StanChart signs $20m musharaka deal with Incepta Pharma

Abdul Muktadir, Managing Director, Incepta Pharmaceuticals Ltd and Afaq Khan, CEO, Islamic Banking, Standard Chartered Bank exchange documents during a signing ceremony between the two organizations recently. Abrar A Anwar, MD, OCC and other senior officials of both the organizations are seen in the picture.

FE Report

Incepta Pharmaceuticals Ltd becomes the 1st Wholesale Banking Saadiq client for Standard Chartered Bangladesh.

Abdul Muktadir, Managing Director, Incepta Phramaceuticals Ltd, Afaq Khan, CEO Islamic Banking of Standard Chartered Bank, Abrar A Anwar, Managing Director, Head of Origination and Client Coverage, Co-Head Wholesale Banking, Bangladesh and other senior officials were present to mark the occasion.

Standard Chartered Bank has provided a US $ 20 million Musharaka Islamic Finance facility as term finance for 5 years under it's Saadiq platform to Incepta Pharma for their expansion projects.

This facility was solely provided by Standard Chartered Bank - Dubai Islamic Financial Centre, UAE. Through this facility, Standard Chartered bank reinstates its commitment to remain as a partner of growth with Incepta Pharma and starts its journey towards becoming a key Islamic Banking service provider for the country.