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| Overview |
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| Why Islamic Finance? |
Islamic banking is a rapidly growing
phenomenon in the global financial markets. Muslims have
always shielded away from conventional banking, as it
does not conform to their religious tenets.
There has always been a demand among Muslims for
financial products and services that conform to the
Shariah (Islamic law). Based on this demand, a number of
banks all over the world have started offering products
and services that are in compliance with Shariah. With
an estimated size of over USD 250 billion and a growth
rate of 15%, Islamic banking has now established itself
as a serious business segment in the eyes of financial
institutions, businesses, consumers and regulators.
Standard Chartered, with an aim to meet the unique needs
of its customer, has setup an Islamic Banking Division.
The bank is now offering tailor-made Shariah compliant
products to its customers.
Standard Chartered employs 38,000 people in 950
locations in more than 50 countries in the Asia Pacific
Region, South Asia, the Middle East, Africa, the United
Kingdom and the Americas. Standard Chartered is one of
the world’s most international banks, its employees
representing 80 nationalities. |
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| Why Standard
Chartered Bank Islamic? |
Standard Chartered is
the largest international bank operating in Pakistan.
With a presence of over 150 years in this industry, the
bank is able to fully leverage its capabilities and
product expertise to provide tailor-made solutions for
its customers.
Standard Chartered realizes that a segment of their
customers wanted products that were shariah compliant,
and by introducing these Islamic financing options, they
are fulfilling their promise of being responsive to
their customer needs. These products have been developed
under the guidance of an independent Shariah Supervisory
Committee. Members of the committee are:
Dr. Abdul Sattar Abu Ghuddah
Sheikh Nizam Yaquby |
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