The Global Islamic Finance Awards (GIFA) awarded the Saudi Central Bank (SAMA) the Best Central Bank award for its 11th Annual Awards, held virtually on September 14, 2021, in recognition of SAMA's outstanding contributions to Islamic finance.

In his statement, H.E. Fahad Abdullah Almubarak, governor of SAMA, expressed joy upon receiving the Best Central Bank award for 2021 by the GIFA Committee, which reflects SAMA's concerted efforts in the framework of the development of the Islamic financial sector in the Kingdom, which is compatible with the financial sector development program – one of the core Saudi Vision 2030 programs aims at ensuring the development of advanced financial markets, as well as the establishment of a financial sector that serves as an engine and a catalyst for a national economy that is further diversified, based on private sector-led growth.  Almubarak also stressed that the Kingdom is determined to further improve the Islamic financial sector in the Kingdom, and that this award highlights the Kingdom's leading role in this sector at the global level.

Since 2011, the GIFA Committee has been celebrating the achievements and contributions of governments, institutions and individuals in the development of the global Islamic financial industry, honoring various business sectors and prominent figures in Islamic finance for their outstanding contributions to the development of the industry.