Asia House Middle East Programme: Islamic Banking with CEO of Standard Chartered Saadiq

Rehan M. Shaikh, the Chief Executive Officer of Standard Chartered Saadiq, will give a briefing on the rapidly growing Islamic Finance sector to Asia House corporate members on 7 March.

Rehan is responsible for driving the growth of Standard Chartered Saadiq – the Global Islamic Banking business of Standard Chartered Bank – across its core markets both in the Middle East and elsewhere such as Malaysia, Indonesia, Pakistan and Bangladesh.

Rehan will talk more specifically on Islamic Finance’s application in infrastructure projects. Islamic Finance could become an important resource to meet the large and growing investment needs in emerging markets and developing economies. Sukuk (Islamic Bonds) present an opportunity for investors to earn returns as well as contribute to the infrastructure development of a country. Currently Malaysia issue’s more than half of existing Susuk bonds, however their use is increasing across South East Asia, the Middle East and North Africa. The talk will also explore opportunities for the application of this financing system within China’s Belt and Road initiative.

According to the ICD-Thomson Reuters Islamic Finance Development Report 2017, the Islamic Finance industry is predicted to reach US$ 3.8 trillion by 2022, with Islamic banking expected to grow 1.5 times between 2016 and 2022. This growth is predicted despite the dramatic decrease in oil revenues in some of the industry’s key markets. Given this growth, Islamic finance could serve as a strategic tool for policymakers to cope with the slowdown caused by oil prices, especially in the Middle East. Two of the world’s largest Islamic banking markets, Iran and Saudi Arabia, are also undergoing economic transformations that could lead to a more prominent role for Islamic banks.

Ahsan Ali, the Managing Director & Head of Islamic Origination, will also join this discussion. He is responsible for the global Islamic Corporate & Institutional Banking business at Standard Chartered Bank.

The exclusive briefing is the second in a new series of Asia House events focusing on the Middle East. The Asia House Middle East Programme will look at the region’s role within Asia, and its connections with the developed economies in the West.

This event is aimed at providing unique, informed and exclusive insights to Asia House corporate members. To register interest, or for more information about corporate membership, please contact Aini Abdullah, Business and Policy Programme Assistant: aini.abdullah@asiahouse.co.uk