Standard Bank Shari’ah Banking has focused on product innovation during the awards period and has seen impressive growth across its African operations.
The bank grew assets by more than 160% and its corporate loan portfolio has now reached R8.9 million ($460,000). Corporate clients grew by 3%, while retail customers surged by 53%. The head of shari’ah banking at Standard Bank Group is Mohammed Ameen Hassen.
Innovations include the first shariah-compliant charge card in South Africa, in addition to an advanced lending solution allowing clients to access funding within just 48 hours of application.
The bank has also launched the Stanbic IBTC imaan fund in collaboration with its Nigerian subsidiary Stanbic IBTC.
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