The Asset Triple A
Islamic Finance Awards 2020
Best in sustainable finance and investing

Best sustainable finance
Best sustainable investing
Best sustainable finance
Best green sukuk - Sovereign
Republic of Indonesia US$750 million green wakala sukuk
Green structuring adviser: HSBC
Bookrunners and lead managers: Deutsche Bank, Dubai Islamic Bank, HSBC, Mandiri Securities, Maybank
Second party opinion provider: CICERO
This was the second green sukuk issuance by RoI and the proceeds were used exclusively to finance or refinance expenditures directly related to eligible green projects as defined by the sovereign’s green bond and green sukuk framework.
Best green sukuk - Supranational
Islamic Development Bank €1 billion green wakala sukuk
Green structuring agent: HSBC
Shariah adviser: Islamic Development Bank Group Shariah committee
Bookrunners and lead managers: Citi, First Abu Dhabi Bank, HSBC, LBBW, Natixis, Societe Generale, Standard Chartered, Warba Bank
Second party opinion provider: CICERO
This is the first-ever euro-denominated and the first-ever AAA-rated green sukuk. The coupon is the lowest ever paid by the issuer.
Best green sukuk - Corporate
Majid Al Futtaim Holding US$600 million green sukuk
Green structuring adviser: HSBC
Global coordinators: HSBC, Standard Chartered
Bookrunners and lead managers: Abu Dhabi Islamic Bank, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, Gulf International Bank, HSBC, Standard Chartered
Second party opinion provider: Sustainalytics
This is the first-ever benchmark -size green sukuk by a corporate globally and the first green offering from a non-financial institution in the MENA region.
Best renewable energy sukuk - Hydro
Telekosang Hydro One 470 million ringgit Asean green SRI sukuk
Financial adviser: ZJ Advisory
Shariah adviser: MIDF Amanah Investment Bank
Principal adviser and lead arranger: MIDF Amanah Investment Bank
Lead managers: Bank Islam Malaysia, MIDF Amanah Investment Bank
Second party opinion provider: RAM Sustainability
This is the world’s first greenfield mini-hydro sukuk, which was confirmed by Climate Bonds Initiative. The proceeds of the transaction, which also includes junior bonds of up to 120 million ringgit, will be used to finance the developments of 24MW and 16MW small hydropower plants, using run-of-river hydro scheme located in Sabah.
Best renewable energy sukuk – Solar
Cypark Ref 550 million ringgit murabaha sukuk
Principal adviser, lead arranger and lead manager: Maybank Investment
This is a landmark green financing of Malaysia’s largest grid-connected floating solar PV power plant to date, featuring the first-of-its-kind solar turnkey financing structure.
Best green financing - Healthcare
International Finance Facility for Immunization Company US$50 million sukuk
Lead manager: First Abu Dhabi Bank
The proceeds will be used to provide free vaccines and related health system strengthening support to many of the world’s poorest nations.
Best green financing - Microfinance
BMT Bina Ummah 715 million rupiah retail sukuk
Arranger: Blossom Finance
This is the world’s first microfinance sukuk launched on the blockchain to fund micro-SMEs and entrepreneurs in Indonesia.
Best Asean sustainability SRI sukuk
Edra Solar 245 million ringgit murabaha sukuk
Sukuk sustainability framework adviser, principal adviser, Shariah adviser and lead arranger: OCBC Al-Amin Bank
Bookrunners and lead managers: OCBC Al-Amin Bank, Standard Chartered
Second party opinion provider: RAM Sustainability
Comprising of eight tranches, this is the first sukuk issuance arranged under the Asean sustainability SRI framework and the first solar power project to tap the ringgit sukuk market on a brownfield basis.
Best sustainable investing
Best ESG equity fund
BIMB-Arabesque I Global Dividend Fund
Service provider: BIMB Investment Management
The first multi-currency Shariah ESG global equity fund in Malaysia, it was restructured to a retail unit trust fund in October 2019. Its systematic and rules-based quantitative investment approaches take into account ESG to invest in companies with sustainable financial future.
Best ESG sukuk fund
BIMB ESG sukuk fund
Service provider: BIMB Investment Management
The fund is the first value-based sukuk fund in Malaysia which applies ESG screening for sukuk issuances. Its investment policy and strategies adopt UN Global Compact and ESG analysis, and employs negative screening for Shariah compliance.
Best ESG structured product
ESG Islamic structured product
Service provider: HSBC Amanah Malaysia
This is the first ESG Islamic structured product in Malaysia. The product enables customers to obtain potential return that is linked to the performance of an ESG-related index, providing them an opportunity to invest in a product that matches their values when it comes to environmental and social causes.
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