ICEC

HSBC receives Euromoney award as the best international Islamic bank in the third world counties

The international administration of Islamic banking at HSBC Amanah wins Euromoney Award for being the best international Islamic bank at the 2012 annual event of Euromoney Awards for Islamic banking services.
The Euromoney Awards are acknowledged as being the most important award for international financial services. HSBC also wins the best financing bank as a recognition of the bank’s leading role in offering advisory financing services for projects backed by the government as well as private real estate developmental projects in Saudi Arabia, a leading and developing market in financing Sharia-compliant projects.

The Islamic administration at HSBC Group also picked up another 14 awards, three of which are the best deal of the year (financing “AXIS” the Indonesian subsidiary of Saudi Telecom Company), best sukuk deal (issuing sukuk for Government of Indonesia) and best innovative deal (issuing sukuk for HSBC Middle East Ltd.)
Besides, HSBC wins 5 wards from Islamic financing magazine for the best deal in issuing global proxy sukuk in Malaysia, best sovereign deal (issuing global proxy sukuk), best deal in Turkey (issuing sukuk certificates in value to US$ 350 million for “KT Sukuk Varlik Kiralama”), best deal in Indonesia (second issue of guaranteed sukuk certificates in value to US$ one billion for “Perusahaan Pererbit SBSN” and the best deal speculation (issuing sukuk in value to SAR one billion for Bank Al Jazira)

As for “EMEA Finance” magazine wards, HSBC wins 6 awards; namely, best sukuk house, best Malaysian Ringgit sukuk (issuing MYR 500 million sukuk for National Bank of Abu Dhabi), best sukuk financial institution (issuing US$ 650 million sukuk for First Gulf Bank), best institutionalized sukuk (issuing US$ 500 million sukuk for Emaar Properties Co.), best innovative sukuk (issuing SAR one billion sukuk for Bank Al Jazira) and the best lending house (Islamic Development Bank).

Mukhtar Hussein, Global CEO of HSBC Amanah, assured the administration’s aim to continue being in a leading position among financial institution, through offering assistance in organizing and managing innovative deals, supporting trading movement and cash flow between the Middle East  and Asia and providing funds for Islamic financing market so as to meet the set targets.

In 2011, HSBC Amanah was named the leading Guarantor Bank and the first in issuing sukuk among the Gulf Co-operation Council countries and globally, as its market share value was 25.4% and 21.3% respectively. HSBC managed the largest number of advisory deals in Islamic financing in Saudi Arabia.

Amwal Alghad

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