach. We are very grateful to CPI Financial and industry players for recognising our sustained commitment to excellence". The Islamic Business & Finance Awards have been designed to encourage, inspire and reward excellence within the global Islamic Business and Finance community and they have indeed become the yardstick by which Islamic finance institutions and practitioners across the globe measure themselves. These Awards have assumed such significance due to Islamic Business & Finance magazine's widely recognised position as the most respected voice of the industry with a circulation that reaches every corner of this rapidly growing market. Winners are voted for by the readers of Islamic Business & Finance Magazine from a list of nominations by a panel of rating and consulting firms, based on their performance over the last twelve months. The Islamic Business & Finance Awards were launched in 2005 in response to the phenomenal growth of the Islamic finance industry.