Standard Chartered Saadiq wins Best Project Finance House and Deal of the Year

The Best Project Finance House and Deal of the Year award for Doraleh Container Terminal, which is part of DP World, is a $263m Syndicated Project Finance facility.

It is the single largest foreign direct investment in the country and first ever limited recourse project financing in Djibouti.

The project entails the development of a Greenfield container terminal in Djibouti by DP World and the government of Djibouti.

The Pakistan Deal of the Year Award for Engro Chemical Pakistan Limited represented the expansion project for the company which is the world's largest single-train urea plant.

The overall funding package comprised a number of financing instruments and is the country's largest Project Finance and Corporate Finance transaction in the last ten years.

The deal is also the largest private sector Islamic Finance transaction ever, besides being the largest fertilizer plant financing executed to date.

The deal is also the largest private sector Islamic Finance transaction ever, besides being the largest fertilizer plant financing executed to date.

Shayne Nelson, Chairman of Standard Chartered Saadiq commented:

"The dynamics of the world economy are changing with growing global demands for innovative structured finance solutions. Our strong heritage across our key markets allows the Bank to deliver collaborative solutions to our local customers. To date, Saadiq has developed over 100 financial products and services for both our wholesale and consumer banking businesses. This bears testament to the leadership behind this new brand, Saadiq, which was globally launched in 2007."

Afaq Khan, Chief Executive Officer Standard Chartered Saadiq said on the awards, "This proves our commitment to delivering creative solutions to our clients with diverse financing capabilities. We are confident that Standard Chartered Saadiq will continue to lead the way as the pioneering financial institution for Islamic Banking project and corporate finance deals globally. The awards further reaffirm our technical and deep industry knowledge."

Standard Chartered Saadiq offers an extensive range of innovative Shariah compliant products including deposits, investments, financing and capital markets capabilities ranging from treasury and hedging products.

All products are certified by an independent Shariah board comprising of internationally reputed scholars.

The Bank prides itself on receiving numerous accolades for Islamic Banking solutions since 2005 and continues to play a significant role in helping shape the Islamic Banking industry across its key markets in Asia, Africa and the Middle East.

Saadiq has taken a leadership role in the development of project finance within the Islamic banking sector.

The Bank goes beyond being an active and consistent provider of Islamic finance solutions, but also provides leading underwriting and distribution capabilities.

Since the brand inception in 2007, Saadiq has garnered a reputation as a leader in Islamic Financing having arranged more than $10bn in Islamic structured financing for its clients.

Recently the bank was involved in the landmark Dhs1,000,000,000 Sukuk Issue for the Government of Ras Al Khaimah, acting through the Investment & Development Office.

This first tranche issued off the Government's $2bn Sukuk Programme, was 1.5 times oversubscribed at the time of pricing with a total book size of over Dhs1.5bn.

This was the first Ijara Sukuk programme to be established by a sovereign from the region.