Standard Chartered launches credit card installment plan

September 21, 2014 Off By Web Desk

KARACHI: Saadiq, Standard Chartered’s Islamic Banking division, has enhanced its product suite by introducing travel packages and products through the Saadiq Installment Plan on the Saadiq Credit Card – the only Shariah compliant credit card available nationwide.

Clients can now enjoy payback in easy instalments of up to 12 months, with no processing fees or extra charges. They can avail these facilities on air tickets, holiday packages, Umrah packages and large range of home appliances and electronics, including home furnishing products from Habitt and Interwood stores.

To introduce the installment plan to the Saadiq suite, Ali Allahwala, Head, Islamic Banking – Retail Clients, commented, “Developing Islamic Banking products based on customer needs is a key focus area of the Bank. Our comprehensive range of Islamic banking products and services are innovative and unique in the country. By further catering to the Islamic banking market, Standard Chartered Pakistan is able to strengthen its position as the bank of choice for clients.”

The Saadiq division comprises a team of qualified professionals who design and structure Islamic financial solutions and ensure that they are in line with Shariah principles.

All Saadiq products are approved by an independent Shariah Supervisory Committee comprising respected and qualified scholars of international repute. Its operations are reviewed and appraised by a dedicated Shariah Advisor who provides guidance on Shariah related matters. These products aim to provide clients with a convenient, effective and rewarding banking experience in line with their beliefs.

Standard Chartered was the first international bank in Pakistan to receive an Islamic banking license and open Islamic banking branches across the country. Clients can now avail Islamic facilities from all 116 branches spread out of which 10 branches are solely dedicated to Islamic Banking.

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