WorldAsia CEO, Syed Tariq Ali said the Islamic Finance Industry was developing at a rapid pace and the banks in particular would offer more Islamic Financial services to its clients.
The comments came in view with the launch of Islamic banking window of Standard Chartered Bank, Saadiq, and the range of products offered by them, said a press release on Monday. Ali said the only reason an institution enters into a different mode of business is because of the forecasted returns and opportunities it sees in the mode of operation and its product offerings.
Saadiq is yet another example of a multi national bank entering the dedicated Islamic Banking sector. With Saadiq, Standard Chartered has now formally branded its Islamic Financing services.
WorldAsia is a group company of Islamic capital partners, which promoted the two conferences on Islamic Banking and Money Market held in 2005 and 2006; the State Bank of Pakistan was a prime supporter for these events. WorldAsia is also involved in seminars, summits, specialised training programmes, publications and executive capacity building.
Islamic Capital Partners' focuses on establishing new Islamic financial institutions, facilitating cross border Sharia' compliant investments between GCC and Pakistan, private equity advisory and mergers & acquisitions initiatives. It is also actively engaged in promoting knowledge exchange, awareness and training programmes in the Islamic finance industry.-PR
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