Standard Chartered awarded

KARACHI: Islamic Finance News (IFN) recognised Standard Chartered Saadiq for the Best Deal of the Year Award for successfully closing the US dollar dominated government of Pakistan International Sukuk, a statement said Monday. The bank won the award for competence and commitment to the clients.
Standard Chartered was one of the lead advisors to the government of Pakistan in the recently concluded International Sovereign Sukuk transaction.
The bank played an instrumental role in resolving a roadblock around asset structuring. This enabled smooth execution of International Sovereign Sukuk which raised $1 billion for the country for 5 years at 6.75 percent per annum (50 bps less than conventional sovereign issue).
Standard Chartered Pakistan Islamic banking head Azhar Aslam said, “Standard Chartered’s global expertise, strong on-the-ground presence and deep local market insights give us a distinct competitive edge to provide financing structures that enable us to deliver value to our clients.”