Fifth award for the sukuk since November 2014 issuance
IFFIm Chair René Karsenti and World Bank treasurer Arunma Oteh accept award from Global Finance founder and editor Joseph Giarraputo. Credit: Global Finance/2015.
Washington, 12 October, 2015 - IFFIm’s inaugural sukuk has been named “Islamic Finance Deal of the Year” by Global Finance magazine, the transaction’s fifth award in less than a year.
IFFIm Chair René Karsenti accepted the prestigious award on Saturday in Lima, Peru at Global Finance’s 17th annual World’s Best Banks prize-giving ceremony.
The IFFIm sukuk – a financial certificate that complies with Islamic law - has also received the Financial Times’ Achievement in International Finance Award, Islamic Finance News’ Social Impact Deal of the Year 2014, EMEA Finance’s Best Supranational Sukuk and Euromoney’s Innovation in Islamic Finance.
Funds for immunisation programmes
IFFIm issued its inaugural sukuk on 27 November 2014, raising US$ 500 million to accelerate the availability of funds for immunisation programmes and health system strengthening supported by Gavi, the Vaccine Alliance. The sukuk was coordinated by Standard Chartered Bank, working with joint lead managers Barwa Bank, CIMB, National Bank of Abu Dhabi (NBAD) and NCB Capital Company (NCB Capital). The World Bank acts as IFFIm's Treasury Manager.
Global Finance is a monthly magazine founded in 1987 with a mission to help corporate leaders, bankers and investors chart the course of global business and finance. Its headquarters are situated in New York, with offices in London and Milan.