Standard Chartered Bank and Kuwait Finance House/Pacific Star's Baitak Asian Real Estate Fund I (Labuan) Ltd signs Singapore's first Murabahah financing facility

Notes and media contacts

Standard Chartered - leading the way in Asia, Africa and the Middle East
Standard Chartered is one of the world's most international banks, employing over 40,000 people, representing 80 nationalities, across its network. Standard Chartered operates in over 1,200 locations (including subsidiaries, associates and joint ventures) in more than 50 countries in the Asia Pacific Region, South Asia, the Middle East, Africa, the United Kingdom and the Americas.

Standard Chartered PLC is listed on both the London Stock Exchange and the Stock Exchange of Hong Kong and is in the top 25 FTSE-100 companies, by market capitalisation.

It serves both Consumer and Wholesale Banking customers. Consumer Banking provides credit cards, personal loans, mortgages, deposit taking and wealth management services to individuals and small to medium sized enterprises. Wholesale Banking provides corporate and institutional clients with services in trade finance, cash management, lending, securities services, foreign exchange, debt capital markets and corporate finance.

Standard Chartered is well-established in growth markets and aims to be the right partner for its customers. The Bank combines deep local knowledge with global capability. The Bank is trusted across its network for its standard of governance and corporate responsibility as well as its commitment to making a difference in the communities in which it operates.


About Pacific Star Group:
The Pacific Star Group is a leading real estate investment, fund management, asset management and development management services group in Asia with a premier global investor base. Since its inception in 2001, the Pacific Star Group has transacted deals in prime grade A office and retail properties in Asia especially in Singapore and China valued at over US$2.3 billion. The Pacific Star Group is a member of the manager and property manager of Macquarie MEAG Prime Real Estate Investment Trust.


About Kuwait Finance House:
Incorporated in the State of Kuwait in 1977, Kuwait Finance House (KFH) is listed on the Kuwait Stock Exchange. A market leader in the Islamic banking industry in Kuwait and a leading player worldwide, KFH is engaged in providing Islamic banking services, including consumer banking, real estate financing, lease financing, trade finance, direct investments and portfolio investing, all of which are conducted in strict compliance with Islamic Shariah. KFH had been accorded an upper medium grade (high creditworthiness) investment credit rating of "A2" by Moody's Investors Service, as well as a A-rating by Standard & Poors. Kuwait Finance House was last year granted an Islamic banking license to operate in Malaysia and its first branch in Kuala Lumpur was opened in August 2005.


For more information, please contact:

Irene Ngoo
Corporate Affairs
Standard Chartered Bank
Tel: +65 6530 3452