Introducing Standard Chartered Saadiq Personal Finance, a world - class Shariah compliant solution for your financial needs

Sometimes, meeting your obligations requires some financial assistance. We understand that you also want your principles and beliefs honoured. Therefore, Standard Chartered has designed Saadiq Personal Finance, a product that is Shariah-compliant and does not deal in interest to respect your principles. Enjoy the benefits of world-class finance options that are carefully reviewed by a panel of distinguished Shariah scholars to ensure that they strictly follow the Shariah principles.

The financing procedure
Saadiq Personal Finance is based on the Tawaruq concept, which is a widely recognised Islamic finance tool. Our financing procedure is quick and straightforward, involving two independent transactions.

Transaction 1
Step 1: You approach us with a request to purchase metals.
Step 2: We sell the metals to you at a price that includes a fixedprofit margin, and you agree to pay the whole amount in fixed Equal Monthly Instalments (EMI).

Transaction 2
Step 1: We help you then sell the metals at a price to an international trader. The proceeds from the sale will be deposited into your Account.

Finance amounts
You can avail of finance amounts up to AED 250,000 to fulfill your requirements, at a competitive, pre-arranged profit rate.

Flexible payments
Enjoy convenient monthly instalments that will help you organise your financial commitments and make your payments easy to meet. We offer financial periods of up to 60 months for expatriates and 84 months for UAE nationals.

Additional finance
If needed, we can arrange additional finance up to the original amount, during your existing finance tenure, provided your payments have been regular.

Transferring existing finance
Do you already have a financial arrangement with another bank? No problem. We can transfer your existing facility to Standard Chartered Saadiq Personal Finance. Our sales representative will ensure that the process is smooth and hassle-free.

Islamic Credit Life Cover
Your finance amount is fully covered by Aman Insurance a Shariah-compliant insurance provider. In the unfortunate event of death, all outstanding payments will be waived completely, so that financial burdens are kept to a minimum.

Shariah Supervisory Committee
Standard Chartered's Saadiq products are supervised by the independent Shariah Supervisory Committee. The Committee regularly reviews as well as appraises the products and the transactions structured by Standard Chartered. The Committee currently comprises two of the world's most renowned and respected scholars in Islamic banking:

Dr. Abdul Sattar Abu Ghuddah
With a Ph.D. in Islamic Law from Al Azhar University, Cairo, Egypt, Dr. Sattar is currently a member of the Shariah Board of several Islamic institutions in various parts of the world.

Sheikh Nizam Yaqubi
With a Bachelor’s degree from McGill University, Canada, Sheikh Yaqubi currently holds highly respected positions on the Shariah Boards of many Islamic institutions worldwide.

* Saadiq Personal Finance is granted at the sole discretion of Standard Chartered Bank. In order to qualify you must be working for a Standard Chartered approved employer in the U.A.E. Terms and Conditions apply.