NAME SAAD RAFIQ

REG NO 1511304036

CLASS B.B.A-7

SUBJECT BANKING

REPORT ON STANDARD CHARTERED BANK

SUBMITTED TO Mr. JAMIL BABAR

SUBMITTED ON 05-01-2007

PRESTON UNIVERSITY

A Global Company with a Personal Touch

Standard Chartered is the largest International Bank in Pakistan. We are also the oldest foreign bank, with a presence of more than 150 years in this region. Standard Chartered has 46 online branches in Pakistan.

Our success is built on our ability to provide you with superior, differentiated financial solutions in the markets we serve. This has propelled us to become market leaders in Pakistan. By continuously assessing your needs, we have been able to introduce innovative new products and channels.

What sets us apart from our competitors is the premium we place on service excellence. Our rigorous recruitment and training standards ensure that our staff is able to cater to your most complex financial requirements. Central to this service philosophy is the consultative approach we take with each customer. By getting to know you better, we can identify your needs and match them with tailor-made product and service solutions.

To put it simply, we are committed to making today's complex financial world easier for you.

Consumer Banking:We provide mortgages, Credit Cards, personal loans, auto loans, deposit accounts, and wealth management products. In order to maximize customer convenience, we offer 24-hour phone banking, eStatements, SMS banking, ATM cards and VISA debit cards, as well as 46* online, state of the art branches.

Corporate & Institutional Banking:Corporate & Institutional Banking provides trade finance, cash management and lending services.

Global Markets:Global Markets provides foreign exchange, interest rate management and debt capital markets services

Products & Services

Personal Banking Overview

Credit Cards and Loans

Credit Cards

Loans

Mortgages

Personal Financing

Auto Loans

Deposits

Basic Banking Account

Rupee Current Account

Foreign Currency Accounts

Flex Accounts

Tijarat Accounts

Supersave

High Yield Accounts

Business Account

Mahana Izaafa

Munafa Max

Rupee Term Deposits

Priority Banking

Services iBanking

Phone Banking

ATM Card

Debit Card

CDM

E-statements

Mobile phone Banking

Overdrafts

Lockers

Commercial Banking Overview

Cash Management

For Financial Institutions

For Corporates

Trade Services

For Financial Institutions

Internet-Based Platforms

Proprietary Workstation Solutions

Host-to-Host (H2H)

Electronic Channels

Channel Finance

Our International Network

Global Markets Overview

Interest Rate Derivatives

Order Watch

SME Banking Overview

Cash Management Services

Financing Facilities

Islamic Banking

Overview

Home Financing

Islamic Current Account

Islamic Saving Account

Islamic Term Account

Auto Financing

PERSONAL BANKING

Overview

Helping You Manage Your Money Better

Standard Chartered Bank enjoys a unique position as the oldest and largest international bank in Pakistan, with a presence of more than 150 years.

Our objective is to provide you knowledgeable, efficient and reliable financial services. We are committed to offering superior, differentiated financial solutions to help you manage your money better.   

Credit CardsThe Most Powerful Credit Cards in Pakistan

Standard Chartered Credit cards combine the international acceptability of VISA / MasterCard with worldwide reliability and the exceptional service that Standard Chartered Bank represents.

As a Standard Chartered Credit Card member, you are entitled to a range of benefits that no other card offers. You can now use your Credit Card for more than just making purchases. Your Standard Chartered Credit Card provides travel benefits, added security features, access to other Standard Chartered banking services and a variety of entertainment facilities.

We thank you for choosing Standard Chartered Credit Cards and look forward to being of service to you.

Visa / Master Cards. Easy Credit. PIA Co brand Credit Card. Aasan Installment. Cricket Card

Visa / Master CardsStandard Chartered Credit Cards can be used at 24 million establishments across the globe in 210 countries including 10,000 in Pakistan displaying the Credit Cards logo.You can withdraw cash up to 75% of your available credit limit at any VISA/MasterCard ATM across the globe. Cash can also be withdrawn "Over-the-Counter" at financial institutions worldwide, or at any of the Standard Chartered branches and all other VISA/MasterCard member banks in Pakistan.

Easy Credit.One of the most unique products in Pakistan Standard Chartered Easy Credit (EC), which combines the power of a Credit Card with the convenience of a Chequebook. As an EC cardmember you will be entitled to a host of benefits that no other facility offers. EC provides you with a higher credit limit, more purchasing power, with the lowest financial charge and access to Standard Chartered Services around the globe. This means that Easy Credit is the best credit facility offering more and more across the country.

PIA CoBrand Credit CardYour Standard Chartered-PIA CoBrand Credit Card offers you the best of both worlds. Alongside the global benefits of Standard Chartered Credit Cards, you can now enjoy an exclusive range of privileges with PIA's Frequent Flyer Programme, Awards +Plus.

AASAN Instalment AASAN Instalment allows you to select a payment plan of your choice for anything you purchase with your Standard Chartered Credit Card. Offers the lowest instalments at only 16.95% Is applicable to international purchases as well Allows transfer of outstanding balances from other credit cards Is available in comfortable payment options of 6, 12, 18, 24, 30, 36 months

Cricket CardAt Standard Chartered, we believe in offering our customers the best value. The Standard Chartered Cricket Credit Card is your key to enjoy cricket up close and personal with original memorabilia, coaching camps, discounts, free match tickets, talk shows and much more.

LoansAt Standard Chartered we understand your ever changing financial needs. We provide you with an array of options to help you plan ahead and manage your finances on your own terms.

Personal Financing Auto Loans Mortgages

SCB Mortgage Loans – Aashiana

At Standard Chartered we recognize that owning a home is a family's most cherished dream. This is why we are dedicated to providing you with the means and tools to fulfill your dreams. With our Home Purchase and Home Credit schemes, you can now buy or renovate your house and turn it into the home you have always yearned for.

So, while you look for a home that suits your family let us provide you with a home that suits your pocket.

Personal Financing Facility

A flexible loan plan to help you realize your dreams It's time to grab life's opportunities. With a Standard Chartered Personal Financing Facility, you can now turn your dreams into reality. Use the loan to furnish your house, go on a dream vacation, or pay for your child’s education

Auto Loans

SCB Auto Loan - Gets you behind the wheel of the CAR you’ve always dreamed of!!!!!

It is “The easiest way to own a car”…Why wait then, contact us now, our highly skilled sales team is eagerly waiting   to assist you in your car financing decision.

DepositsOur full range of deposit products gives you an unmatched combination of high returns and liquidity. In addition, our nationwide network of ATMs offer’s you 24-hour convenience in withdrawing your funds, ensuring that your money works for you, as you would like it.

Current Account Saving Account Term DepositsBasic Banking Account

Supersave Accounts

Rupee Term Deposits

Rupee Current High Yield  

Account AccountsForeign Currency Accounts Business Account  

Flex Accounts Mahana Izaafa  Tijarat Accounts Munafa Max  

Basic Banking Account

In line with the State Bank of Pakistan BPD Circular No. 30 of 2005 dated November 29th, 2005 Standard Chartered Bank has introduced the Basic Banking Account (BBA).

Rupee Current Accounts

The quick and easy way to pay by unlimited cheques

Why carry large sums of money. Open a Pak Rupee current account and enjoy the convenience of being able to pay your bills and make purchases quickly and simply - whenever you want. If you are an individual Pak Rupee account holder, you will also have access to 24 hour banking through our ATMs and Phone Banking Rupee Current Accounts

The quick and easy way to pay by unlimited cheques

Why carry large sums of money. Open a Pak Rupee current account and enjoy the convenience of being able to pay your bills and make purchases quickly and simply - whenever you want. If you are an individual Pak Rupee account holder, you will also have access to 24 hour banking through our ATMs and Phone Banking

Foreign Currency Accounts In addition to PKR deposits, Standard Chartered also offers current, savings and term deposit accounts in foreign currency.

