StanChart Saadiq introduces new products for SMEs
Wednesday, 22 June 2011
FE Report
Standard Chartered Saadiq is introducing two new world class products -- Islamic Business Instalment Finance & Islamic Finance Against Property. This was announced at a press conference held at Standard Chartered Head Office in the city Tuesday. Business instalment finance is modelled under the concept of Goods Murabaha and Islamic Finance Against Property operates under Hire Purchase Shirkat-ul-Melk (Dimishing Musharaka) concept. This is the first step for Saadiq to introduce investment products under the umbrella of Small & Medium Enterprises (SMEs). At the press conference, Mr. Wasim Akhtar Saifi, Global Head of Islamic Banking, Consumer Banking, Standard Chartered Bank said "I am pleased that Saadiq is now offering SME products in Bangladesh; we look forward to introducing more products under Saadiq. At Standard Chartered, we are committed towards developing our major Islamic markets, including Bangladesh." Mr. Sandeep Bose, Regional Head of Consumer Banking, Bangladesh, Nepal & Sri Lanka, Standard Chartered Bank added "We are committed to bringing world class Shariah compliant products to our valued customers; serve their financial needs and provide them with satisfaction based on religious beliefs. This is a reflection of our commitment to our customers in Bangladesh." Mr. Hassan O Rashid, General Manager, SME Banking & Mr. Kamran Sunjoy Rahman, General Manager, Islamic Banking, Standard Chartered Bank and other senior officials of the bank also attended the press conference.
Standard Chartered Saadiq is introducing two new world class products -- Islamic Business Instalment Finance & Islamic Finance Against Property. This was announced at a press conference held at Standard Chartered Head Office in the city Tuesday. Business instalment finance is modelled under the concept of Goods Murabaha and Islamic Finance Against Property operates under Hire Purchase Shirkat-ul-Melk (Dimishing Musharaka) concept. This is the first step for Saadiq to introduce investment products under the umbrella of Small & Medium Enterprises (SMEs). At the press conference, Mr. Wasim Akhtar Saifi, Global Head of Islamic Banking, Consumer Banking, Standard Chartered Bank said "I am pleased that Saadiq is now offering SME products in Bangladesh; we look forward to introducing more products under Saadiq. At Standard Chartered, we are committed towards developing our major Islamic markets, including Bangladesh." Mr. Sandeep Bose, Regional Head of Consumer Banking, Bangladesh, Nepal & Sri Lanka, Standard Chartered Bank added "We are committed to bringing world class Shariah compliant products to our valued customers; serve their financial needs and provide them with satisfaction based on religious beliefs. This is a reflection of our commitment to our customers in Bangladesh." Mr. Hassan O Rashid, General Manager, SME Banking & Mr. Kamran Sunjoy Rahman, General Manager, Islamic Banking, Standard Chartered Bank and other senior officials of the bank also attended the press conference.