Dubai-based Islamic Business & Finance magazine has recently named Gulf International Bank (GIB) as the “Best Sukuk Arranger” for the year 2011 after conducting a survey of the world’s best Sukuk arrangers.
According to the magazine, nominees for the awards were short-listed from hundreds of top Islamic financial services providers and professionals. Tens of thousands of votes were cast by the readers of the magazine and the registered users of its website.
The magazine distributed its annual Islamic banking awards to the winning banks during a ceremony held in Dubai on 13 December 2011.
GIB has developed considerable expertise in originating and placing regional Sukuk issuances in the GCC. GIB’s strength in this area originates from long standing relationships with regional issuers and investors, experience of structuring Shariah-compliant instruments and the ability to distribute transactions regionally.
Dr. Yahya Abdullah Alyahya, GIB’s Chief Executive Officer, commented: “We are pleased to receive this prestigious award that recognizes our leadership and achievements in the field of Sukuk arrangement and issuance. We are committed to further strengthen GIB’s status as a leading investment bank in the GCC.”
Dr. Alyahya added: “This new award comes as an addition to other awards the Bank has received during the past 12 months. This reflects GIB’s leadership and the market’s confidence in its capability to provide innovative debt and corporate advisory solutions.”
GIB is a leading bank in the Middle East with its principal focus on the GCC states. Its primary shareholder is the Public Investment Fund of Saudi Arabia. The Bank provides client-focused, innovative financial products and services to a wide customer base in the region, including asset management,, IPOs, private equity placement, mergers & acquisitions, Sukuk/bond issues and Sharia-compliant banking services.