Best Islamic bank 2025: Standard Chartered Saadiq
Standard Chartered Saadiq has distinguished itself as the best Islamic bank in Bangladesh through its remarkable growth, strategic digital initiatives, comprehensive product offerings, and innovative financial solutions rooted in Islamic principles.
The bank has demonstrated a strong performance in both the corporate and retail segments. In the corporate realm, Standard Chartered Saadiq more than doubled its investment banking operations, with substantial growth also in retail segment revenue.
This considerable growth is further highlighted by the significant rise in Islamic banking retail products, which now represent a significant portion of Standard Chartered Saadiq Bangladesh retail’s overall sales. This trend is particularly evident with 40% of new-to-bank customers opting for Islamic banking products, showcasing a robust demand and growing market acceptance.
In the field of digital banking, while no new products were introduced in 2024, Standard Chartered Saadiq maintained solid digital performance metrics. Over 70.2% of clients engaged with the bank’s digital channels, emphasising the institution’s strong digital foundation. The bank is forward-looking, planning to enhance its service by integrating digital onboarding for Islamic corporate and investment banking clients in 2025, demonstrating its commitment to innovation and customer convenience.
Product innovation remains a cornerstone of Standard Chartered Saadiq’s approach. It offers a holistic suite of Shariah-compliant products in retail banking, which includes deposit products, credit cards, auto finance, mortgage finance, and business banking finance. This comprehensive range addresses the varied needs of their customers, further solidifying their position in the market.
Undoubtedly, one of the bank’s milestones in 2024 was the significant deal with Akij Food and Beverage Limited. This was a pioneering transaction involving multilateral risk participation in Islamic financing, a first in Bangladesh. This deal not only underscores Standard Chartered Saadiq’s capabilities in structuring complex Islamic financial solutions but also reflects its pivotal role in fuelling industrial growth in the country.
Through these multifaceted initiatives and achievements, Standard Chartered Saadiq Bangladesh has clearly established itself as a leader in the Islamic banking sector, optimising growth opportunities while adhering to ethical financial practices.
