Maybank Islamic Berhad has clinched the Leadership Issuer of the Year Award for a financial institution by the Asset Triple A Islamic Finance Awards 2015 for its RM1.5 billion Basel III-compliant subordinated sukuk murabahah, which was the single largest deal of its kind launched by an Islamic financial institution.
The issuance was pursuant to a subordinated sukuk murabahah programme of up to RM10 billion in nominal value established in March 2014.
The transaction received encouraging response from investors resulting in an oversubscription rate of 2.9 times, enabling Maybank Islamic to upsize the deal from the initial target of RM1 billion. Maybank Investment Bank Berhad acted as the Lead Arranger and Manager.
“Proceeds raised from the subordinated sukuk murabahah are used to position Maybank Islamic for stronger growth domestically and regionally,” said Maybank Islamic Chief Executive Officer Muzaffar Hisham.
He also thanked his team for their hard work in the sukuk issuance and The Asset for recognizing this effort.
“The strong demand we received from investors for this programme is a testimony of Maybank Investment and Maybank Islamic’s leadership in the Islamic capital market space,” he said.
The Sukuk programme also won an award in the category of Highly Commended Best Bank Capital Sukuk.
In 2014, Maybank Islamic Berhad cemented its leadership position as it posted robust double-digit growth rates in financing, deposits and in asset size which stood at RM146.4 billion as at December 31 2014.
Maybank Islamic also won 4 other awards. These were the Islamic Bank of The Year for Asia Pacific and Malaysia, Best Islamic Retail Bank, Best Islamic Trade Finance Bank. It also picked up 2 awards in collaboration with Maybank Investment Bank for Best Corporate Hybrid Sukuk and Best Local Currency Sukuk.
Maybank Investment also won the following awards – Best Reit sukuk, Best bank capital sukuk-Highly commended, Best corporate sukuk, Best quasi-sovereign sukuk, and Best Islamic Deal.
The awards ceremony took place here recently and Maybank Islamic was represented by its Deputy CEO, Nor Shahrizan Sulaiman and its Head of Corporate and Investment Banking Arshad Ismail.
Maybank Islamic is currently the leading Islamic Bank in ASEAN and the largest Islamic Bank in Malaysia securing a 32.7 percent domestic financing market share and accounting for 43.8 percent of Maybank Group’s total domestic loans/financings.
