gulfnews : Standard Chartered to offer Islamic financial products to private clients

Standard Chartered Plc will begin offering Islamic financial products to its private-banking clients to boost its share of a fast-growing market.
The products, which comply with Islam’s ban on interest, include deposit accounts, property financing, equities, Islamic bonds or sukuk and mutual funds, the London-based lender said in a statement before a news conference in Dubai today.
Standard Chartered’s five-year-old private-banking business manages more than $50 billion (Dh183.65 billion) in assets and reported a 21 per cent rise in revenue in 2011 to more than $500 million, the bank said.

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