Islamic Corporation for the Development of the Private Sector (ICD) badges two prestigious international awards
It is reported that ICD has been presented with two prestigious award deals in Malaysia. The first, according to the Press release, is a USD300 million wakala sukuk for the “Best Deal, Saudi Arabia”. The second, another USD32 million for “Best Deal, Bangladesh”. It is reported that the Bangladesh Deal is syndicated term finance facility for Noman Group in which ICD acted as the co – arranger.
No doubt, like it is stated in the release, “2017” for the ICD “is shaping up to be an exciting year for the industry, and many are expressing interest and gravitating towards Islamic finance as a stable alternative.”
ICD, as the financial publishing group in Asia with the widest reach among Asian issuers and global institutional investors active in the region, The Asset’s annual Triple A recognition represents the industry’s most prestigious awards for banking, finance, treasury and the capital markets.”
It should be noted that numerous financial institutions across Asia were nominated for the various categories of the awards which went through a rigorous process before being eventually selected.
While reacting to the winning, Mr Khaled Aboodi, the CEO of the ICD, expressed excitement, noting that the product of the winning is a function of their midnight candles at work. According to the CEO: “We are honoured to receive this recognition. Winning two deals at this ceremony is the result of hard work of the ICD team which I am incredibly proud of.
“It showcases our efforts in taking a leadership role in Islamic finance. Indeed, 2017 is shaping up to be an exciting year for the industry, and many are expressing interest and gravitating towards Islamic finance as a stable alternative to risk-prone conventional banking.
“We will carry forward this achievement and continue to work towards making Sharia’a compliant banking the norm for businesses and consumers worldwide. I would also like to take this opportunity to thank The Asset and congratulate them on a job well done in recognizing and celebrating the significant contributions and successes of financial institutions in the region.
ICD keeps up her mandate “to support economic development and promote the development of the private sector in its member countries through providing financing facilities and/or investments which are in accordance with the principles of Sharia’a.”