Arab Today, arab today gib transactions wins best sukuk of the year title
Last Updated : GMT 18:31:22
Arab Today, arab today
Arab Today, arab today

GIB transactions wins best sukuk of the year title

Arab Today, arab today

Arab Today, arab today GIB transactions wins best sukuk of the year title

Manama - BNA

The Ajil Cayman Sukuk, which was jointly arranged earlier this year by GIB Capital, has received the title “Best Sukuk Deal of the Year” from the Global Islamic Finance Awards. GIB Capital, which is the investment services subsidiary of Gulf International Bank (GIB), acted as joint lead manager and joint book runner for the SAR500 Sukuk issuance, which was successfully closed through a private placement last May for Ajil Financial Services Company via Ajil Cayman Sukuk - a limited liability special-purpose company. The Global Islamic Finance Awards are organised by the London-based Edbiz Consulting, an international Shariah advisory firm. Professor Humayon Dar, Founder of the Global Islamic Finance Awards and Chairman of Edbiz said the main consideration for granting this award to the Ajil Cayman Sukuk was “its innovative and pioneering structure that was used in Saudi Arabia for the first time.\" Commenting on this subject, GIB’s Chief Executive Officer, Dr. Yahya Alyahya, said: “We are very pleased with this additional recognition of GIB’s leading role in investment banking and the arrangement of Sukuk issuances. GIB won many other awards this year; this reflects its pioneering role on one hand and the market’s confidence in its investment banking capabilities on the other hand.” Dr. Alyahya added, “GIB has developed considerable expertise in originating, structuring and placing regional Sukuk issuances in the GCC over the past few years. We view the decision by the Global Islamic Finance Awards to choose Ajil Cayman Sukuk as the best deal of the year in 2012 as an independent endorsement of GIB’s investment banking expertise.” GIB and GIB Capital offer innovative solutions in the fields of financial restructuring, private placements, private sale, IPOs, underwriting equity as well as mergers and acquisitions. GIB is a leading bank in the Middle East with its principal focus on the GCC states. Its primary shareholder is the Public Investment Fund of Saudi Arabia. The Bank provides client-focused, innovative financial products and services to a wide customer base in the region, including investment banking, asset management, debt capital markets and Shariah-compliant banking services.

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