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Posts Tagged ‘Standard Chartered

StanChart Malaysia appoints Islamic subsidiary CEO

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Points of Essence:

  • Standard Chartered Saadiq Berhad of Malaysia has appointed Azrul Nizam Abdul Aziz as its new CEO. Saadiq Berhad is the Malaysian based Islamic subsidiary of Standard Chartered Bank. Saadiq is the StanChart’s global brand of Islamic banking.

KUALA LUMPUR, Nov 5 (Reuters) – The Malaysian unit of Standard Chartered has appointed Azrulnizam Abdul Aziz as chief executive of its Islamic subsidiary, the lender said on Wednesday.

Azrulnizam, who was previously head of the bank’s Islamic banking division, will now lead Standard Chartered Saadiq Berhad, the bank said in a statement. (Reporting by Liau Y-Sing; Editing by Alex Richardson)

Source: http://www.reuters.com

Note: See more of Stanchart Islamic here.

Written by Suapi Shaffaii

November 5, 2008 at 10:13 pm

Stanchart, RBS eye Malaysian Islamic subsidiaries

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Points of Essence:

  • Standard Chartered Bank has obtained the Central Bank’s licence to set up an Islamic subsidiary in Malaysia which will be established before the year end.
  • Meanwhile Royal Bank of Scotland plans to apply for a licence to set up the same establishment.

Mon Aug 18, 2008 8:01am EDT

KUALA LUMPUR (Reuters) – Standard Chartered Bank and Royal Bank of Scotland (RBS) plan to set up Islamic banking subsidiaries in Malaysia, local media reported on Monday.

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Written by Suapi Shaffaii

August 19, 2008 at 4:20 pm

Pakistan plans to issue first local currency Islamic bond next month

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Points of Essence:

  • Pakistan will issue rupee-dominated Islamic bond for its domestic market consumption in September.
  • The issuance will be handled by Standard Chartered Bank and Dubai Islamic Bank which would be less than Rs 20 billion than what the market had expected.
  • The Islamic bond will further stimulate the growth of the Islamic finance industry which shared 3.2% of the total banking system in Pakistan and only accounted for Rs 135 billion of assets.

Published: August 15, 2008, 23:58

Kuala Lumpur: Pakistan will issue its first local currency Sharia-compliant bond in September, a government official said yesterday, as the Muslim nation seeks to build its fledging Islamic finance industry.

Ashfaque Hassan Khan, special secretary at the Finance Ministry, said the issue size had not been determined although it would be “substantially less” than the Rs20 billion ($269.5 million) some bankers had earlier expected.

“We have already completed all the paperwork and we hope to be in the market sometime in Sep-tember,” Khan told Reuters by telephone. “This is the first time we will be going to the market with a rupee-denominated local sukuk.”

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Written by Suapi Shaffaii

August 16, 2008 at 2:24 am