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Standard Chartered Opens Access to Islamic Banking via New Shariah Compliant Version of Straight2Bank

Afaq Khan, CEO of Standard Chartered Saadiq

Afaq Khan, CEO of Standard Chartered Saadiq

12 December 2012, UAE – Standard Chartered Bank has announced the launch of an Islamic version of its award-winning online banking platform, Straight2Bank. The enhanced platform expands client access to the Bank’s Islamic products by providing its growing Islamic customer base a secure online portal that is compliant with Shariah laws.

The existing Straight2Bank platform was enhanced to meet the needs of the Bank’s Islamic clients, presenting a convenient, branchless access channel to cash management, trade, securities services and reporting. The introduction of a Shariah compliant Straight2Bank will improve operating efficiency for the Bank’s Islamic clients by enabling them to manage their cash and trade portfolios with the Bank electronically and instantaneously.

Afaq Khan, CEO of Standard Chartered Saadiq, the Bank’s Global Islamic Banking business, commented: “We have observed growing client demand for Shariah-compliant banking services across our key markets. We are confident that the launch of this platform will serve to reaffirm our commitment to our clients in line with their needs and aspirations.”

Gautam Jain, Global Head of Client Access, Transaction Banking, added: “This development is testament of our continued focus on our client centric strategy. Our Saadiq clients can now experience greater efficiency and connectivity on Islamic banking services via Straight2bank.”

Shariah compliant Straight2Bank will be available to customers across all segments, including SMEs, in the United Arab Emirates, Bangladesh, Bahrain, Pakistan and Malaysia.

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