Standard Chartered Saadiq inaugurates its first Islamic Banking Centre in the UAE
The Bank aims to bridge the service and distribution gap between Islamic and Conventional Banking
Dubai, United Arab Emirates, 06 July 2014 – Coinciding with the beginning of the Holy Month of Ramadan, Standard Chartered Saadiq, the Islamic Banking division of Standard Chartered Bank, inaugurated its first dedicated Islamic Banking Center in the UAE at the Al Khalidiya Branch in Abu Dhabi. Present at the ceremony was Wasim Akhtar Saifi, Global Head Islamic Retail Clients and CEO Standard Chartered Saadiq, Malaysia, along with a host of senior representatives of the bank and some of its Islamic Banking cutomers. The center will offer clients the whole range of Shariah-compliant products and services.
The launch of Saadiq Islamic Banking Center comes in response to the increasing demand among Bank’s customers for Islamic Banking Services. Standard Chartered Saadiq offers a wide range of Islamic Banking solutions which are reviewed and approved by world-renowned Shariah scholars.
Wasim Saifi, Global Head Islamic Retail Clients & CEO Standard Chartered Saadiq Malaysia, Standard Chartered, said:
“Standard Chartered Saadiq is the only international bank offering Shariah-compliant retail banking services in the UAE. The launch of our Saadiq Islamic Banking Center is in line with our commitment to enhance our products and services and bridge the service and distribution gap between Islamic and Conventional Banking. We have a dedicated and qualified Islamic Banking team who are trained to provide our clients with world-class Islamic financial expertise and advise them on the best products and services that match their needs.”
Sultan Ali Haider, Head of Islamic Retail Clients Middle East, Standard Chartered, said:
“Standard Chartered is delighted to inaugurate its Islamic Banking Center in Abu Dhabi, which is a manifestation of our commitment to our clients, especially UAE Nationals and Expatriate Arabs, who are looking for world-class Shariah-compliant retail banking services. The Saadiq Center boosts our capability to meet the strong demand for Islamic Banking in the capital of the UAE. We have timed this launch at the onset of Ramadan to enable our customers to manage their finances and wealth in a Shariah compliant manner during the holy month of Ramadan.”
Standard Chartered Saadiq is the winner of Euromoney’s “Best International Islamic Bank” award for 2013. Since 2006, Standard Chartered Saadiq has won more than 100 industry awards in recognition of the market leadership position of the business.
Standard Chartered has the largest retail distribution network among international banks operating in the UAE with 11 branches, five Electronic Banking Units and more than 90 ATMs and Cash Deposit Machines spread across the country.