Almarai, a leading dairy and food production company, was recently awarded the Best Corporate Sukuk for its $750 million international sukuk deal issued in July 2023. The prestigious award was presented by the Assets Triple A Islamic Finance Awards at a ceremony held on October 8, 2024, at the St. Regis Hotel in Kuala Lumpur, Malaysia. These awards are highly esteemed in the global finance sector, recognizing exceptional Islamic banks and transactions worldwide. Winners are chosen through a rigorous evaluation process that considers both quantitative and qualitative factors, highlighting the best Islamic institutions and groundbreaking transactions from various countries.
Notably, Almarai is the largest vertically integrated dairy company globally and a key player in food and beverage production in the Middle East. Its products are distributed across the Arabian Gulf, Egypt, and Jordan through an extensive transportation fleet, making it the largest in the region. The success of Almarai’s Sukuk deal is a testament to its strong financial standing and strategic approach to corporate finance. The company’s commitment to innovation and excellence has solidified its position as a market leader in the dairy and food industry.
The team behind Almarai’s successful Sukuk issuance included Danko Maras, the Chief Financial Officer; Ikram Ul Haque, Head of Finance; Imtiyaz Shaikh, Assistant Treasurer; Mansour Alwetaid, Senior Legal Counsel; and Junje Floron, Treasury Manager. Their collective expertise and dedication were instrumental in structuring and executing the Sukuk deal, which ultimately garnered international recognition and acclaim. Almarai’s ability to attract global investors and secure funding through Islamic finance instruments underscores its strong reputation in the financial markets.
Islamic finance has gained traction in recent years as a viable alternative to conventional banking systems, offering ethical and Sharia-compliant financial solutions to a diverse range of investors. Almarai’s successful Sukuk issuance exemplifies the growing popularity and acceptance of Islamic finance instruments in the global market. By tapping into this emerging trend, Almarai has not only diversified its funding sources but also enhanced its reputation as a socially responsible and forward-thinking corporation. The company’s alignment with Islamic finance principles reflects its commitment to ethical business practices and sustainable growth.
In conclusion, Almarai’s Best Corporate Sukuk award is a testament to its market leadership and financial acumen in the dairy and food production sector. The company’s innovative approach to corporate finance and strategic decision-making has positioned it as a frontrunner in the industry. By leveraging the principles of Islamic finance and embracing ethical business practices, Almarai has demonstrated its commitment to long-term sustainability and stakeholder value. As the largest vertically integrated dairy company globally, Almarai continues to set the standard for excellence in the production and distribution of food and beverages in the Middle East and beyond.
