Thursday 21 / November / 2024
MUSCAT: Reinforcing its position as one of Oman's most dynamic Wholesale Banking Islamic banking institutions, Alizz Islamic Bank was recently conferred with the award for ‘Mudarabah Deal of the Year 2021’ at the Islamic Finance News Awards 2021.
Alizz Islamic Bank is pleased to announce that its landmark Investment Banking transaction: the OMR 52 million OMINVEST Perpetual Sukuk has been recognized globally and has won the prestigious IFN award for Mudarabah Deal of the Year 2021. Alizz Islamic Bank is honoured to have acted as the Joint Issue Manager on the deal along with Ubhar Capital SAOC.
The Islamic Finance News (IFN) Awards are one of the most prestigious awards in the world of Islamic banking and finance. Theyacknowledge and recognisethe contributions of Islamic Banking institutions in the growthand expansion of the Islamic banking and finance sector.
Expressing the banks delight at winning the award, Mr Sulaiman Al Harthi, the CEO of Alizz Islamic Bank said: “We are delighted to have worked on this pioneering Sukuk transaction for OMINVEST. The IFN award for the deal of the year is the testimony of AlizzIslamic Bank’s expertise in advising its clients on such innovative Sukuk transactions and our efforts to develop a vibrant domestic Islamic capital markets. We would like to thank our clients and the investor community for their confidence and support. We are also grateful to our regulators – the Capital Market Authority and the Central Bank of Oman for their guidance and support.”
OMINVEST is the first non-financial company to have issued perpetual instrument in Oman which provides a unique investment opportunity to investors looking for Shariah compliant instruments. The issuance of the perpetual Sukuk will enable OMINVEST to further optimize its capital structure, channel the funds to make new long-term investments and enhance return on capital. It will create value for OMINVEST stakeholders through improved earnings, stronger liquidity and better return ratios. In line with the International Financial Reporting Standards, the Sukuk will be classified as equity in Ominvest’s balance-sheet, making the company’s financial position stronger
Alizz Islamic Bank’s Wholesale Banking group provides a comprehensive range of Shari’a compliant solutions to corporate, commercial and government institutions. The bank’s highly experienced team help organizations achieve optimum efficiency, reliability, and above all, customer satisfaction. The bank has developed a variety of Sharia-compliant banking products and services that meet all the financing needs of government and corporate entities in Oman.It offers various structured financing solutions that are designed to meet all the development requirements in various sectors such as in the oil and gas, infrastructure, transport, manufacturing, education, healthcare, tourism and hospitality.
