Euromoney innovations in Islamic finance 2016: Employees Provident Fund

£132 million ($187 million) secured Islamic facility

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Arranger: Standard Chartered

This is the sort of complicated deal that has structuring advisers salivating: multi-jurisdiction, multi-structure, and many complexities to be resolved. At Standard Chartered, the sole arranger, the deal involved six different product groups from leveraged finance to commercial real estate.

But there was more to it than complexity for the sake of it. Though small, this was an interesting real estate financing deal and an important part of the Malaysian retirement scheme’s transition towards Islamic finance, which is in itself an important step.

The point of the deal was...