Euromoney Innovations in Islamic Finance 2016

Euromoney highlights six of the strongest key innovations in Islamic finance from the last 12 months.

Innovations Islamic 2016 196w

Despite the industry’s wider concentration challenges, Islamic finance can boast some impressive examples of innovation, particularly in wholesale financing. The wakalah structure has become commonplace, where once it was considered too structurally onerous; new markets have entered the fray in sukuk, such as Oman; and other cross-border transactions continue to be pulled together by enterprising scholars, bankers and lawyers. Euromoney looks at six of the strongest examples from the last 12 months:

Emirates Airlines UK Export Finance $913 million sukuk (Khadrawy)




  Joint lead managers:
Abu Dhabi Islamic Bank
Citi
Dubai Islamic Bank
ENBD Capital
HSBC
JPMorgan
National Bank of Abu Dhabi
Standard Chartered Bank

Khazanah M$100 million ($18.2 million) sustainable and responsible investment sukuk (Ihsan)

  Lead manager:
CIMB




Malaysia $1.5 billion sukuk


 
Joint bookrunners:

Standard Chartered
CIMB
HSBC

Employees Provident Fund £132 million ($187 million) secured Islamic facility

  Arranger:
Standard Chartered



Islamic Republic of Pakistan $100 million Islamic structured club facility

  Lead arrangers:
Noor Bank
Standard Chartered


Government of the Sultanate of Oman OR250 million ($650 million) sukuk


 
Lead managers:
Bank Muscat
Meethaq
Standard Chartered