KUALA LUMPUR, 28 OCTOBER 2014 - Hong Leong Islamic Bank Berhad (“HLISB“) was announced as the winner for the Best Sukuk Deal 2014, as part of the Global Islamic Finance Awards 2014 which was held in Dubai recently.
HLISB’s nomination was based on its involvement as Joint Principal Adviser in an innovative cross-border Sukuk Wakalah programme which marked 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.
“It is an honor to be recognized through the Global Islamic Finance Awards 2014, which highlights our innovative approach towards the structuring of Sukuk. This achievement also demonstrates Hong Leong Islamic Bank’s support towards the continuous development of the global Islamic finance industry“, commented Raja Teh Maimunah, HLISB’s Managing Director and Chief Executive Officer. Raja Teh is also the Chief Operating Officer for Digital Innovation and Transactional Banking of Hong Leong Bank Berhad, where she leads the digital transformation of both the conventional and Islamic banking.
Apart from its more traditional businesses, HLISB has in recent times intensified the development of its non-fee income initiatives. These include increased focus towards digital and electronic banking as well as the strengthening of its capabilities within Islamic Capital Markets, mainly in the areas of Sukuk advisory and structuring.
“This award acknowledges our efforts in promoting the growth of cross-border Sukuk transactions. We are proud to be leaders, paving the way forward in the development of our industry,“ continued Raja Teh.
The Global Islamic Finance Awards highlight best practices in Islamic banking and finance and celebrates 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 5th World Islamic Economic Forum, an established annual international event bringing together industry experts and practitioners throughout the globe.