Emirates Islamic wins award for ‘Best Islamic Real Estate Deal’ at the Euromoney Islamic Finance Awards 2023

Emirates Islamic wins award for ‘Best Islamic Real Estate Deal’ at the Euromoney Islamic Finance Awards 2023

Dubai: Emirates Islamic, one of the leading Islamic financial institutions in the UAE, today announced that it has received the ‘Best Islamic Real Estate Deal’ award at the prestigious Euromoney Islamic Finance Awards 2023 for leading the Abdulwahed Ahmad Rashed Bin Shabib financing deal.

The bank supported Abdulwahed Ahmad Rashed Bin Shabib, a leading Dubai-based conglomerate, in consolidating a majority of its financing exposure under the Emirates Islamic umbrella, complemented by comprehensive cash management solutions covering various verticals.

The innovative financing deal used a liquidity Murabaha structure to ring-fence cash flows of the wider company across various business verticals, thus providing a blueprint for similar deals in other sectors facing challenging market conditions.

The proceeds from securitising the existing real estate assets enabled the company to diversify its overall business interests and position itself for future investments in sectors including governmental services, pharmaceutical, hospitality and distribution, thus contributing towards the development of the local UAE economy.

Abdulwahed Ahmad Rashed Bin Shabib, Founder & Chairman of Bin Shabib Group added, “We are excited to learn about the recognition received from Euromoney in relation to our landmark deal. We wish to place on record the unique structural capabilities, innovative liquidity solutions and the esteemed customer service