Islamic finance awards: Deal of the year
Islamic finance awards
|Best international Islamic bank||Best Islamic bank in the Middle East|
|Best Islamic bank in Asia||Best sukuk house|
|Best takaful provider||Best project finance house|
|Best leasing house||Best fund manager|
|Best assurance and advisory firm||Best legal advisory firm|
|Most improved Islamic finance house||Best structured products house|
|Deal of the year||Best sukuk deal|
|Most innovative deal||Best project finance deal|
|Outstanding contribution to Islamic finance|
|Badlisyah Abdul Ghani|
Deal of the year
In a dual-currency syndicated murabaha, the Saudi operation of Kuwaiti mobile telephone firm Zain raised the largest Islamic cross-border loan of 2009.
When the deal closed in August, borrowing $2.6 billion through Islamic means for a Middle Eastern business was praiseworthy enough, but added to that was an impressive Shariah-compliant hedging instrument, which drove forward a vital new area of the Islamic finance industry.