KUALA LUMPUR (Oct 15): Hong Leong Islamic Bank Bhd (HLISB) announced that it has recently been awarded the Islamic Finance Deal of the Year award, a category of the Global Finance Awards 2014 organised by Global Finance magazine.

The nomination was based on its involvement as joint principal adviser in a cross-border Sukuk Wakalah programme which marked the first Sukuk structure of its kind in Malaysia which combining Wakalah and Ijarah contracts under separate jurisdictions. It is also the first non-government linked Saudi corporate body issuing via the Malaysian Sukuk market.

“This award not only recognises our achievement, but also highlights our ongoing contributions towards the Islamic finance industry from a global perspective,” said HLISB’s managing director and chief executive officer Raja Teh Maimunah said in a press statement today. 

The award was accepted on behalf of HLISB by its former Shariah Committee member, Prof Dr Malik Muhammad al Awan, at the Global Finance World’s Best Banks 2014 Awards Ceremony held during the IMF/World Bank Annual Meetings at the Washington National Press Club on Oct 11.