Standard Bank Shari’ah Banking has been named the best Islamic bank in South Africa following a busy period in the capital markets, the launch of several market-first solutions and impactful community support work.
The bank acted as a joint lead manager and bookrunner for the four-tranche R20.386 billion ($1.1 billion) sovereign sukuk – the first sukuk issuance from South Africa since 2014. The transaction was 1.74 times oversubscribed, with the investor base including both South African banks and large Islamic funds.
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