Sharjah Islamic Bank wins Sukuk Deal of the Year 2020 Award
- Date: 19-Sep-2020
- Source: Saudi Gazette
- Sector:Financial Services
- Country:UAE
Sharjah Islamic Bank wins Sukuk Deal of the Year 2020 Award
SHARJAH — Sharjah Islamic Bank's (SIB) $500 million Sukuk received the ‘Sukuk Deal of the Year 2020', at the 10th Global Islamic Finance Awards (GIFA). The bank was acknowledged with the award, during a virtual ceremony held on Sept. 14.SIB, which enjoys strong investment grade ratings of A- by Standard & Poors, A3 by Moody's, priced a $500 million (AED1.83 billion) 5-year sukuk, with a profit rate of 2.85 percent per annum.The prestigious award is another achievement for the bank, especially after they have successfully expanded their investment and financing services across individual and