The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.


All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Banking

Islamic finance awards: Most improved Islamic bank in Asia

Most improved Islamic bank in Asia
Standard Chartered Saadiq

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. Standard Chartered was joint arranger on the deal, and the transaction is one of the largest Singapore dollar murabaha facilities completed in Singapore, with a group of banks.

It was Parkway’s first Islamic funding exercise and a symbolic debut following the firm’s recent acquisition by Health care Holdings Limited, a subsidiary of Khazanah Nasional Berhad, the Malaysian government holding company.

Another good example is the M$400 million ($130 million) sukuk for Padiberas Nasional Berhad, Malaysia’s national rice industry regulator and distributor. Standard Chartered was joint lead arranger and joint lead manager on the deal, which was opened and closed within a day, with three times oversubscription.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree