standard chartered moves into shariah space

Added 1st November 2012

Standard Chartered is expanding its Shariah banking operations in the United Arab Emirates and Bahrain, just a few weeks after HSBC announced it would be pulling out of the region.

standard chartered moves into shariah space

Responding to media speculation, a spokesperson confirmed there had been a “growing demand for Shariah-compliant banking services” across its key Islamic banking markets.

The spokesperson added that Standard Chartered had begun to offer Shariah-compliant financing to small and medium-sized companies in Bahrain and that it is “developing our businesses in the UAE, both in the retail and commercial spheres”.

In early October, HSBC Holdings said it is to cease selling Shariah-compliant retail products in the UK, UEA, Bahrain, Bangladesh, Singapore and Mauritius – although it said it would continue to handle wholesale Islamic products in those countries.
 

Visitor's Comments Add your comment

Add Your Comment

We won't publish your address

About Author

International Adviser is aimed at global intermediaries who advise their HNW clients on International fund, life and banking products and tax efficient solutions to their cross-border needs

Features

 Mike Webb on reviving Rathbones’ unit trust business post-Brexit

Mike Webb on reviving Rathbones’ unit trust business...

Mike Webb talks about his mission to revitalise Rathbones’ unit trust business and the impact of the UK’s decision to leave the European Union

Analysis

Profiles

Directories

Ashburton International
Ashburton International

Ashburton Investments is a new generation investment...

Tweets

Events

IA International Portfolio Bond Forum 2017
IA International Retirement Planning Forum Dubai 2017
IA International Retirement Planning Forum Dubai 2017

Thursday 15 March,
Shangri-La Hotel, Dubai

Sponsored Content

Investment Strategy

OTHER STORIES FROM LAST WORD...