Alliance Investment Bank is the winner of the “Most Innovative Deal” under the “Best in Sustainable Finance” category recently at The Asset Triple-A Islamic Finance Awards 2022.
The deal was for the first tranche of Agroto ASEAN Sustainability SRI Sukuk, amounting to RM200 million in nominal value in August 2021. The sustainability bond issuance is the world’s first agriculture-based Sustainable and Responsible Investment (SRI) sukuk issuance.
Agroto ASEAN Sustainability SRI Sukuk was managed under Alliance Investment Bank as Joint Lead Manager then.
Alliance Investment Bank’s capital markets business was transferred to Alliance Islamic Bank in April 2022, making it one of the few local Islamic banks with in-house capabilities that provide comprehensive corporate and capital markets solutions.
“The ASEAN Sustainability SRI Sukuk issuance represents an innovative step forward for sustainable financing as the proceeds were used towards promoting economic viability and supporting social responsibility. At Alliance Bank, we are committed to helping business owners adopt practical environmental, social and governance (ESG) practices to create value for the business, community and environment,” Mr Michael Ng Chow Hon, Chief Executive Officer of Alliance Investment said.Bank.
The funds raised were used to support Agroto’s modern, integrated farming operations. Whilst Agroto’s aim is to improve access to locally grown, fresh and healthy produce, and to contribute to the development of a healthy and sustainable food ecosystem.
“We are pleased to be able to help Agroto accelerate its sustainability journey to strengthen Malaysia’s food security. This partnership is a testament to the Bank’s sustainability focus of building alliances to provide sustainable financing opportunities and help customers adopt sustainable business practices,” added En Rizal IL-Ehzan Fadil Azim, Chief Executive Officer of Alliance Islamic Bank.
