BANK ISLAM GROUP CLINCHES FOUR ASSET TRIPLE A AWARDS
The prestigious Asset Triple A Award ceremony, which was recently held in Kuala Lumpur, saw four awards presented to Bank Islam Malaysia Berhad (Bank Islam or the Group). As Principal Adviser, Lead Arranger, Lead Manager, and Shariah Adviser on Pengurusan Air Selangor’s (Air Selangor) RM430 million SRI Murabaha Sukuk and Lead Manager for Bank Simpanan Nasional’s (BSN) RM750 million Triple Tranche Wakala Sukuk, Bank Islam received the Best SRI Sukuk award. It also received the Best New Sukuk award.
Meanwhile, the Group’s subsidiary, BIMB Investment Management Berhad (BIMB Investment), was named ESG Asset Manager of the Year for the third time. At the same time, in its role as the Joint Placement Agent, BIMB Securities Sdn Bhd (BIMB Securities) won the Best Primary Placement award for the RM795.6 million primary placement exercise of BIMB Holdings Berhad’s (BIMB Holdings) shares.
Commenting on the acknowledgements, Mohd Muazzam Mohamed, Group Chief Executive Officer of Bank Islam, said, “We are truly honoured and humbled by the trust and confidence placed on Bank Islam. These awards showcase the Group’s ability to consistently deliver bespoke and innovative solutions to meet our clients’ funding needs, further entrenching Malaysia’s position as a global leader in the Sukuk market.”
The Pengurusan Air Selangor SRI Murabaha Sukuk is part of an RM1.0 billion issuance, including RM570 million Islamic medium-term notes. Proceeds from the Sukuk will be used to finance eligible projects in compliance with Air Selangor’s sustainable development Sukuk Kelestarian Framework which includes sustainable water supply and management projects.
The award adjudication board also recognises Bank Islam’s role in BSN’s first RM750 million Triple Tranche Wakala Sukuk issuance and venture in the capital market. Proceeds from the Sukuk are earmarked for BSN’s Shariah-compliant financing activities, such as refinancing existing and future financings, its working capital, and other corporate purposes.
Concurrently, since its win in 2019 and 2020, BIMB Investment has again been named ESG Asset Manager of the Year. This award recognises its significant contribution and achievements in the environment, social and governance (ESG), sustainability and asset management in Asia. As of 30 September 2022, BIMB Investment has six Shariah-ESG
compliant funds, amounting to over RM620 million assets under management (AUM).
“Bank Islam Group has been a strong proponent of Value-based Intermediation (VBI) that aligned with ESG and sustainable investing and financing principles. The award has highlighted BIMB Investment’s progress toward becoming a Global Shariah-ESG Fund House. We look forward to contributing more to developing a robust and dynamic ESG investing ecosystem in Malaysia and the region. The Group is also equally proud of its full
fledged Shariah-compliant stockbroking firm for winning an award for its role in completing the BIMB Holdings-Bank Islam listing transfer via the primary placement exercise in October last year,” added Mohd Muazzam.
The Asset Triple A Islamic Finance Awards is one of the industry’s most distinguished awards in what has become one of the fastest-growing and most promising niches of global finance. The awards recognise the best Islamic banks, houses and deals that defined the industry during the review period.