MALAYSIA - BANKING - Stanchart to make KL its Islamic banking hub

www.btimes.com.my - UPBEAT MOOD: Lender seeks to capitalise on Malaysia’s long-standing experience and expertise in the sector

MALAYSIA'S efforts to become an international Islamic finance centre have received a boost as the country's oldest bank, Standard Chartered Bank, (StanChart) is making Kuala Lumpur its global hub for Islamic consumer banking.

The bank's new global hub will be led by Wasim Saifi, the new chief executive officer (CEO) of Standard Chartered Saadiq Bhd (Saadiq Malaysia). Wasim is also StanChart global head of Islamic consumer banking.  (source)

THAILAND - OPINION - Closing the gap: the next big step for Islamic banking

www.nationmultimedia.com - Fifteen years ago, Muslims wishing to take out a mortgage, use a credit card or deposit money into a current account would have been hard pushed to do so and stay compliant with Shariah law.
With few Islamic banks around - and a limited range of Shariah products - banking as a Muslim invariably involved compromising either your faith or your financial needs.
Today, in many markets, such compromise is no longer necessary. Islamic banking is becoming a part of the mainstream, widely available across financial products and geographies. In 2012, Islamic banking assets are expected to reach US$1.1 trillion (Bt34.7 trillion) globally, up 33 per cent on 2010, according to Ernst & Young. Within just a few years, Islamic banking has transformed into a global industry.
There are three major drivers behind this extraordinary journey - three reasons why I believe Islamic banking will keep on growing far into the next decade. (source)

SINGAPORE - Standard Chartered’s Wasim Sees Singapore Islamic Market Growth

Wasim Saifi, Singapore-based global head of Islamic and consumer banking at Standard Chartered Plc (STAN), comments on the city-state’s development of Islamic finance in an e-mailed response to questions.

Singapore will host the second World Islamic Banking Conference (Asia Summit) from June 8 to June 9. (full story)