Observer Report
Karachi
Standard Chartered Saadiq Pakistan, is the only international bank in Pakistan that offers Halal Cross border trade solutions to its clients. With its strong network, Standard Chartered offers world class ‘Halal360’ solutions to support local businesses thrive within the global halal eco-system.
Announced through a virtual client webinar, “HALAL360: Connecting halal businesses with Islamic Finance”, which was jointly hosted by Standard Chartered Malaysia and Standard Chartered Pakistan, the Bank aims at promoting Bilateral trade and exploring investment opportunities between the two Muslim countries of Pakistan and Malaysia.
The panellists who shared their insights during the webinar were: HairolAriffein, Chief Executive Officer, Halal Development Corporation, Malaysia Asad Sajjad, Chief Executive Officer, Halal Development Council, Pakistan
Suhaimi Abdul Hamid, Chief Executive Officer, Standard Chartered Saadiq Malaysia Azhar Aslam, Head of Islamic Banking, Standard Chartered Saadiq Pakistan
Worldwide, the global demand for halal products will continue to increase as the halal market has expanded from food and beverage products to cosmetics, pharmaceuticals, modest fashion and halal tourism. It is projected that the global halal industry is set to grow to USD3.1trillion by 2023 presenting ample opportunities for Pakistani companies to be part of this ever-growing global market.
Commenting on the opportunity, Rehan Shaikh, CEO Standard Chartered Pakistan, said: “To achieve the spirit of a holistic and sustainable halal economy, it is essential to ensure that Shariah compliance prevails not only in the financing but also in the entire product and supply chain ecosystem of the participating organisations. This creates an appeal and pull for these businesses, which is universal in nature. Standard Chartered, in line with its brand promise of being here for our clients, has the global network to nurture this ecosystem and provide our clients with attractive shariah compliant solutions.”
Standard Chartered Saadiq is the only international Islamic bank with a network spanning across Asia, Africa and Middle East that provides an unparallel network advantage to clients seeking access to new markets through Sharia compliant product offerings.
