USD 100 Million Islamic Financial Programme Established by Standard Chartered Saadiq

In cooperation with the Malaysian Halal Development Corporation, Standard Chartered's international Islamic banking network Saadiq has established a USD 100 million Islamic financial programme to serve small and medium-sized enterprises (SMEs), corporates and multinationals.

Why it Matters?

The programme’s intention is to spread the Halal ecosystem across Asia, Africa and the Middle East, with a focus on key Halal markets such as the United Arab Emirates (UAE), Saudi Arabia, Malaysia, Bahrain, Bangladesh and Pakistan. Khurram Hilal, Chief Executive Officer of Islamic Banking and Head of Group Islamic Product at Standard Chartered, noted that the Halal economy was forecast to see exponential growth.

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