MARC has recently been awarded the Best Islamic Rating Agency of the Year 2021 at the 11th Global Islamic Finance Awards (GIFA). This is the sixth time in a row since 2016 that MARC has won this accolade, the most prestigious award for Islamic rating services. This repeated achievement shows the continuous recognition by the global Islamic finance community of MARC's efforts in the development and growth of Islamic finance. The online awards ceremony was streamed live across different platforms on September 14, 2021, where more than 70 awards were presented to winners globally.
"We are humbled in receiving the Best Islamic Rating Agency 2021 award," said MARC Group CEO Datuk Jamaludin Nasir. "This award is a fitting tribute to our team for their perseverance and commitment to excellence. It is particularly rewarding to have our efforts internationally recognised, underscoring our positive impact on the Islamic capital market."
Noteworthy sukuk issuances rated by MARC last year include a RM4.5 billion Sukuk Musharakah Programme issued by a key property conglomerate (where MARC also rated its related sustainability sukuk framework), a RM5.0 billion Islamic Medium-Term Notes (IMTN) Programme issued by a domestic financial institution and a RM3.0 billion IMTN Programme issued by a regasification service provider.
Being the world's largest sukuk market, Malaysia's total sukuk outstanding amounted to around USD278.3 billion or an equivalent of 40.1% of total global outstanding as at end-2020. Malaysia was also the largest issuer in 2020 with around USD66.2 billion worth of sukuk issued, representing 37.9% of total global issuance. As Malaysia continues being a global leader in Islamic finance, MARC will continue to play its role as a responsible capital market intermediary.