Tagged: Standard Chartered Saadiq

Islamic bonds set for new heights

Islamic bonds set for new heights

<p>The global sukuk market is poised for a record-breaking year, according to Standard Chartered Saadiq's chief executive officer Wasim Saufi. Standard Chartered expects demand for Islamic bonds to help push sales to levels unseen before this year although Islamic bond sales fell by as much as 11 per cent for the first six months of the year. Wasim said several issuances are in the pipeline, including a few being evaluated for dollar sukuk to be issued by Malaysian companies. One that is in the pipeline is Khazanah Nasional&rsquo;s sale of US$1 billion of convertible Islamic bonds. Ernst &amp; Young LLP in a December 2012 report predicted that the global demand for sukuk will reach US$950 billion by 2017. According to Bloomberg-compiled data, global sukuk sales hit US$18.8 billion in the first half of the year.</p>
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<p><a href="http://www.btimes.com.my/Current_News/BTIMES/articles/20130811230531/Article/index_html" title="http://www.btimes.com.my/Current_News/BTIMES/articles/20130811230531/Article/index_html">http://www.btimes.com.my/Current_News/BTIMES/articles/20130811230531/Art…</a></p>
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Islamic bonds set for new heights

Islamic bonds set for new heights

<p>The global sukuk market is poised for a record-breaking year, according to Standard Chartered Saadiq's chief executive officer Wasim Saufi. Standard Chartered expects demand for Islamic bonds to help push sales to levels unseen before this year although Islamic bond sales fell by as much as 11 per cent for the first six months of the year. Wasim said several issuances are in the pipeline, including a few being evaluated for dollar sukuk to be issued by Malaysian companies. One that is in the pipeline is Khazanah Nasional&rsquo;s sale of US$1 billion of convertible Islamic bonds. Ernst &amp; Young LLP in a December 2012 report predicted that the global demand for sukuk will reach US$950 billion by 2017. According to Bloomberg-compiled data, global sukuk sales hit US$18.8 billion in the first half of the year.</p>
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<div>Source:&nbsp;</div>
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<p><a href="http://www.btimes.com.my/Current_News/BTIMES/articles/20130811230531/Article/index_html" title="http://www.btimes.com.my/Current_News/BTIMES/articles/20130811230531/Article/index_html">http://www.btimes.com.my/Current_News/BTIMES/articles/20130811230531/Art…</a></p>
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‘Convergence in global syariah interpretation’

‘Convergence in global syariah interpretation’

Differences seen in interpretation of syariah compliance among various Islamic finance markets are disappearing as there has been inter-market convergence of respective interpretations on a global scale moving forward. According to the chief executive …

Standard Chartered launches first Saadiq branch in S’wak

Standard Chartered launches first Saadiq branch in S’wak

Standard Chartered Saadiq Bhd (Saadiq), a wholly-owned Islamic bank subsidiary of Standard Chartered Bank Malaysia, launched its first branch in the state Sarawak. Saadiq chief executive officer (CEO) Wasim Saifi opened the branch located in Kuching, which was witnessed by Standard Chartered Malaysia consumer banking country head Sonia Wedrychowicz and government officials as well as the bank’s customers, partners and staff. Saadiq stated that the new branch opened seven days a week, extending its operations to weekends in order to improve customer access to the bank’s facilities and services.

Banks ‘need to attract GCC wealth’

Banks ‘need to attract GCC wealth’

The next area Islamic finance sets as a goal to develop is wealth management. So far, Muslim high net worth individuals have very limited possibilities in terms of availability of suitable products and services. According to consumer banking global hea…

Islamic banking shines

Islamic banking shines

According to Standard Chartered Saadiq, Islamic banking assets in the UAE are forseen to grow to 20 % of the total banking sector in 2012 from an estimated 18 % this year.
The bank anticipates Islamic assets to comprise 38 per cent of total consumer ba…