NCB Capital, a major Saudi provider of investment banking and wealth management services and largest asset manager, is honored as the Best Corporate Advisory provider at the 10th Islamic Business & Finance Awards.

More than 200 Islamic bankers and financiers gathered to celebrate the awards in Dubai on Dec. 10.

“Acknowledging our investment banking achievement on PIF’s acquisition in Korean POSCO E&C is quite an honor for us, especially coming on the heels of being named Best Asset Manager at last year’s event,” commented Sarah Al-Suhaimi, CEO of NCB Capital.

“This year has been a very special one for us and the award is a clear reflection of the superior efforts the Investment Banking team has made to ensure our clients receive the best financial advisory services and execution capabilities,” Al-Suhaimi added.

CPI Financial, publisher of Islamic Business & Finance says its awards set a clear benchmark for excellence in the global Islamic finance industry as it continues to grow and develop. CPI’s awards are intended to distinguish and honor pioneers in Islamic finance who attain success through innovative products and services.

In addition to the successful advisory mandate with PIF, NCB Capital was also the financial adviser and sole placement agent on Saudi-based Khair Inorganic Chemical Industries Company (InoChem), a greenfield industrial venture in the inorganic chemicals sector.

The significant success sprang primarily from NCB Capital’s performance and presentation of detailed financial studies and forecasts clarifying the project’s profitability combined with the project’s goal of contributing to the diversification of the Saudi economy.

NCB Capital was launched in April 2007 as the first investment banking subsidiary in the Kingdom. With a strong commitment to innovation, NCB Capital launched the world’s first Shariah-compliant real estate fund and was the first Saudi investment house to provide hedge funds and tailored structured products.