Islamic finance awards 2008: Best Islamic bank in Asia
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BANKING

Islamic finance awards 2008: Best Islamic bank in Asia

CIMB Islamic


Although Islamic finance is growing in such countries as Pakistan and Indonesia, there’s little doubt that its home in Asia is Malaysia. And in Malaysia, there’s little doubt that CIMB Islamic is the best Islamic finance bank. Not that CIMB Islamic is reliant solely on the Malaysian market. It has a presence in 12 countries and more than 24,000 staff. In Islamic investment banking it has more than 100 specialists and its business coverage spans southeast Asia, the Middle East, Hong Kong and London. But it’s in Malaysia that CIMB stands head and shoulders above its rivals, and nowhere is this more apparent than in the sukuk market.

"The main aim for the upcoming year will be to enhance consumer banking"
Badlisyah Abdul Ghani, CIMB Islamic

Badlisyah Abdul Ghani, CIMB Islamic

The bank is the leading underwriter of domestic sukuk bonds, with a market share of more than 50%. CIMB Islamic is also number one in the global sukuk league tables, according to Islamic Finance Information Service. Landmark deals include an $850 million exchangeable sukuk for Cherating Capital, the biggest equity-linked issue out of Malaysia, and a M$2.11


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