Winners of IFN Deals of the Year 2017 revealed

International Islamic finance news provider Islamic Finance News (IFN) has announced the winners of the IFN Deals of the Year (DOTY) 2017, recognized as the most prestigious Islamic capital market honor distinguished for its inclusivity, impartiality and independence.

A total of 425 unique nominations from across the world were submitted for the global award spanning 35 country and sector categories. Malaysian deals dominated 33% of the wins, followed by the UAE (15%) and Saudi Arabia (10%); the mix of victors was represented by transactions originating from across the Middle East, Asia and Africa.

Some of the most notable themes from the deals submitted were the rise of corporate transactions and a shift from real estate deals (an Islamic finance market favorite) to energy (both traditional and alternative) as well as socially responsible financing structures. These underscore the expanding breadth and depth of the Islamic capital markets, and evolving capital-raising strategies of businesses as ethical and social impact financing continue to gain momentum.

2017 was an exceptional year for the Islamic capital market, and there were numerous deals worthy of consideration for the final shortlist for the overall DOTY. This year, the winning deal will be announced at the IFN Awards Gala held at the Ritz-Carlton DIFC on the 11th March 2018.

The five included on this shortlist are:

• ABG Sukuk: This regulatory capital Sukuk for the Al Baraka Banking Group was a testament to the resilience of Bahrain. It was also an affidavit for the importance of unrated emerging market banking groups.
• Quantum Solar Park (Semenanjung): The project financing contributed to national sustainable energy goals in Malaysia as a green socially responsible Sukuk. It also won recognition as a zero emission project.
• KSA Sukuk: The GCC’s G20 champion came to market with an inventive approach to the hybrid asset-light structure. And it came out with the biggest issuance of any Sukuk ever.
• Airport Financing Company FZE (FINCO): FINCO represents an ingenious combination. The importation of platform-based syndication in tandem with the adoption of a novel Ijarah-based concept.
• Scatec Solar for six companies: Aswan PV Power, Kom Ombo for Renewable Energy, Red Sea Solar Power, Upper Egypt Solar Power, Zafarana Solar Power, Daraw Solar Power; and Banque Misr: Scatec is green-squared: solar power and Islamic finance. The deal brings European green energy investors and producers together with development banks to address Egypt’s power needs in a clean and sustainable way.

Each of these transactions represented innovation, new players and thinking out of the box. Each brought something new to the global and local Islamic finance markets and each has a worthy claim to the crown. However, only one deal can win the ultimate honor. Find out in March which deal came top for 2017.

The full list of winners is attached and it may also be accessed it at https://www.islamicfinancenews.com/ifn-deals-of-the-year-2017.html.