KUALA LUMPUR: Cagamas Bhd has reaffirmed its leadership position in its contribution towards the development and promotion of Islamic Finance when it clinched several awards recently at The Asset Triple A Islamic Finance Awards 2021 virtual ceremony.

       The National Mortgage Corporation of Malaysia said on Monday it was honoured with the prestigious Islamic Issuer of the Year - Quasi-Sovereign (Issuer/Adviser) award.

       It was also adjudged the Best Asean Sustainability SRI Sukuk - Quasi-Sovereign (Best in Sustainable Finance) and the Best Asean Sustainability SRI Sukuk - Quasi-Sovereign (Best Deals by Country) awards for its RM100mil Sustainability SRI Commodity Murabaha sukuk.

       The awards were given in recognition of Cagamas’ strong performance during the period under review.

       The Asset said Cagamas was at the centre of Malaysia’s capital market development and a big promoter of Islamic Finance, which now includes the market defining Asean sustainability SRI sukuk issuance which will pave the way for future Cagamas issuances.

       As the Islamic Issuer of the Year, The Asset applauded Cagamas for continuing to play a key role in financing the Malaysian sukuk market and acting as a benchmark for other issuers in Malaysia.

       Cagamas president and CEO Datuk Chung Chee Leong said the conferment of these coveted awards reaffirms Cagamas’ regional leadership position in the Islamic Finance space.

       “Our expansion into sustainable finance is a natural progression in our bid to develop a sustainable Islamic capital market. Recognising that sustainability is a journey, our expertise and insights on Islamic financing will continue the momentum towards bridging sustainability and Islamic financing to help our clients tap into the capital markets,” he said.

       Established in 2010, The Asset Triple A Islamic Finance Awards are among the industry’s most prestigious awards in what has become one of the fastest growing and most promising niches of global finance.

       The Asset adopts a rigorous approach in selecting the best Islamic institutions and transactions in the various countries that define the industry. Point scores for both quantitative and qualitative factors are combined to determine the winners.

       Additionally, Cagamas clinched the GIFA Market Leadership Award (Islamic Securitisation) at the 11th Global Islamic Finance Awards (GIFA) virtual ceremony recently. The award recognises Cagamas’ contribution towards the growth of the capital markets, Islamic finance and other priority sectors through the issuance of innovative instruments.

       “This acknowledgement is a testament to the dynamic synergy within the organisation which strives to deliver the best solutions and value to our stakeholders. Amidst the challenging market conditions, Cagamas will continue to innovate in the Islamic Finance space to cater to the expanding needs of sophisticated global investors, which includes the rising demand for Environmental, Social and Governance (ESG) investments,” said Chung.