Dubai: Standard Chartered Saadiq, the Islamic banking division of Standard Chartered Bank, opened its first dedicated Islamic Banking Centre in the UAE at the Al Khalidiya Branch in Abu Dhabi.

The launch of Saadiq Islamic Banking Centre comes in response to the increasing demand for Islamic banking service, the bank said.

“The launch of our Saadiq Islamic Banking Centre is in line with our commitment to enhance our products and services and bridge the service and distribution gap between Islamic and conventional banking. We have a dedicated and qualified Islamic Banking team who are trained to provide our clients with world-class Islamic financial expertise and advise them on the best products and services that match their needs,” Wasim Saifi, Global Head Islamic Retail Clients & CEO Standard Chartered Saadiq Malaysia.

Standard Chartered has the largest retail distribution network among international banks operating in the UAE with 11 branches, five Electronic Banking Units and more than 90 ATMs and Cash Deposit Machines spread across the country. Standard Chartered Saadiq is the only international bank offering Sharia-compliant retail banking services in the UAE.

“The Saadiq Centre boosts our capability to meet the strong demand for Islamic Banking in the capital of the UAE. We have timed this launch at the onset of Ramadan to enable our customers to manage their finances and wealth in a Sharia-compliant manner during the holy month of Ramadan,” said Sultan Ali Haider, Head of Islamic Retail Clients Middle East, Standard Chartered.