Stanchart Private Bank to offer Islamic financial solutions

Singapore-based Standard Chartered Private Bank will start offering a comprehensive suite of Islamic financial solutions for its clients.

The solutions range from fiduciary deposits, property financing, equities and discretionary services, mutual funds (including Exchange-Traded Funds), Islamic bonds (Sukuks), to third-party structured products.

These solutions will become available to clients by mid-June this year.

"There are growing expectations among our clients for Shariah-compliant private banking solutions,"said Shayne Nelson, Standard Chartered Private Bank Chief Executive Officer and Global Head of High Value ClientCoverage.

"Our Islamic financial solutions launch offers a good combination of private banking solutions, international capabilities and Shariah compliance," he added.

"As a leading international bank with Islamic banking expertise, we are well positioned to help clients meet their wealth management needs that conform to their religious beliefs while preserving commercial benefits such as access to an international network and high quality advisory services from a trusted partner," he said.

The Private Bank's Islamic financial solutions will be delivered in collaboration with Standard Chartered Saadiq, the bank's Islamic banking arm, which has over 18 years of experience in Islamic banking and finance, and has onshore presence in six markets.

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