QNB Capital Wins Three IFN Deal of the Year Awards

QNB Capital, the investment banking arm of QNB Group, has won three Islamic Finance News (IFN) Deal of the Year 2025 awards, recognising its contribution to two landmark sukuk transactions in Qatar and Kuwait.

The investment bank received the IFN Qatar Deal of the Year 2025 award for its role as a joint lead manager in the State of Qatar’s US $3 bn sukuk issuance. It also received the IFN Kuwait Deal of the Year 2025 and IFN Regulatory Deal of the Year 2025 awards for its role as a joint lead manager in Kuwait International Bank’s US $300 million Tier II sustainable sukuk.

The recognition comes amid continued expansion in Islamic finance and growing activity in the global sukuk market. Global sukuk issuance reached US $264.8 bn in 2025, increasing by 12.7% from the previous year, according to S&P Global Ratings. This follows a 21% year on year increase in global Islamic finance assets in 2024 to US$5.98 trillion, according to the ICD-LSEG Islamic Finance Development Report 2025. The State of Qatar transaction marked the country’s return to the international sukuk market after 13 years. The 10-year issuance attracted more than $12 bn in global investor demand, demonstrating strong international confidence in Qatar’s credit profile and broad appetite for high-quality Sharia-compliant instruments.

Commenting on the recognition, Mira Al-Attiyah, Chief Executive Officer of QNB Capital, said: “These awards recognise the importance and complexity of two landmark transactions and reflect the confidence that sovereign and financial institution clients place in QNB Capital. By combining deep regional knowledge with strong execution and access to international investors, we continue to support our clients in achieving their strategic funding objectives while contributing to the development of deeper, more diversified Islamic capital markets.”

Kuwait International Bank’s issuance represented Kuwait’s first Tier II sustainable sukuk. The transaction attracted an order book exceeding US $2 bn reflecting strong global investor demand. The proceeds will be allocated to eligible sustainable projects under the bank’s Sustainable Finance Framework, while the issuance supports the diversification of its funding sources and strengthens its regulatory capital position.