Hong Leong Islamic Bank bags 'Islamic Finance Deal of the Year'

HLISB's nomination was based on its involvement as Joint Principal Adviser in an innovative cross-border Sukuk Wakalah programme which marked the first Sukuk structure of its kind in Malaysia combining Wakalah and Ijarah contracts under separate jurisdictions.

The corporate exercise also signified the first non-government linked Saudi Corporate body issuing via the Malaysian Sukuk market.

"We are proud of this award and appreciate the recognition by Global Finance. This award not only recognises our achievements but also highlights our ongoing contributions towards the global Islamic finance industry," HLISB’s managing director and CEO Raja Teh Maimunah Raja Abdul Aziz said.

The nomination criteria for the Islamic Finance Deal of the Year Award includes the scale of Islamic financing operations, commitment to the business, range of products and services as well as financial performance throughout the past year.

"Besides commendable growth in the past few years via the strengthening of our traditional banking businesses, namely through the Personal Financial Services and the Business and Corporate Banking functions, HLISB is also focused on expanding its non-financing income streams which are reflected in its Islamic Capital Markets, Islamic Global Markets, as well as its transactional and digital banking initiatives," said Raja Teh Maimunah.

"HLISB is also blessed with an experienced and determined management team, as well as access to the vast Hong Leong Group network," she added.

Organised by Global Finance magazine, the various Global Finance awards recognise achievements of financial institutions globally where the winners are determined based on their merits, subject to the final decision by a panel of judges.