Barwa Bank, Qatar’s fastest growing Shari’ah compliant banking service provider, today announced that it has won awards for threeIslamic Finance News “Deals of the Year, 2013”, the result of industry-wide polling across financial institutions, professional advisers, fund-managers and investors.
The awards are for Barwa Bank’s arranger position in the cross border financing for the International Bank of Azerbaijan US$120.5 million Murabahah Syndicated Facility, arranger in the Tawarruq Deal of the Year for the MaranNakilat Company US$662.4 million Revolving Commodity Murabahah Facility and Co-Lead Manager in the UAE Deal of the Year for the Dubai DOF US$7.5 million Sukuk.
Khalid Mahdi Al-Ahbabi, General Manager, Wholesale & Business Banking and Mohamed Mubarak Al-Sabahi, Head of Government & Institutional Bankingwere amongst those who attended the prestigious award ceremony held on 24 February at the Ritz Carlton DIFC, Dubai.
Speaking at the occasion Mr Al-Ahbabi said, “We are delighted to receive three awards from Islamic Finance News which acknowledge these important deals in 2013. Being selected as repeat Co-Lead Manager by the Government of Dubai and having the opportunity to be associated for the second time with a significant transaction was something which we are extremely proud of – as was our $680 million Murabaha refinancing agreement and the Cross Border financing for the International Bank of Azerbaijan. The selection of Barwa Bank for these deals amidst tough competition from other Shari’ah compliant banks was an important achievement for us financially and strategically as we strive to enhance the positioning of Shari’ah compliant banking and finance as a strategic choice for major local, regional and international companies.”
Mr.AlAhbabi went on to say, “Our aim is to associate Barwa Bank with the top regional names as clients ; our involvement in all three of these transactions illustrates our credibility, strong regional relationships and delivery, as well as access to liquidity. We are working on many initiatives in the region in order to maintain our market standing and have a strong business pipeline for the coming year.”