Financial Institutional Excellence · FIE Musrefy Award 2026
Institutional Excellence Award
Honours institutions achieving well-rounded performance and lasting results in line with best practice.
How this award is scored
- Evaluation
- 100% automatic, from the data and evidence you submit
- Minimum score to win
- 75 / 100
- Measurement period
- The full financial year 2025 (or the latest financial year completed before nominations open); growth is measured against financial year 2024
Who can apply
- A licensed financial institution or a public body working in the financial and banking sector
- Operating for at least 3 years before the start of the measurement period
- No material regulatory or judicial sanction against the entity during the measurement period
- The nomination is for the institution as a whole
Indicators and weights
-
25%
External excellence model assessment
Result of the latest external assessment in the last three years under EFQM or a recognised government or national excellence model
Points
- Top level (500+ EFQM points or winning the main national excellence award)100
- 400–499 points or winning a sub-category of a national award75
- 300–399 points or a certificate of recognition50
- Below 300 points or a commitment-to-excellence certificate20
- No external assessment0
Evidence
Assessment report or certificate from the assessor, with its date
-
15%
Strategic plan KPI achievement
Share of the 2025 key performance indicators in the plan that met or exceeded their target, where the indicators and targets were board-approved before 1 January 2025; an indicator added, or whose target was revised, during the year counts as not met
Points
- 90 – < 100 % 100
- 75 – < 90 % 80
- 60 – < 75 % 50
- 0 – < 60 % 20
Evidence
The 2025 plan approved before the year began and the board-approved performance report listing each indicator, its target and its result
-
15%
Employee engagement
Engagement or job satisfaction score in an annual survey answered by at least 60% of employees using a standard instrument
Points
- 80 – < 100 % 100
- 70 – < 80 % 80
- 60 – < 70 % 50
- 0 – < 60 % 20
Evidence
Survey report with participation rate, instrument and the party that ran it
-
15%
Customer satisfaction
Share of satisfied or very satisfied customers in a survey of at least 400 respondents run independently or under a published method
Points
- 90 – < 100 % 100
- 80 – < 90 % 80
- 70 – < 80 % 50
- 0 – < 70 % 20
Evidence
Survey report with sample size, method and the party that ran it
-
10%
Voluntary staff turnover
Employees who resigned voluntarily in the year as a percentage of average headcount
Points
- ≥ 15 % 10
- 10 – < 15 % 40
- 5 – < 10 % 70
- 0 – < 5 % 100
Evidence
Certified HR report with headcount and resignations
-
10%
Training hours per employee
Total completed and documented training hours in the year divided by average headcount
Points
- ≥ 40 hours 100
- 25 – < 40 hours 80
- 10 – < 25 hours 50
- 0 – < 10 hours 20
Evidence
Learning management system report or certified training register
-
10%
Certified management systems
Number of valid management system certificates from an accredited body: ISO 9001, ISO/IEC 27001, ISO 22301, ISO 37001, ISO 14001, ISO 10002, ISO 45001, ISO/IEC 20000
Points
- 5 – < 8 count 100
- 3 – < 5 count 70
- 1 – < 3 count 40
- 0 – < 1 count 0
Evidence
Copies of valid certificates with their scope and expiry date
Each indicator gives 0 to 100 points; its share of the total is its weight. Ties are decided by the indicators listed first in the scorecard; payment or package never affects the score.
Cycle timeline
-
Done
Nominations open
-
Upcoming
Nominations close
-
Upcoming
Judging starts
-
Upcoming
Judging ends
-
Upcoming
Results announced
Times are in Asia/Riyadh (UTC+03:00).
Results
Results are announced only after final approval.