BIBD Bags 6 Awards at Islamic Finance Awards

by Reedz on July 6, 2013


Pic 1  The Asset Triple A Islamic Finance Awards 2013

BIBD was awarded in six categories by The Asset Triple A Islamic Finance Awards 2013 at an award ceremony that was held at the InterContinental Kuala Lumpur, Malaysia.

BIBD was presented with awards for “Best Islamic Bank, Brunei”; “Best Islamic Retail Bank, Brunei”; “Best Islamic Trade Finance Bank, Brunei”; “Best Islamic Loan Syndication” and “Best Islamic Deal, Turkey” for Albaraka Turk US$450 million syndicated trade finance in which BIBD acted as one of the joint arrangers and bookrunners. The Bank also received the “Best Islamic Deal, Brunei” for its part as one of the mandated lead arrangers for Brunei Gas Carriers Sdn Bhd (BGC) US$170 million limited-recourse Islamic Financing facility.

Present on hand to receive the prestigious awards on behalf of BIBD were Haji Minorhadi Haji Mirhassan, Head of Institutional Banking and Sabri Ulus, Head of Treasury and Markets.

Hj Minorhadi commented “This represents another momentous milestone for BIBD and these accolades commemorate all the strides BIBD has been pursuing at the international level, making a mark in the international Islamic finance arena”.

The BGC transaction, for which BIBD was awarded the “Best Islamic Deal, Brunei ” was the largest financing transaction in Brunei Darussalam in 2012, which also attracted participation from other leading international banks in Asia. It involved the refinancing of a previously owned vessel, along with the financing of a new vessel. This innovative Shariah compliant facility has a sound financing structure with a comprehensive security package reflecting the importance of the project-driven nature of the financing. This transaction increases the capabilities of BGC and is an add-on to its existing fleet of vessels, which plays a fundamental part in supporting the LNG supply chain from Brunei to Japan and Korea. This, in turn, is paramount to the long-term economic future of Brunei Darussalam.

The Asset Triple A Awards is Asia’s defining recognition for excellence in the industry. Now into its second decade, the perception and appreciation of The Triple A’s continues to strengthen. This reputation has been built upon the stringent methodology, combined with the rigorous approach to the selection of the winners of the coveted Triple A. The awards are adjudicated by The Asset’s Board of Editors who collectively have broad and profound experience, stretching over two decades in evaluating industry awards in Asia.

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