12 April 2022
CIMB Islamic Bank voted Best Islamic Bank in Malaysia for the sixth year in a row
Kuala Lumpur: CIMB Investment Bank Berhad and CIMB Islamic Bank Berhad (collectively “CIMB” or “the Group”) have been recognised by Islamic Finance News (“IFN”) with multiple awards for a series of landmark Sukuk deals at the IFN Deals of the Year Awards 2021, while CIMB Islamic Bank has been honoured as Best Islamic Bank in Malaysia for the sixth consecutive year at the IFN Best Banks Poll 2021.
The recognitions received by CIMB include the following:
- IFN Best Islamic Bank in Malaysia 2021
- IFN Wakalah Deal of the Year 2021
Malaysian government’s US$800 million Sukuk issued via Malaysia Wakalah Sukuk
- IFN Musharakah Deal of the Year 2021
Tropicana Corporation’s RM270 million perpetual Sukuk Musharakah
- IFN Sovereign & Multilateral Deal of the Year 2021
UK Government’s GBP500 million sovereign Sukuk
- IFN SRI & ESG Deal of the Year 2021
SME Bank’s RM500 million sustainability Sukuk
Jefferi Hashim, Chief Executive Officer, CIMB Investment Bank Berhad said, “We are pleased to be recognised by IFN with numerous awards again this year. These awards showcase CIMB’s ability to consistently deliver bespoke and innovative solutions to meet our clients’ funding needs, further entrenching CIMB’s and Malaysia’s position as a global leader in the Sukuk market. These awards also highlight our progress towards becoming an ASEAN leader in sustainability, including our commitment to mobilise RM30 billion in sustainable finance by 2024. Meanwhile, CIMB Islamic Bank’s recognition as Best Islamic Bank for the sixth consecutive year underscores its contributions to the development of Islamic finance for individuals, SMEs and corporates, in addition to its support for the community and the environment. Most importantly, we would like to express our gratitude to our clients and customers for their long-standing support and trust in CIMB.”
Among the notable Sukuk deals was the Government of Malaysia’s (“GOM”) 10-year US$800 million sustainability Sukuk from its dual tranche US$1.3 billion Sukuk Wakalah offering, which won the IFN Wakalah Deal of the Year 2021. This was the world’s first US Dollar sustainability Sukuk offering by a sovereign and this landmark transaction achieved the lowest US Dollar yield and spread to US Treasuries for the GOM. CIMB acted as Active Lead Manager, Active Bookrunner and Shariah Adviser for the transaction and had the privilege of being the only Malaysian and ASEAN-based bank in the deal.
CIMB Islamic Bank has been a strong proponent of Value-based intermediation (“VBI”) that is aligned with sustainable finance principles. In driving this agenda, CIMB Islamic Bank has continued to support the B40 community and SMEs, as well as the development of the halal market and the green economy through programmes such as CIMB MicroBizReady, CIMB HalalBizReady and CIMB GreenBizReady. These programmes aim to empower entrepreneurs by providing them with training and mentorship to support their growth and meet internationally recognised standards and certifications, including those related to sustainability.
Concurrently, CIMB Islamic Bank actively supports environmental preservation, including partnerships with various environmental bodies across the nation. Through its EcoSave Savings Account-i, which allocates a percentage of its portfolio balance towards green projects, CIMB Islamic Bank has contributed RM3.5 million to date towards supporting 14 environmental projects. This is in line with VBI’s principles of generating positive and sustainable impact to the economy, community and environment.
The IFN Deals of the Year awards were established in 2006 and are presented to financial institutions who have participated in the industry’s most ground-breaking transactions each year. The IFN Best Banks Poll recognises the best providers of Islamic financial services as voted by the readers of IFN.
