KUALA LUMPUR: CIMB Islamic, "Islamic Investment Bank of The Year", is one of the participants of the Kuala Lumpur Business Club's (KLBC) business mission to Dubai and Abu Dhabi.
The global Islamic banking and finance franchise of CIMB Group will showcase its innovative Islamic investment banking products and services to encourage investment, capital raising and cooperation in the Gulf region. Among the award winning products that CIMB Islamic will present during the trip include the Islamic bonds (sukuk) it had arranged, Islamic derivatives and Islamic structured investment products.
CIMB Islamic recently won the Global Award for "Islamic Investment Bank of The Year" for the second consecutive year. The Banker, a member publication of the Financial Times Group, UK presented the award to CIMB Islamic on 10 October 2007 at a ceremony in London that was attended by more than 150 senior investment bankers worldwide.
Editors of The Banker stated that the award honours CIMB Islamic's achievements in the Islamic bond (sukuk) sector, the Islamic equity markets and its role in the Islamic asset management. In addition, the Bank's dynamic expansion into Islamic derivatives and structured investment products were among the criteria for its selection. "CIMB Islamic continues to demonstrate its strength in its structuring and distribution capabilities via its large network of investors both in the Far East and the Middle East," they said. The editors noted that CIMB Islamic had no equal in terms of the breadth of Islamic investment banking products and services it provides.
"CIMB Islamic opened up a wide array of opportunities for its clients in the world's diverse and evolving Islamic financial market via its innovative solutions that are syariah compliant," The Banker said. They commended CIMB Islamic for the range of deals it had undertaken given the maturity of its investment banking and capital markets business.
There were 12 global players vying for the awards. The short-listed contenders included the Islamic franchises of all major bulge bracket global investment banks. The editors added that the overall results showed a considerable gap between CIMB Islamic and the second and third-placed banks in this award category.
CIMB Islamic CEO, Badlisyah Abdul Ghani said: "Our focus is to continue growing our business globally with emphasis in South East Asia and the Middle East. We want to enhance the financial market by offering our clients access to modern and suitable financial solutions that are syariah complaint. This provides diversity and choice to what is currently available," he added.
As part of its objectives to grow its business, CIMB Islamic will participate in the KLBC business mission from 3rd to 7th November. An investment conference titled "Why Invest in Malaysia" will kick off the mission on November 4. The KLBC delegates who will attend the conference include His Royal Highness, Raja Dr. Nazrin Shah, the Regent of Perak, who is also the financial ambassador of the Malaysian International Islamic Financial Centre, Datuk Zarinah Anwar, chairman of the Securities Commission, Datuk Mohd Razif Abdul Kadir, Deputy Governor of the Central Bank of Malaysia and Badlisyah Abdul Ghani, the Chief Executive Officer of CIMB Islamic.
Commenting on the Malaysian business mission, Badlisyah said it is an excellent opportunity for the country to demonstrate its Islamic finance capabilities. "The Banker described CIMB Islamic as "the powerhouse for this industry globally" and we want to share our experience with the rest of the world," he said. CIMB is the sole Malaysian and Asian bank to have won a global investment banking award category by the Banker. "Winning it two consecutive years is a testimony to the enabling business environment provided the Malaysian International Islamic Financial Centre (MIFC) where CIMB Islamic is headquartered," described The Banker.
CIMB Islamic has more than USD1 billion in Islamic assets under management in several asset classes including traditional equities, sukuk and money markets as well as alternative investments in the form of private equity and real estate.
Worth mentioning, CIMB Islamic opened a branch in the Kingdom of Bahrain, under license of Bahraini Central Bank, based in Bahrain in the Gulf region, as a breakthrough towards the Middle East. This was stated by Mr. / Ahmed Alrabieh, director general of CIMB Islamic Bahrain.
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About The Banker
The Banker is the flagship publication of Financial Times, UK and has been in circulation since 1926. The magazine is used as a resource by industry for vital information on all aspects of banking and the bank ratings by tier one capital are considered to be the definitive benchmarks. Its awards are the most highly respected in the financial fraternity.
CIMB Islamic is the global Islamic banking and finance franchise of CIMB Group. CIMB Group is Malaysia's second largest financial services provider and one of Southeast Asia's leading universal banking groups. It offers consumer banking, investment banking, Islamic banking, asset management and insurance products and services. Headquartered in Kuala Lumpur, its key regional offices are located in Singapore, Indonesia and Thailand. CIMB Group operates its business through three main brand entities, CIMB Bank, CIMB Investment Bank and CIMB Islamic. CIMB Group is also the majority shareholder of PT Bank Niaga in Indonesia. CIMB Group is owned by Bumiputra-Commerce Holdings Bhd, which is listed on Bursa Malaysia with a market capitalization of over US10 billion.
About Kuala Lumpur Business Club
KLBC is a networking, support and business development organisation for leadership among businessmen and professionals. The organization's objective is to drive success among its individual members, thereby contributing to the economic, social and political well-being of the business community and their businesses and the country as a whole. It brings together leaders in all types of business.
KLBC is a recognised, respected and trusted businesses and businesses institution, which serves as an advocate and partner in helping businesses and business leaders in Kuala Lumpur and other parts of the nation build their future. It is the voice of Malaysian business champions to reinforce economic growth and corporate responsibility.
© Press Release 2007
