NBAD wins two Islamic Finance Awards

ABU DHABI: The National Bank of Abu Dhabi, NBAD, has won two awards at the recent Islamic Finance News Awards.

Named the Deal of the Year and Sukuk Deal of the Year, the inaugural US$490 million International Islamic Liquidity Management Corp (IILM) Sukuk programme, in which NBAD acted as one of the primary dealers, was highly successful.

The inaugural programme constituted part of a USD$3 billion programme created by the IILM to provide a highly liquid, investment grade financial instrument that Islamic banks can trade to manage their short term liquidity.

Speaking on the occasion, Mark Pritchard, Executive Director at NBAD’s Global Markets, said, “NBAD is committed to being innovative within the Islamic liquidity management space. As winner of these awards we have confirmed this, and as a primary dealer in the IILM Sukuk we are now a major player in the secondary market in this instrument.”

SOURCE: WAM