IFFIm honoured for 'Best Supranational Sukuk' for 2014

IFFIm honoured for 'Best Supranational Sukuk' for 2014

March 4, 2015

Second such award given for IFFIm’s November sukuk transaction

Washington, 3 March 2015 - IFFIm’s inaugural sukuk transaction has been named “Best Supranational Sukuk for 2014” by EMEA Finance magazine, the second award this year for the transaction. The IFFIm sukuk also was named “Social Impact Deal of the Year” by Islamic Financial News in early 2015.

EMEA Finance magazine covers central and Eastern Europe, Africa and the Middle East for finance executives. Winners were announced as part of EMEA Finance’s Annual Achievement Awards. IFFIm’s selection is part of EMEA’s Islamic finance category.

“Nominated by parties including banks and their clients, and chosen by the EMEA Finance editorial team, these houses and transactions exemplify the innovative work taking place in the region's capital markets,” notes EMEA.

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 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), working with the World Bank as IFFIm's Treasury Manager.