The EIIB-Rasmala Group has been credited for its role as lead arranger and bookrunner for FWU Group's$100 million Sukuk Al-Wakala programme, which won the Award of Excellence for Most Innovative Sukuk Structure at the 8th London Sukuk Summit, 2014.
The Sukuk Summit took place on 18-19 June at the Jumeirah Carlton Hotel in London, recognising the outstanding contributions and achievements of individuals, institutions, supranationals and financial centres serving the global Islamic financial services industry, and particularly the proliferating global Sukuk market.
Harris Irfan, a managing director and head of investment banking at EIIB-Rasmala, said, "We are proud to have played a key role in both the structuring and arranging of the FWU Group Sukuk and delighted that the company has once again been recognised with another award."
The award-winning FWU Sukuk programme is a securitisation of Takaful insurance policies, providing an opportunity for investors to participate and invest in Sukuk certificates backed by Atlanticlux Lebensversicherung S.A, a BBB rated, multinational insurance provider. The Sukuk has been assigned an investment grade credit rating by Fitch.