Standard Bank crowned Africa's Best Islamic Bank — again
'We're honoured to receive this prestigious recognition for the second year running. Being named Africa's Best Islamic Bank reaffirms our commitment to innovation and to delivering principled, Shari'ah-compliant solutions tailored to our clients' unique needs,' says Ameen Hassen, head of Shari'ah Banking at Standard Bank.
He says the award reflects the exceptional teamwork driving the bank's efforts to advance Islamic finance across the continent.
The Euromoney Islamic Finance Awards honour institutions that have made a significant impact by driving innovation and growth in Islamic banking and finance.
Standard Bank Shari'ah Banking has led several industry firsts, including:
The world's first Shari'ah-compliant Diners Club card;
SA's first fintech-enabled unsecured Shari'ah-compliant working capital solution through the Merchant Capital Shari'ah Advance; and
The first Shari'ah-compliant term facility in SA offered by a commercial bank.
Over the past five years, its assets have grown by 82%, outpacing the 79% growth in liabilities over the same period.
'We see Islamic finance as a powerful enabler of economic growth in Africa, especially in Sub-Saharan regions, which are home to 18% of the global Muslim population,' says Hassen.
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