Hong Leong Islamic Bank bags Islamic Finance Deal of The Year award

-A +A

KUALA LUMPUR: Hong Leong Islamic Bank Bhd (HLISB) has been awarded the Islamic Finance Deal of The Year award by Global Finance Magazine.

The award, a category of the Global Finance Awards 2014 organised by the magazine, was accepted by HLISB’s former syariah committee member, Prof Dr Malik Muhammad al Awan at the Global Finance World’s Best Banks Awards Ceremony held during the IMF/World Bank Annual Meetings in Washington on Oct 11.

It is to recognise HLISB’s involvement as joint principal adviser in a cross-border Sukuk Wakalah programme, the first sukuk of its kind in Malaysia that combines 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 in a press statement yesterday.

This article first appeared in The Edge Financial Daily, on October 16, 2014.