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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




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