HSBC Amanah, the global Islamic financial services division of the HSBC Group, has been named Best International Islamic Bank, the Best Sukuk House and Best Project Finance House by Euromoney Magazine in its 2007 Islamic Finance Awards. In addition, two deals lead managed by HSBC Amanah was awarded the accolade of Best Sukuk deal and Best Project Finance Deal. The awards were announced on 30th January during a function held at the Royal Garden Hotel in London.
HSBC Amanah was awarded the Best International Islamic bank award for being the leading provider of Islamic financial products and services across the world. It has been at the forefront of developing Islamic finance through the provision of innovative solutions to meet client needs supported by a team of nearly 150 dedicated professionals across 20 Muslim-majority countries, including Brunei, Bangladesh, Indonesia, Malaysia, the Middle East, Pakistan, Singapore and Turkey.
“HSBC Amanah is pleased to receive these prestigious awards which recognise the outstanding contribution of employees, clients and partners across the world. The aggregate value of international transactions undertaken by HSBC Amanah in 2006 was in excess of US$9 billion. This year we are delighted to have won in addition to these five Euromoney Awards, 18 other awards from various other leading publications,” said Razi Fakih, Acting Chief Executive Officer, HSBC Amanah.
HSBC Amanah was also awarded the Best Sukuk House for bookrunning the most number of issues in 2006, the innovative structuring and the highly successful execution of these Sukuks.
Khazanah Nasional’s US$750 million Exchangeable Islamic Securities –the first-ever Shariah compliant exchangeable securities transaction and the largest ever equity-linked issue out of Malaysia. won the Best Sukuk Deal. HSBC Amanah was a joint lead manager and book runner on the deal.
The US$ 600 million Islamic finance facility for the Rabigh Refinery and Petrochemical Project was awarded the Best Project Finance deal. This financing was a pioneering transaction in the Kingdom of Saudi Arabia and has been used as a template for subsequent Islamic project financing. HSBC Amanah was the Islamic Financial Adviser to Saudi Aramco and Sumitomo Chemical on the deal.
“HSBC Amanah’s innovative application of Shariah principles in all the products and services it offers has led to its ongoing success. Since inception HSBC Amanah has been involved in numerous project finance transactions to date by quantity and quality; the aggregate value of project finance transactions undertaken by HSBC Amanah is US$4.88 billion,” added Razi, for being awarded the Best Project Finance House.
