There has always been a demand among Muslims for financial products and services that conform to the Shariah (Islamic law). Based on this demand, a number of banks all over the world have started offering products and services that are in compliance with Shariah. With an estimated size of over USD 250 billion and a growth rate of 15%, Islamic banking has now established itself as a serious business segment in the eyes of financial institutions, businesses, consumers and regulators.
Standard Chartered, with an aim to meet the unique needs of its customer, has setup an Islamic Banking Division. The bank is now offering tailor-made Shariah compliant products to its customers.
Standard Chartered employs 38,000 people in 950 locations in more than 50 countries in the Asia Pacific Region, South Asia, the Middle East, Africa, the United Kingdom and the Americas. Standard Chartered is one of the world’s most international banks, its employees representing 80 nationalities.