THE ISLAMIC BANK OF ASIA - APPOINTED AS LEAD ARRANGER FOR SINGAPORE'S FIRST SUKUK ISSUANCE PROGRAMME
SINGAPORE, 19 January 2009 - The Islamic Bank of Asia announced today that it is one of the two lead arrangers appointed for the SGD 200 million Sukuk Al-Ijara Trust Certificate Issuance Programme by the Monetary Authority of Singapore.
The bank will be placing an order for the sukuk shortly, making it the first investor of the programme.
Mr Vince Cook, CEO of The Islamic Bank of Asia, said, "This sukuk issuance programme provides an essential instrument for the bank in the management of its local currency liquidity, that will also facilitate the expansion of our client value proposition to include Singapore-dollar based, Shariah compliant products and solutions.
"We at The Islamic Bank of Asia are extremely proud to have played a significant role in the creation of Singapore's first sukuk, the world's first reverse enquiry issuance progamme from a "AAA" rated sovereign. As one of the lead arrangers, we have further demonstrated our strong proposition as an innovative and credible Islamic bank fast growing from strength to strength in Asia and the Middle East," he added.
About The Islamic Bank of Asia
Incorporated in May 2007 with DBS Bank and prominent investors from the Gulf Cooperation Council (GCC) countries as shareholders, The Islamic Bank of Asia (IB Asia) combines banking expertise and insights of Asia with strong Islamic banking credentials to tap into opportunities within Asia and the Middle East. Headquartered in Singapore, IB Asia focuses on commercial banking, corporate finance, capital market and private banking services. To find out more about IB Asia, log on to www.islamicbankasia.com.