Standard Chartered Bank Subsidiary Standard Chartered Securities Granted Approval to Offer Shariah-Compliant Products in Brunei

Standard Chartered Securities, a subsidiary of Standard Chartered Bank, has been granted approval to conduct Islamic investment business via an Islamic window in Brunei. It is the first capital market service licence holder in the country to have obtained this approval from Autoriti Monetari Brunei Darussalam (AMBD) and the Syariah Financial Supervisory Board (SFSB).

Why it Matters?

Chief Executive Officer of Standard Chartered Bank, Pengiran Aki Ismasufian bin Pengiran Haji Ibrahim (Pg Aki), stated that this gives all clients, potential clients and the community more options and choices. Pg Aki added that this is another step forward towards Brunei establishing itself as an Islamic financial hub by the year 2035 and that the setting up of this Islam...