- ADIB wins: Best Islamic Private Bank; Regulatory Capital Deal of the Year; Best Islamic Bank in Egypt; Hybrid Deal of the Year; Ijarah Deal of the Year; UAE Deal of the Year; Sovereign Deal of the Year; and Indonesia Deal of the Year.
Abu Dhabi, 20 March 2019: Abu Dhabi Islamic Bank (ADIB), a leading financial institution, has won eight awards at the Islamic Finance News (IFN) Awards ceremony held in Dubai, including Best Islamic Private Bank and Regulatory Capital Deal of the Year for its US$750 million Tier 1 Sukuk.
In 2018, and in support of the bank's growth strategy, ADIB's successfully raised US$750 million of additional Tier 1 through a perpetual sukuk, becoming the first bank in the UAE to issue a fully Basel III-compliant instrument under the new regulations issued by the Central Bank of the UAE. The issue was three times oversubscribed, accumulating US$2.1 billion in orders.
The IFN Awards is one of the Islamic finance industry's most prestigious awards ceremonies, honouring institutions which have displayed leadership, innovation and excellence in deal execution over the last year. Established in 2006, the IFN Awards have grown significantly since this time as demand for Sharia'a-compliant products and services increased manifold around the world. The winners are selected by a panel of independent experts who judge each transaction based on a set of predetermined criteria.
This past year has been one of the most active years in ADIB's history. Among its many milestones was the strengthening of the bank's capital position through a highly successful rights issue and issuance of a Tier 1 perpetual sukuk. As a leading bank in the Islamic finance sector, ADIB thrives to provide its customers with seamless experiences and products that meet world-class standards, because essentially, customers come at the core of everything ADIB does.
ADIB has received numerous awards for its leading banking proposition in recent months, including 'Best Islamic Financier' at the International Trade Finance Awards 2019, 'World's Best Islamic Bank' by the FT's The Banker Magazine, 'Best Premium Banking Service in the UAE' from Banker Middle East, and 'Private Bank in the Middle East for Islamic Finance' by Private Banker International.