Barwa Bank Wins Six Islamic Finance News “Deals of the Year 2014” Awards
Doha, Qatar - 8 March 2015 – Barwa Bank, Qatar's most progressive Shari’ah-compliant service provider, has won six awards for Islamic Finance News “Deals of the Year 2014”, the result of industry-wide polling across financial institutions, professional advisers, fund-managers and investors.
Four of the Awards, 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 UK's GBP200 million debut 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 the cross border financing for the Ezdan US$500 million Islamic International Syndicated Finance. This was the first ever 100% Islamic international syndication Ijarah for a Qatari corporate, and was able to attract Islamic investors.
The Social Impact Deal of the Year Award went for Barwa Bank for its Joint Lead Manager position in the International Finance Facility for Immunisation (IFFIm) US$500 million Sukuk deal using the funds to buy vaccines.
Barwa Bank received the accolades during the prestigious awards ceremony held in Dubai on March 2. Attending from Barwa Bank was Mr. Arsalaan Ahmed (Oz), Head of Capital Financing.
Khalid Al Subeai, Acting Chief Executive Officer of Barwa Bank Group said in a statement: "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 GBP 200 million 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 Shari’ah compliant banking” he added.
IFN is a leading provider of information on Islamic finance markets and instruments. Awards were selected based on peer nominations and independent industry analysis.