Barwa Bank has won six awards for Islamic Finance News (IFN) “Deals of the Year 2014,” the result of industry-wide polling across financial institutions, professional advisers, fund-managers, and investors.
Four awards namely, “Deal of the Year,” “Sovereign Deal of the Year,” “Sukuk Deal of the Year,” and “UK Deal of the Year” went to Barwa Bank for its Joint Lead Manager position for the debut of UK’s £200mn sovereign sukuk, a “landmark transaction that saw the first Shariah-compliant issuance by a western nation.”
In addition, Barwa Bank was awarded “Qatar Deal of the Year” for its role in cross-border financing for the Ezdan $500mn Islamic International Syndicated Finance. This was the first 100% Islamic international syndication Ijarah for a Qatari corporate, and was able to attract Islamic investors.
The “Social Impact Deal of the Year Award” also went to Barwa Bank for its Joint Lead Manager position in the International Finance Facility for Immunisation (IFFIm) $500mn sukuk deal using the funds to buy vaccines.
Barwa Bank head of Capital Financing Arsalaan Ahmed received the awards in a ceremony held in Dubai on March 2.
Barwa Bank Group acting CEO Khalid al-Subeai said, “We were delighted to receive six awards from Islamic Finance News, which acknowledge these important deals in 2014.
Being selected as one of five Joint Lead Managers for the UK’s £200mn debut sovereign sukuk last year, alongside major international and regional banks, represented the clearest statement of our credibility, track record, solid relationships, and delivery, and we are very proud of this deal.”
“The selection of Barwa Bank for these deals amidst tough competition from other banks was an important achievement as we strive to enhance the positioning of Shariah-compliant banking,” he added.
The IFN is a leading provider of information on Islamic finance markets and instruments. Awards were selected based on peer nominations and independent industry analysis.