Standard Chartered holds Saadiq Virtual Expo 2020

Standard Chartered Saadiq, the global bank's Islamic banking division, organised a two-day "Saadiq Virtual Expo 2020" recently introducing clients and stakeholders to its Shariah-compliant banking products and digital solutions.

In a statement yesterday the bank said to have come up with a host of offers with partners featuring automobiles and mortgage exclusively for the fair participants.

A webinar was also organised, participated by the bank's Group Islamic Banking team and people who are said to have contributed to the development of the Islamic banking industry globally for many years.

They are said to have discussed the basics of Islamic banking solutions, its potentials in Bangladesh and the global market and Standard Chartered Saadiq's role in shaping the industry with innovations.

"Our clients require increasingly sophisticated banking solutions that are in-tune with their way of life," said Sabbir Ahmed, managing director and head of retail banking at Standard Chartered Bangladesh.

"Through this event, we hope to have showcased all that Islamic banking has to offer."

"Islamic banking in Bangladesh is approaching an inflection point, in tandem with our economy," said Enamul Huque, managing director and head of corporate, commercial and institutional banking client coverage for Bangladesh.

"By leveraging its true potential through products such as Sukuk, we can add further impetus to our nation's journey of prosperity and achieve our growth aspirations."

"Our Shariah scholars are guiding us continually regarding product design and compliance of Islamic financing principals."

Standard Chartered Saadiq has completed 15 years of operation in Bangladesh in 2020, according to the statement. It informed of offering retail banking, Islamic cash management, working capital and financing solutions for corporate clients.

It said to have "introduced a number of firsts" such as a Shariah-compliant Islamic credit card in 2007 and a Sukuk market transaction arrangement in 2019.

The bank also said to have won an Asset Triple A Islamic Finance Award, The Banker Islamic Bank of the Year and Global Finance Best Islamic Financial Institution and Best Islamic Digital Bank.

The participants are said to include Mohammad Ali Allawala, global head of retail Islamic banking (Saadiq); Ahsan Ali, managing director and head of Islamic organization (Saadiq); Khurram Hilal, managing director and head of group islamic products (Saadiq); Mufti Muhammad Abdul Mubeen, head of Shariah department for group Islamic banking and Shariah board member, and Lutful Habib, executive director and general manager priority banking and retail distribution.

Asif Rahman, director for Islamic retail banking Bangladesh, moderated the webinar.