Almarai wins Best International Sukok Program 2019
Almarai Company received Best International Sukok Program 2019 award, one of the Global Islamic Finance Awards “GIFA” awards at a ceremony held in Cape Town, South Africa.
Almarai launched the first international issuance of its Sukok last February. Demand exceeded 10 folds of issuance amount, which was US$ 500m. This is the biggest purchase demand received by a Saudi company. Almarai’s Sukok are the first US$ Sukok issued by a food and beverage company in the GCC countries. It is also the first international issuance of Sukok by a Saudi company at high credit valuation.
The GIFA awards is a prestigious awards program in banking services and Islamic finance created by the Government of Malaysia in 2017 to promote the Islamic finance institutions internationally.