Total of 14 Awards won by Standard Chartered Islamic Banking in 2008

10 March 2009, United Arab Emirates - 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 remains focused on delivering shariah-compliant financial products and solutions seamlessly across our geographic footprint. To be voted 'Best International Islamic Bank' is testament to our 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."

Standard Chartered Saadiq celebrated its first anniversary as a global Islamic banking brand last year offering solutions to SMEs 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.

-Ends- 

Standard Chartered - leading the way in Asia, Africa and the Middle East
Standard Chartered PLC, listed on both London and Hong Kong stock exchanges, ranks among the top 25 companies in the FTSE-100 by market capitalisation. The London-headquartered Group has operated for over 150 years in some of the world's most dynamic markets, leading the way in Asia, Africa and the Middle East. Its income and profits have more than doubled over the last five years primarily as a result of organic growth and supplemented by acquisitions.

Standard Chartered aspires to be the best international bank for its customers across its markets. The Bank derives more than 90 per cent of its operating income and profits from Asia, Africa and the Middle East, generated from its Wholesale and Consumer Banking businesses. The Group has around 1,750 branches and outlets located in over 70 countries. The extraordinary growth of its markets and businesses creates exciting and challenging international career opportunities.

Leading by example to be the right partner for its stakeholders, the Group is committed to building a sustainable business over the long term and is trusted worldwide for upholding high standards of corporate governance, social responsibility, environmental protection and employee diversity. It employs 75,000 people, nearly half of who are women. The Group's employees are of 115 nationalities, of which 60 are represented among senior management.

For more information, please visit: www.standardchartered.com 

For further information please contact:
Lilian Yong-Babani
Regional Head Corporate Affairs Middle East and North Africa
Tel: +971502401273
Email: Lilian.Yong-Babani@standardchartered.com

© Press Release 2009