March 9, 2009 at 3:11 am
Standard Chartered Saadiq, the Bank’s Islamic banking unit, has been named ‘Best International Islamic Bank’ for 2009 by Euromoney. A number of significant deals the Bank closed throughout 2008 including the first Sovereign Deal for the Government of Pakistan and a Project Finance Deal for Al Ma’aden Phosphate Company, contributed to the win.
Standard Chartered’s Group CEO, Saadiq, Afaq Khan, commented:
“The Bank delivering shariah-compliant financial products and solutions seamlessly across our geographic footprint. To be voted ‘Best International Islamic Bank’ is testament to our Islamic banking team’s ability to combine Shariah expertise with strong business understanding to meet with our customers business needs. The trust and the partnership with our customers and product partners have provided us the ability to deliver on a number of industry firsts that now serve as a benchmark across the markets for future similar deals.”
Azrulnizam Abd Aziz.
Azrulnizam Abd Aziz, CEO, Standard Chartered Saadiq Berhad, said: “These multiple recognitions represent our growing success and continuous commitment in providing innovative banking solutions based on Islamic values. You can count on us to meet all your Islamic banking needs with our tailored advisory and financing solutions. We would like to thank our customers, regulators, shariah scholars for their guidance and to industry players. Saadiq in Malaysia will continue to be the right partner servicing our clients with innovative shariah compliance solutions and improving our customer experience.”
Standard Chartered Saadiq celebrated its first anniversary as a global Islamic banking brand last year offering solutions to Small and Medium Enterprises including Cash, Trade Finance and Forex, and product offerings to individuals including mortgages, personal and auto finance, as well as third party distribution of Islamic funds. In 2008 Saadiq was presented with14 additional awards for major achievements in the Islamic banking field including:
Six deal specific awards from Islamic Finance News Awards – Deals of the Year 2008
- Sukuk of the Year, for Tamweel Sukuk
- Sovereign Deal of the Year, for Government of Pakistan Domestic Sukuk
- Project Finance Deal of the Year, for Al Ma’aden Phosphate Company
- Brunei Deal of the Year, for Brunei Gas Carriers
- Kuwait Deal of the Year, for The Investment Dar Company
- Pakistan Deal of the Year, for Government of Pakistan Domestic Sukuk
This brings the total number of awards for Saadiq to 28 since 2007.