MUFG has been named as the Best Islamic Wholesale Bank by GIFA (Global Islamic Finance Awards) for its work carried out over the last 12 months in EMEA and Asia.

MUFG has arranged recent landmark Islamic syndicated facilities including the syndicated Murabaha financing facilities for Nogaholding and Ma'aden Phosphate Company. In addition, the bank has entered into a bilateral Murabaha facility with the National Shipping Company of Saudi Arabia (Bahri) to finance the acquisition of two vessels.

MUFG also acted as a joint mandated lead arranger on the USD1.8 billion Islamic syndicated facility for Jazan Gas Projects Company – the largest 100% Islamic financed transaction in the world.

MUFG has a significant track record in undertaking book running and lead arranger roles on Sukuk deals. Its presence in key global financial centres allows it to offer clients significant distribution capabilities.

Randy Chafetz, Head of Global Corporate at MUFG, said:

“This award truly demonstrates that our Islamic finance strategy is resonating with clients, and I am delighted that MUFG has won such a prestigious category – a clear result of the strong dedication and combined efforts across the group to support the Islamic finance industry. This commendation from GIFA recognises the mission we started a decade ago with passion and commitment to become a global leading Islamic wholesale banking service provider."

MUFG is one of the world's largest banks and is now well established as the leading Japan-headquartered provider of Islamic finance. Its Islamic services are offered through two Islamic Window licenses: the Malaysian hub mainly covers the Asia-Oceania region, while the Islamic Window in the Dubai International Financial Center predominantly focuses on EMEA, although also offers services to Islamic clients in Central Asia and the Americas.

The awards were presented at a ceremony in Astana, Kazakhstan in September. MUFG was also awarded the Best Islamic Project Finance House by GIFA last year.