Words of Wisdom - the Editor

Peace.
Got busy with a new project. So couldn’t add more news. Although I came across a fine article by a brother on the history and future of Islamic Banking. I was surprised to know that Islamic banking had beginnings in 1975. Wow. That’s almost as early as my birth. And I guess if there are enough like minded people any idea is bound to grow. I too used to wonder if I can invest without plunging into interest based transactions.

UK I noticed is taking some fine initiatives to promote Shariah Finance. Also came across a western brother or atleast who calls Muslims his brothers and sisters but laughs cynically at the DOW Islamic index as 'bending backwards' to accommodate those guys who have four wives and cut of peoples hands. O well some people just don't get it, do they?

Wednesday, November 5, 2008

StanChart to launch Islamic banking soon

Standard Chartered Bank is set to launch Islamic banking services in Bahrain by the end of the year. 
The initiative will herald a new era of Islamic banking products and services, including the launch of Islamic Credit Cards, a top official at the bank said.

Jonathan Morris, the CEO of Standard Chartered Bahrain, in his first interview since his arrival in the Kingdom, said his bank would introduce the Islamic banking services in Bahrain under the bank's global brand name for Islamic products, namely Standard Chartered Saadiq.

"We are keen to launch Islamic banking products by the end of the year as a window service," he said.

Standard Chartered, being one of the oldest banks in Bahrain, expects strong demand for Islamic banking services in the Kingdom and beyond. 
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