And as in the previous years, The Asset is honouring the outstanding individuals who manifested their dedication in the further advancement of the Islamic finance/banking industry. Leading this year’s recipients and being accorded the Leadership Award is Daud Vicary Abdullah, president and CEO of the International Centre for Education in Islamic Finance (INCEIF), otherwise referred to as the global university of Islamic finance. Since assuming the post in 2011, he is at the front and centre in fulfilling its mandate to enhance the supply of human resources for the Islamic finance/banking industry.

 

The board of editors has also chosen Ahsan Ali, managing director and head of Islamic origination at Standard Chartered, as the Islamic banker of the year. The Dubai-based banker is a stalwart behind the bank’s groundbreaking sukuk transactions that make Standard Chartered a force to be reckoned with in the Islamic capital markets.

 

The Malaysia International Islamic Financial Centre (MIFC) is again recognized as the best Islamic finance centre as it continued to bolster Malaysia’s position as a major Islamic financial hub.

 

For the issuers of the year, the honours go to Republic of Indonesia (sovereign), Cagamas (corporate) and Maybank Islamic (financial institution). The RoI priced the largest sovereign sukuk in 2014 amounting to US$1.5 billion, based on the Shariah principles of ijara and wakala, while Cagamas printed a dual-tranche one billion ringgit sukuk issued under the commodity murabaha structure. Maybank Islamic, meanwhile, raised the largest ringgit-denominated Basel III-compliant tier 2 subordinated sukuk amounting to 1.5 billion ringgit.

 

Maybank Islamic also retained the award for the Islamic bank of the year as it posted another strong performance in 2014. The world’s third largest Islamic bank with total assets exceeding US$42 billion as at end-2014, posted a profit before tax of US$476 million, a growth of 12% year-on-year. The Asset also recognizes Hong Leong Islamic Bank for its digital innovation, offering banking without boundaries and catering to a growing need from customers to simplify products and services.

 

Maybank Islamic likewise secured the country honours in Malaysia, having won the best Islamic bank, the best retail bank and the best trade finance bank. Also scooping similar country honours is Bank Syariah Mandiri in Indonesia, while Meezan Bank won the best Islamic bank and best retail bank in Pakistan as is ADCB Islamic Banking in United Arab Emirates.

 

In terms of Islamic investment banking, CIMB Investment Bank (CIMB Islamic

Bank) once again beat the competition to retain the accolade as best investment bank in Asia-Pacific. The bank is involved in several significant transactions that defined the Islamic capital markets in 2014, including the sovereign issuances by RoI, Hong Kong and the UK. It deal list also include the sukuk issuances by the International Finance Facility for Immunization Company, Export-Import Bank of Malaysia, Bank of Tokyo-Mitsubishi UFJ (Malaysia) and Malaysia Airports Holdings – for which it also secured the best sukuk house award.

 

HSBC emerged as the winner of the best investment bank award in the Middle East for its franchise across debt, equity and M&A. It was also named the best project finance house for its participation in important transactions.

 

Standard Chartered was chosen as the sukuk house of the year for the Middle East for leading transaction across markets in the region, in particular for its clients in the United Arab Emirates.

 

In the asset management category, CIMB-Principal Islamic Asset Management retains the honours for Asia-Pacific, while AmInvest returns to the winning circle as it was named the best asset management house in Malaysia. Also in Malaysia, Franklin Templeton was the winner in the institutional category, while Public Mutual again dominates the retail category.

 

Also retaining the accolades they won in 2014 are Prudential BSN Takaful as the best takaful institution and Allen & Overy as the best Islamic law firm.