KUALA LUMPUR: Hong Leong Islamic Bank Bhd (HLISB) was announced as the winner for the Best Sukuk Deal 2014, as part of the Global Islamic Finance Awards 2014 held in Dubai recently.
HLISB said in a statement today that the nomination was based on its involvement as Joint Principal Adviser in an innovative cross-border Sukuk Wakalah programme, the first Sukuk structure of its kind in Malaysia combining Wakalah and Ijarah contracts under separate jurisdictions.
Additionally, the corporate exercise also signified the first non-government linked Saudi Corporate body issuing via the Malaysian Sukuk market.
HLISB managing director and chief executive officer Raja Teh Maimunah Raja Abdul Aziz said the award acknowledges their efforts in promoting the growth of cross-border Sukuk transactions.
The Global Islamic Finance Awards highlight best practices in Islamic banking and finance and celebrate the successes of institutions and individuals, with a focus on promoting social responsibility, Shariah authenticity and commitment to Islamic banking and finance.
Awards were presented during the Fifth World Islamic Economic Forum, an annual event bringing together industry experts and practitioners from throughout the globe.-- Bernama