QInvest, Qatar's leading investment bank and one of the most prominent Islamic financial institutions in the world, is pleased to announce that it was presented with the “Best Sukuk Structuring House in the Middle East” award at the London Sukuk Summit 2014, which was held at the Jumeirah Carlton Towers in London, UK.
The award was collected by Hani Ibrahim, QInvest’s Head of Debt Capital Markets, at the Summit’s Gala Dinner and Awards Ceremony. The Awards, which are now in their 8th year, recognise individuals, institutions and financial centres for their outstanding contributions and achievements in further developing the global Islamic finance industry, in particular in the global Sukuk market.
Tamim Hamad Al-Kawari, QInvest’s Chief Executive Officer, said:
“QInvest is proud to be at the forefront of Islamic finance and we are delighted to have our work recognised at such a prestigious event. This award is testament to our hard work and ability to provide effective solutions to our clients for their financing needs. We have an incredibly strong structuring capability and we will continue to be a key player in this area around the world. ”
QInvest’s Hani Ibrahim, – Head of Debt Capital Markets, also gave a keynote speech at the Summit, where he discussed secondary market trading and liquidity in the Islamic finance industry.
Hani Ibrahim, Head of Debt Capital Markets, said:
“The global Sukuk market continues to grow with strength - the total value of Sukuk issuance over a 20-year period up to 2010 was just over US$ 200 billion, whilst the value of Sukuk issuance in the last three years alone has exceeded US$ 330 billion. As the Sukuk market moves towards being a more mature market, the industry needs to develop ways of stimulating greater secondary market activity, which we believe is for the benefit of both the issuer and investor communities.”
The Annual London Sukuk Summit is aimed at addressing the latest developments and innovation in the Sukuk industry and gathers key players and stakeholders including the Rt Hon Baroness Warsi, Senior Minister of State at the Foreign and Commonwealth Office & Co-Chair of the UK Government Islamic Finance Task Force. Other prominent guests at the event included Sir Paul Judge, Sheriff of the City of London and Jaseem Ahmed, Secretary General of the Islamic Financial Services Board (IFSB), the prudential and supervisory standard setting board for the global Islamic Finance industry.
In 2013, QInvest advised on US$ 3.5 billion worth of Sukuk transactions, 20 per cent of total global US$ Sukuk issuance. The bank has followed this up by acting as a bookrunner on Sukuk transactions this year for Saudi Arabia-based developer Dar Al-Arkan (US$ 400 million) and Turkish bank Turkiye Finans (US$ 500 million).