Citi Islamic Investment Bank has been awarded North America’s best sukuk house for 2026 by Euromoney, following a record year in which the institution arranged $31 billion in Islamic bond issuance during 2025. The recognition underscores the bank’s growing prominence in global sukuk markets and its deepening relationships with major sovereign and corporate borrowers across the Middle East.
The award reflects Citi’s advisory and arranging roles on some of the largest transactions in the Islamic finance space. According to Euromoney’s assessment, “Citi played prominent roles on some of the largest and most strategically important sukuk transactions in the market, supporting sovereign issuers … while also advising leading corporate and financial institution borrowers.”
Strategic Transactions and Market Leadership
During 2025, the bank facilitated capital raising for a diverse range of counterparties spanning sovereigns, financial institutions, and multinational corporations. Notable issuers included Saudi Arabia and Qatar, alongside regional borrowers such as Oman and Bahrain. Corporate mandates encompassed significant transactions for Saudi Aramco, the Saudi Public Investment Fund, and logistics operator DP World. Financial institution clients included Al Rajhi Bank, while regional infrastructure and development entities such as Tabreed, Omniyat Holding, and Maaden also utilized the bank’s sukuk origination capabilities.
The $31 billion volume represents a substantial share of global sukuk issuance and reflects sustained demand for Islamic financing structures among both traditional and emerging borrowers in the Gulf Cooperation Council region.
Organizational Expansion and Regional Positioning
To support its growing Islamic finance operations, Citi Islamic Investment Bank appointed a new head of Islamic Solutions based at the Dubai International Financial Centre during 2025. This appointment signals the bank’s commitment to maintaining regional expertise and deepening its presence in the UAE, a key hub for Islamic financial innovation and capital markets activity.
The bank operates through a specialized regional hub in the United Arab Emirates and maintains additional specialist capabilities in Malaysia, positioning it to serve issuers across multiple jurisdictions and investor bases. This geographic footprint enables coverage of both debt origination and the structuring of Islamic financial solutions adapted to local regulatory frameworks and investor preferences.
Broader Market Context
The recognition arrives as European financial institutions continue evaluating their exposure to Islamic finance products and sukuk markets. While sukuk issuance has traditionally concentrated in the Middle East and Southeast Asia, European banks including those headquartered in the EU increasingly participate in arranging transactions for global borrowers seeking Islamic finance alternatives. The award to a major international bank reflects institutional recognition that sukuk markets represent a material and growing segment of global capital markets activity.
Citi’s positioning in Islamic Solutions also reflects broader industry trends toward sustainable Islamic finance, as highlighted in the bank’s award recognition. This intersection of ESG principles with Shariah-compliant structuring continues shaping demand for Islamic bonds among institutional investors globally.