CIMB Islamic leads landmark RM1bil CCM transaction with Stanchart Saadiq

Left to right: Sylvia Wong, Head, Financial Markets Corporate Sales ASEAN, Standard Chartered; Mohd Suhaimi Abdul Hamid, Chief Executive Officer of Standard Chartered Saadiq Malaysia; Adnan Zaylani Mohamad Zahid, Assistant Governor of Bank Negara Malaysia; Ahmad Shahriman Mohd Shariff, Chief Executive Officer of CIMB Islamic Bank Bhd; Chu Kok Wei, Group Head, Treasury & Markets of CIMB Group at the signing ceremony.

KUALA LUMPUR: CIMB Islamic Bank Bhd has entered into a RM1.0 billion landmark sustainable collateralised commodity Murabahah (CCM) transaction with Standard Chartered Saadiq Malaysia (Stanchart Saadiq).

In a joint statement today, the banks said all transaction proceeds of the CCM will be earmarked to eligible shariah-compliant assets or projects that fall within the boundaries of CIMB Group’s sustainable development goals (SDGs) bond and sukuk framework, enhancing its market leadership position in sustainable finance as well as Islamic treasury and capital markets.