Standard Chartered Bank Bangladesh on Thursday announced Islamic Banking offerings for its Wholesale Banking clients under Saadiq Branding. This will further strengthen its Wholesale Banking client value propositions, says a press release. This latest strategy is underpinned by the market demand and banks commitment to grow in the market and reinforce its brand promise of ‘Here for good’.

The launching of Saadiq for wholesale banking clients was inaugurated by Afaq Khan, chief executive officer- Islamic Banking of Standard Chartered and Abrar Anwar, managing director and head of origination and client coverage of Standard Chartered Bangladesh. During the launch Abrar Anwar said, “Launching Saadiq for Wholesale Banking Clients is the testimony to that. At Standard Chartered, we believe we are here for progress, and through efforts like this, we want to show that we are here for good.”

There is an accelerated demand of Islamic Banking products in the market. To meet the client requirements of this segment, Standard Chartered Bank had started its Islamic Banking operation in Bangladesh in 2004 with consumer banking products under the Bank’s group branding Saadiq. Now the bank would like to span its offerings to meet requirements of the corporate clientele. Standard Chartered is extremely delighted to bring the Islamic Banking propositions to the market for its valued corporate clients.

The product propositions entail the core comprehensive suite of cash management, financing, trade and related finance products required for corporate houses to fulfil their banking requirements in Shariah compliant way.

To launch the products the bank’s paramount focus is to ensure the Shariah governance as per guidance provided by the Group Shariah Supervisory Committee and Bangladesh Bank, at the same time to bring in state of the art solutions with huge investment in infrastructure, technology and resources.

The Daily Independent/Bangladesh/ 4th Aug 2012