Islamic Finance announced the full results of the annual Deals of the Year and Best Islamic Banks Poll.
In Deals of the Year the capital markets take center stage, with a comprehensive run-down of the biggest, best and boldest transactions of 2013 by country, region, structure and asset class. This year the long-awaited debut Sukuk from the International Islamic Liquidity Management Corporation won the top spot, based on the high ratings and strong global support for the inaugural US$490 million issuance from its US$2 billion program.
Old favorites such as the UAE also re-emerged as leading Sukuk centers over the year, while smaller markets such as Singapore and Turkey put in a valiant showing and new markets such as Egypt, Nigeria and Oman made a splash onto the scene. As always, Malaysia showed its strength as the largest universe for Sukuk deals and a key trend this year has been cross-border issuance, with Malaysian issuers looking ever further to new pastures and jurisdictions.
With its riveting rundown of the leading movers, shakers and market makers, the highly anticipated IFN Best Banks Poll brings you the very best performers of 2013 as voted for by a record-breaking number of their peers. The UAE again turned in one of this year’s top performances, with Abu Dhabi Islamic Bank taking a string of prizes including Best Overall Islamic Bank, Most Innovative Islamic Bank and Best Bank in the UAE; while Dubai-based Abraaj Capital won Best Private Equity House and the Government of Dubai won a well-deserved award for Best Central Bank.
Continuing the international theme, the survey results emphasize the ever-expanding global reach of Islamic finance and highlight the value to be found in cross-border activities and a strong multi-market footprint. Several leading global banks dominated the country categories with multiple wins across regions. CIMB Islamic cemented its ASEAN dominance with a hat trick of Best Bank awards in Malaysia, Singapore and Thailand; while Al Baraka Group displayed a focused regional strategy across the wider MENA region, taking home awards in Lebanon, Bahrain and Sudan.
Both the Deals of the Year and the Best Islamic Banks poll received record numbers of submissions and votes respectively, affirming their status as true indicators of industry opinion. All of us at Islamic Finance news would like to thank everyone who participated in submitting and voting, and extend our heartiest congratulations to the winners.