KUCHING: Standard Chartered Saadiq Berhad is celebrating its 10th year anniversary in Malaysia, showcasing the continued success of the deep relationship between the nation and the Bank.
Standard Chartered became the first international bank in Malaysia to offer Islamic banking products in 1993, and Standard Chartered Saadiq Berhad was incorporated in 2008 as a full-fledged Islamic banking subsidiary.
Since then, the Saadiq franchise has grown from strength to strength, launching several first-to-market Islamic products such as the Commodity Murabahah Programme, Profit Rate Swap, Cross Currency Swap, Forward Rate Agreement, Islamic Trade and Supply Chain proposition.
“Standard Chartered Saadiq offers global Islamic banking across Asia, Africa, and the Middle East. We serve retail, commercial, and corporate clients by leveraging our footprint, product expertise, and market knowledge. Our world-class digital banking capabilities ensures that Islamic banking clients gets the best services anywhere in the world,” said Ali Allawala, chief executive officer of Standard Chartered Saadiq.
Saadiq Berhad is also one of nine Islamic banks to form Bank Negara’s Community of Practitioners for Value-based Intermediation (VBI).
VBI is Bank Negara’s pioneering sustainable financing initiative aimed at generating positive impact to the economy, community and environment without compromising returns to shareholders.
“We are driven to ensure that not only do we comply Shariah requirements, but also achieve the intended outcomes of Shariah for the good of society,” Ali said.
“We are not just Here for good, we are here to be a force of good as well,” he added.
Ali was speaking at Saadiq’s 10th Anniversary Gala Dinner at The Duchess, Kuala Lumpur.
Not only that, the recent wins by Standard Chartered Saadiq at The Asset Triple A Islamic Finance Awards showcased the extensive cross-border global network that Standard Chartered possesses.
Saadiq franchise swept 18 awards in total, taking its awards tally to 32 since the beginning of 2018.
“The awards are a recognition of our ability of to provide the best Shariah-Compliant products to our clients. It is encouraging that our wins are as diverse and extensive as our global footprint, and this is a testimony to our strong franchise,” Ali said.
Among the wins Standard Chartered Saadiq were awarded are “Best Islamic Bank for Digital Innovation” and “Best Islamic Digital Banking Product”.
Digital innovation and banking are at the forefront for Standard Chartered, and the launch of its state-of-art mobile application for selling Takaful (insurance) products takes digitisation to new heights, onboarding clients in 15 minutes using only a tablet and making the process simpler, faster and better.
Saadiq also received recognition for deals it has secured. It also won Sukuk Adviser of the Year both globally and in the United Arab Emirates, as well as Best Investment Bank in the Middle East.
Source: Borneo Post Online