Standard Chartered Bank launches Islamic Saving Accounts for its Corporate and Institutional clients

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Standard Chartered Bank launches Islamic Saving Accounts for its Corporate and Institutional clients

Dubai: 18 December 2016 - Standard Chartered Bank today revealed the launch of its Islamic Saving Accounts for its Company and Institutional clients in the UAE. The announcement was made at an event hosted by the Bank earlier this week for senior professionals from major business entities and financial institutions.

Held under the title of "Digitisation and Innovation Trends" Julian Wynter, CEO Standard Chartered UAE, supplied the welcome speech adhered to by discussion of shields to the clients having registered for saving accounts, by Motasim Iqbal, Regional Head of Deal Banking MENA.

Developed to meet clients' day to day banking demands while simultaneously delivering revenues in accordance with Shariah standards, the launch of Saadiq Conserving Accounts is available in response to the boosting demand among Bank's clients for Islamic Banking Providers. Standard Chartered Saadiq uses a wide range of Islamic Banking remedies which are assessed and approved by world-renowned Shariah scholars.

Commenting about the news, Julian Wynter, Chief Executive Officer Requirement Chartered UAE said: " Throughout our five decade journey in the UAE, we have always strived to leverage our extensive global network and our capabilities to ensure our customer's economic requirements are catered to in an effective and smooth way. The new Saadiq Interest-bearing accounts not just provides returns in line with Shariah standards however additionally brings along an aspect of assurance in regards to returns that is extremely important to modern day treasurers and financing professionals".

While Transaction Banking plays a pivotal function in terms of sustaining services with their capital cycle needs, it is very important that working funding cycle services develop with the ever before expanding requirements of modern ere businesses.

On his part, Rehan Shaikh, CEO Requirement Chartered Saadiq stated "Standard Chartered Saadiq is the only worldwide bank offering Shariah-compliant economic remedies across all businesses from an Islamic retail arm, in addition to monetary markets, financial obligation resources markets and company banking. The launch of our brand-new Saadiq Savings Account is a statement of our dedication to use products which directly address our customer requirements and aid contribute to the development of the Islamic banking area. Saadiq has pioneered multiple market leading Islamic remedies over the last decade and continuouslies play a leading role in the industry."

The occasion, generally, provided a tactical platform for a pick group of clients to exchange suggestions and talk about ideal technique in the area of item innovation, digitisation and fintech. The session was participated in by a variety of treasury and finance professionals.

It was an optimal platform to raise understanding about the calculated importance of digitisation, innovation, current trends and just how these might form both corporate businesses and banking service providers and can be found in line with Conventional Chartered's strategy of thought management with the aim of facilitating new market trends".