RIYADH — Almarai Company received the 2020 Best New Sukuk Award for 2019 transactions, during a virtual ceremony of The Asset Triple A Islamic Finance Awards.

The Asset’s annual Triple A recognition represents the industry’s most prestigious awards for banking, finance, treasury, and the capital markets. The Asset adopts a rigorous approach in selecting the best Islamic institutions and transactions in the various countries.

In February 2019, Almarai launched its Sukuk program that received Best International Sukuk Program award in at GIFA. The program has generated the largest order book ever achieved by a Saudi Arabian corporate at 11x oversubscription, which amounted to 500 million US dollars. It is also the first to be denominated in US dollar by an FMCG company in the GCC countries.

Almarai is the world’s largest vertically integrated dairy company, and the largest food and beverages manufacturer and distributer in the Middle East. Almarai exports its products to GCC States and some Arab countries on the board of biggest transportation fleet in the Middle East. — SG