S&P scoops two further awards for Best Ratings Agency in the Islamic Finance Industry
10/03/2014 2:54 pm EDT


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Standard & Poor’s Ratings Services (S&P) has won two further prestigious awards that recognise its expertise in the rating of Islamic Finance institutions and instruments.

S&P was named Best Ratings Agency at the International Takaful Awards 2014 presented at the International Takaful Summit 2014 held on 25 February, 2014 in Abu Dhabi. A day ahead of this, S&P was also named the Best Ratings Agency for 2013 at the Islamic Finance news (IFN) Awards held in Dubai. In a further validation of S&P’s expertise, Malaysia-based International Islamic Liquidity Management Corp’s (IILM) $490 million sukuk programme, solely rated by S&P, won the overall Deal of the Year at the IFN Awards.

This is the seventh consecutive year that S&P has received the Best Ratings Agency Award at the International Takaful Awards, and the third time that S&P has been named the Best Ratings Agency at the Islamic Finance News Awards, reinforcing its position as the leading rating agency for Islamic Finance.

The awards were received by Stuart Anderson, Managing Director & Regional Head Middle East at Standard & Poor’s Ratings Services. A team of S&P analysts representing the agency’s Islamic Finance practice group were present at the awards ceremony.

Anderson said: “S&P is pleased to receive these two prestigious recognitions for its expertise in rating Islamic institutions and instruments. The awards are testament to the breadth and depth of S&P’s understanding of Islamic capital markets and its commitment to supporting the growth of this industry.

“The rise of Islamic finance has been impressive during the past decade, and we believe Sharia-compliant assets are likely to sustain double-digit growth in the coming two to three years. We continue to be strongly committed to helping global investors better understand Islamic Finance not only through our ratings expertise but also our research. Furthermore, we are keen to continue raising awareness and improving understanding of measuring, monitoring and managing investment risks and opportunities in this fast-evolving sector.”

The International Takaful Awards 2014 recognise the achievements of Takaful companies that have demonstrated superior quality and distinguished themselves from their peers while the Islamic Finance news Awards honour the best players in the global Islamic Finance capital markets.

S&P’s in-house, global team of dedicated analysts not only monitors the credit quality of companies and instruments it rates, but also formulates coherent, transparent rating methodologies, and timely opinions about trends shaping the Islamic finance industry. The ratings agency rates a total of 25 Islamic Finance institutions and about $52 billion of outstanding Sukuk.

Contact:
Baiju Francis/Dhanya Isaac
Weber Shandwick MENA
Tel: +971 (0) 445 42 22

Raeda Kassab
Standard & Poor’s
Tel: +971 4 372 7171

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