22 February 2023
CIMB Islamic wins Best Islamic Bank in Malaysia for seventh consecutive time
Kuala Lumpur: CIMB Islamic Bank Berhad and CIMB Investment Bank Berhad (collectively “CIMB” or “the Bank”), together with Unit Usaha Syariah PT Bank CIMB Niaga Tbk (“CIMB Niaga Syariah”) have been recognised with nine awards at the IFN Best Banks Poll 2022 and IFN Deals of the Year 2022. Notable achievements were CIMB Islamic’s seventh consecutive win as Best Islamic Bank in Malaysia and CIMB Niaga Syariah’s maiden win as Best Islamic Bank in Indonesia.
The IFN Best Banks Poll recognises the best providers of Islamic financial services across a series of markets and sectors as voted by the readers of Islamic Finance News, while the IFN Deals of the Year is awarded to the industry’s most ground-breaking transactions each year.
The complete list of awards is as follows:
IFN Best Banks Poll 2022
- Best Islamic Bank in Malaysia – CIMB Islamic Bank
- Best Islamic Bank in Indonesia – CIMB Niaga Syariah
- Best Investment Bank in Malaysia – CIMB Islamic Bank
- Best Investment Bank in Indonesia - CIMB Niaga Syariah
- Best Corporate Bank in Indonesia – CIMB Niaga Syariah
- Most Innovative Bank in Indonesia – CIMB Niaga Syariah
IFN Deals of the Year 2022
- IFN Equity & IPO Deal of the Year 2022 (Farm Fresh's RM1.1 billion IPO) – CIMB Islamic Bank
- IFN Structured Finance Deal of the Year 2022 (Amanat Lebuhraya Rakyat's RM5.5 billion Sustainability Sukuk Murabahah) – CIMB Investment Bank
- IFN Malaysian Deal of the Year 2022 (Amanat Lebuhraya Rakyat's RM5.5 billion Sustainability Sukuk Murabahah) – CIMB Investment Bank
Ahmad Shahriman Mohd Shariff, Chief Executive Officer of CIMB Islamic said, “We are honoured to have been selected as a market leader in banking and finance in the IFN Best Banks Poll 2022 for Islamic banking, investment banking and corporate banking in Malaysia and Indonesia, which are two of CIMB’s key markets. This includes the outstanding recognition of Best Islamic Bank in Malaysia for seven consecutive years, which underscores our innovations in Islamic and sustainable finance for our customers and clients, as well as the contributions we have made to the community and environment. Meanwhile, the IFN Deals of the Year 2022 recognise a stellar year of contribution by CIMB to both the Islamic finance and investment banking markets. These achievements were made possible by our teams’ deep industry knowledge and ongoing commitment to excellence, innovation, and customised client funding needs. We would like to thank our clients for their continuous support and share these successes with them, as we continue to work towards realising our Forward23+ strategic plan to be the leading focused ASEAN Bank.”
CIMB’s Islamic finance franchise in Malaysia showcased a year of excellence which contributed to the dynamism and growth of the Islamic markets through a continued commitment to customer-focused products and services, as well as embedding innovation in its range of Shariah-compliant offerings. As an active proponent of value-based intermediation, CIMB Islamic has consistently supported the development and growth of SMEs and the green economy through programmes such as Program Keusahawanan Taylor’s - CIMB Islamic, CIMB GreenBizReady and CIMB MicroBizReady. In addition, CIMB Islamic also supports Bank Negara Malaysia’s iTEKAD umbrella initiative through its iTEKAD CIMB Islamic Rider Entrepreneur Programme which aims to help the B40 community achieve financial resilience and generate sustainable income through job opportunities and training on entrepreneurship.
On the capital markets front, Farm Fresh Berhad’s RM1.1 billion IPO was Malaysia’s largest Main Market listing for 2022, supported by 30 cornerstone investors, the highest number of cornerstones in a Malaysian IPO ever so far. CIMB’s notable Malaysian sustainability Sukuk deals in 2022 include TNB Power Generation Sdn Bhd’s RM10 billion Sukuk programme, Amanat Lebuhraya Rakyat's RM5.5 billion Sustainability Sukuk Murabahah, and Pengurusan Air SPV Berhad’s RM2.0 billion Sukuk programme.
In Treasury & Markets, CIMB’s strong credentials has been able to support clients as they seek funding and capital needs, especially in sustainable finance. This was evident through landmark transactions, such as the Sustainability-Linked Treasury Programme that allows clients to embed their environmental, social and governance (“ESG”) aspirations in thematic treasury risk management solutions. CIMB’s RM1.0 billion Sustainable Collateralised Commodity Murabahah transaction with Standard Chartered Saadiq Malaysia also underscored its market leadership in sustainable finance, enabling efficient funding secured by high-quality eligible Islamic sukuk assets.
In Indonesia, CIMB Niaga Syariah ranked no. 1 amongst the Unit Usaha Syariah (Islamic Banking window) by assets, financing and deposits, supported by industry-leading products for customers and SMEs. Meanwhile, in capital markets, CIMB Niaga Syariah executed a milestone Sukuk issuance which was the Republic of Indonesia’s US$3.25 billion Global Trust Certificate including a US$1.5 billion Green Sukuk tranche.