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GIB Capital’s Sukuk wins “Best Sukuk Deal of the Year”
Back 6 January 2013

Manama: The Global Islamic Finance Awards has announced the Ajil Cayman Sukuk as the “Best Sukuk Deal of the Year” which was jointly arranged earlier this year by GIB Capital.

GIB Capital, which is the investment services subsidiary of Gulf International Bank (GIB), acted as joint lead manager and joint book runner for the SR500 sukuk issuance, which was successfully closed through a private placement last May for Ajil Financial Services Company via Ajil Cayman Sukuk – a limited liability special-purpose company.

The Global Islamic Finance Awards are organized by the London-based Edbiz Consulting, an international Shariah advisory firm.

Professor Humayon Dar, Founder of the Global Islamic Finance Awards and Chairman of Edbiz, said that the main consideration for granting this award to the Ajil Cayman Sukuk was “its innovative and pioneering structure that was used in Saudi Arabia for the first time.”

GIB’s Chief Executive Officer Dr. Yahya Alyahya stated, “We are very pleased with this additional recognition of GIB’s leading role in investment banking and the arrangement of sukuk issuances. GIB won many other awards this year; this reflects its pioneering role on one hand and the market’s confidence in its investment banking capabilities on the other hand.”

“GIB has developed considerable expertise in originating, structuring and placing regional sukuk issuances in the GCC over the past few years. We view the decision by the Global Islamic Finance Awards to choose Ajil Cayman Sukuk as the best deal of the year in 2012 as an independent endorsement of GIB’s investment banking expertise,” he added.

GIB and GIB Capital offer innovative solutions in the fields of financial restructuring, private placements, private sale, IPOs, underwriting equity as well as mergers and acquisitions.

Source: Al Arabiya Digital

GIB Capital is a Single Shareholder Company (Commercial Registration No. 1010244294) with paid-up capital of SR 200,000,000.

GIB Capital obtained its license from the Capital Market Authority under license number 07078-37 on 08/07/1428H (corresponding to 22/07/2007G). GIB Capital obtained the approval to proceed with its business activities from the Capital Market Authority on 03/04/1429H (corresponding to 12/04/2008G).

GIB Capital provides corporate finance services in the Saudi capital markets, and is licensed to carry out the following activities by the Capital Market Authority (“CMA”):

  • Dealing as:
    • Principal
    • Agent
    • Underwriter
  • Managing
    • Investment fund management
    • Discretionary portfolio management
  • Arranging
  • Advising
  • Custody

GIB Capital is a subsidiary of Gulf International Bank B.S.C. with registered office at Low Rise Building 1, Granada Business & Residential Park, Eastern Ring Road, P.O. Box 89589, Riyadh 11692, Kingdom of Saudi Arabia.