Top honours for StanChart's Saadiq operations
Manama, March 1, 2011
Standard Chartered Bank's Saadiq's leadership position in Islamic banking was celebrated at the Euromoney Islamic Finance Awards.
The bank was presented with three awards - 'Best Islamic Project Finance House', 'Most Improved in Asia' and Standard Chartered Bank Saadiq chief executive officer Afaq Khan was honoured with a personal achievement award for his 'Outstanding Contribution to Islamic Finance'.
Standard Chartered's leadership in Islamic banking has continued to gain external recognition. Over the past four years, Standard Chartered Saadiq has received more than 66 industry awards.
'We are very pleased to win these awards which recognise our contributions in major Islamic markets,' said Khan, who is based in the UAE.
'Our close working relationships with regulatory and industry bodies have been imperative in the development of the Islamic banking sector. I am honoured to be presented the personal achievement award.
'This award is a tribute to the dedication, professionalism and combined effort of the Saadiq team and colleagues across the bank.'
To date, Standard Chartered Saadiq has rolled out more than 150 Islamic financial products and solutions.
These extend across the entire client spectrum including retail, corporates, financial institutions and government bodies for wholesale and consumer banking.
Offerings such as the Islamic commodity hedging product and Sharia-compliant US dollar Nostro account have earned the bank the reputation as a provider of innovative, cutting-edge Islamic solutions and gained recognition as a thought leader and innovator in the market.-TradeArabia News Service