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Top honours for Islamic finance unit

MANAMA: Standard Chartered Bank's Islamic finance arm Saadiq took the lead with the most awards at The Asset Triple A Islamic Finance Awards 2009. The bank was among the top winners, winning nine awards to reinforce its position as the leading bank for Islamic finance at the awards in Malaysia hosted by The Asset magazine.

Saadiq's footing in the region as the best international Islamic bank remains strong as this year's award tally has already crossed 20.

These accolades highlight Standard Chartered Saadiq's ability to execute several landmark deals as well as bringing the best-in-class Sharia-compliant financial services to its stakeholders.

"We are absolutely delighted with these wins," said Standard Chartered Group management committee head - origination and client coverage wholesale banking - V Shankar.

"The awards are testament to Standard Chartered's unparalleled capital market capabilities in the structuring, underwriting and distribution of Islamic finance transactions.

"As the preferred partner for Islamic finance, Standard Chartered has grown from strength to strength. Leveraging on our Islamic origination and extensive experience in markets across Asia, Africa and the Middle East, we have continued to lead the way and will continue to build on this positive momentum to play a dominant role in key Islamic markets," he said.

"Our aim has always been to deliver on market firsts while remaining customer centric," said Standard Chartered Saadiq chief executive officer Afaq Khan.

"We have been setting new benchmarks within the Islamic banking industry across our footprints through our origination capabilities and wide product suite.

"It is our commitment to the market as well as with our stakeholders unwavering support that has made these wins possible."

The awards from The Asset magazine included, best Islamic investment bank, best Islamic investment bank - Middle East, best sukuk house, best Islamic trade finance bank, best sovereign sukuk, best Islamic project finance project deal, best structured Islamic financing and two awards for the most innovative Islamic financing deal. business@gdn.com.bh



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