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Most improved Islamic bank in Asia |
Standard Chartered launched its Islamic arm, Saadiq, in 2007 and just under two years later it launched Standard Chartered Saadiq Berhad, Saadiq’s Malaysian unit. Since then Standard Chartered has continued to invest in its Islamic franchise in Asia and the results have been especially clear in 2010.
A good example is the S$750 million ($582 million) syndicated murabaha facility for Singapore-based Parkway Holdings Limited, one of southeast Asia’s largest health care providers.
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