GIB named best sukuk arranger

Bahrain-based Gulf International Bank (GIB) was recently named the “Best Sukuk Arranger” for the year 2011 by Dubai’s Islamic Business & Finance magazine.

According to the magazine, which conducted a survey of the world’s best Sukuk arrangers, 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 recently in Dubai.

GIB has developed considerable expertise in originating and placing regional Sukuk issuances in the GCC, a statement said.

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, it added.

Dr Yahya Abdullah Alyahya, GIB’s chief executive officer, said: “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.”“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,” he added.