Qatar First Bank, Qatar’s first independent Shari’ah compliant bank authorised by the QFC Regulatory Authority received the Islamic Finance News (IFN) Qatar Deal of the Year award 2014.
Bringing together over 400 regional and global industry professionals from around the world, the prestigious annual Deals of the Year ceremony event was held at the Ritz Carlton Hotel –DIFC in Dubai. The gala ceremony celebrated achievement among top Islamic bankers, issuers, advisors and Islamic banking and finance institutions.
QFB acted as a Co- Arranger for Ezdan Holdings Group’s first tranche of its USD 500 mn debut syndication in April of last year. The transaction is considered the first fully Shari’ah compliant international syndication Ijarah for Qatari corporate in the real estate sector. The deal attracted a number of local and international banks and was led by Barwa Bank.
Commenting on this recognition Ahmad Meshari, Acting Chief Executive Officer of QFB said: “We are very proud to have received this distinguished award. The award is a testament to the combined efforts that has been put into this landmark transaction. QFB is pleased to have participated in this first of its kind transaction that met Ezdan Holdings objectives while demonstrating the ability of Islamic Banks in Qatar to handle complex Islamic financing structures.”
The Islamic Finance news Awards is well recognized in the Islamic financial industry. It is considered one of the highly credible awards by the global Islamic capital markets. Nearly 30 transactions were nominated for the 2014 IFN Deal of the year, winners were selected on the basis of comprehensive selection criteria including structure, location, and deal size amongst other.