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British-based bank: SCB runs second largest Islamic window in Pakistan

KARACHI: As many as 14 conventional banks in Pakistan offer Shariah-compliant banking services through separate Islamic windows. Although many of these 14 banks are foreign ones, Standard Chartered Bank Pakistan happens to be the only banking institution with a western pedigree and a truly global presence across five continents.

And yet, it runs the largest Islamic banking window in Pakistan, only after Bank Alfalah, with an 8% share in revenues, 8% share in advances and 4% share in deposits of the entire Islamic banking industry as of December 2012.

“We believe that the kind of expertise and Shariah scholars we have for Islamic banking is far better than other conventional banks,” said Azhar Aslam, who heads Islamic banking at Standard Chartered Bank Pakistan, while speaking to The Express Tribune in a recent interview.

Read more » The Express Tribune
http://tribune.com.pk/story/582899/british-based-bank-scb-runs-second-largest-islamic-window-in-pakistan/