Accounts can be opened with a minimum of US$10,000 or equivalent in

US Dollars Pound Sterling

Euro

Flex Accounts The flexible way to build your salary with more savings, more gains

The most flexible account ever for individuals who want more value from their salaries. Flex has no minimum balance requirement, plus a host of other advantages to suit your needs

Tijarat Accounts

The current account that's especially designed for business. Access your account from 115 online branches nationwide

Standard Chartered's Tijarat account, is the ideal way to support your business. With so many services especially packaged for your convenience, security and flexibility, Tijarat ensures that the success of your business is our business

Supersave Accounts As your balances climb, So does your rate of return

Standard Chartered's PKR savings account, Supersave, gives you full access to your savings at any time and thanks to a tiered rate structure, you earn higher returns on higher balances. What could be more rewarding? Furthermore, you also qualify for a host of other services

High Yield Accounts

Enjoy the dual advantage of a current and savings account

Ideal for businesses that have high transaction volumes, the High Yield account offers liquidity and returns for those who need flexibility

Business Account

Business Account is a flexible current account that gives you the freedom to transact wherever your business takes you. Now you have the most secure way of transferring your funds anywhere in Pakistan without the hassles of carrying Cash or Travelers Cheques.

Through Business Account you can deposit and withdraw funds from any of our 115 branches across 22 cities. And what's more our Online/Real time technology allows you to conduct a host of banking services in any of our branches. Through Business Account you can:

Get Pay Orders/ Demand Drafts anywhere in Pakistan Immediate access to your account information Faster Cheque Clearing

Mahana IzaafaMahana Izaafa is a unique Rupee Saving Account which combines a high rate of monthly profit, flexibility of withdrawal and convenience, all in one. The special tiring structure ensures a higher profit on higher deposits. It is the smart choice of the profit minded who demand more than just profit from their bank account. Today it is the preferred choice of thousands of satisfied customers including businessmen, salaried individuals, housewives, business houses and retirees.

Munafa MaxMunafa Max is a branded long-term savings deposit, with profit payment at maturity. Additional value added features give customers the flexibility to meet their interim liquidity needs. It is a product ideally suited to corporate as well as individual clients who want a good return on their money.

Munafa Max is a Fixed Deposit Account with profit paid at maturity. The available tenures are 3 months, 6 months and 1 year.

Only Munafa Max offers you one of the highest rates of return with the perfect blend of convenience and security.

Rupee Term Deposits Flexibility that's made to measure

You'll find our Rupee Term Deposits so flexible; you'll think they were made to measure - just for you. With a perfect match of regular income and attractive returns, Standard Chartered Bank's rupee term deposits are available in 7 days to 5 years tenors

Priority BankingWe make everything you value our priority We recognize your need to maximize your financial growth and security without compromising on those things, which are important to you; Family, Business and one’s own personal growth. This is why we would like to introduce Standard Chartered Priority Banking to you.

With Priority Banking you’ll enjoy the freedom to concentrate on your priorities, secure in the knowledge that you have a team of experts devoted to your financial well-being. What’s more, you and those closest to you will benefit from a range of exclusive Priority Banking services and privileges.

Plan, Grow and Protect your wealthPriority Banking aims to bring you the experience and expertise, which is vital for managing your wealth. Our unique

Plan, Grow and Protect methodology gives you the choice of managing your wealth efficiently and effectively.

PlanOur Relationship Managers, together with product specialists, design customized solutions and financial plans as per your choice, taking into consideration your financial needs and goals. We identify the gaps between current situations and future goals and aid you in taking decisions to narrow or perhaps even secure these gaps.

GrowAt every stage in your life, Priority Banking provides a comprehensive suite of products to help you build your funds and assets. We offer you personal and business banking solutions to choose from, together with a wide range of innovative products to cater to your investment, credit and insurance needs. Protect Through periodic reviews and timely updates, we help you decide and make adjustments to banking solutions and investment portfolios to make them profitable in light of the new developments. These regular reviews help you to plan for the future, while protecting the value of what you have built over time.

Banking Service

Standard Chartered Banking is Convenient Banking

At Standard Chartered Bank our aim is to provide you with services to swiftly and conveniently cater to your ever-growing banking needs. We understand that in today's fast moving world, your time is precious. This is why we are constantly finding new ways to make things simpler by reducing the time you spend in branches and offering innovative products and services. We are committed to providing convenient, flexible, tailor-made solutions that help you stay in control of your finances.

i Banking

iBanking is a personalized and hassle– free Internet Banking service that enables you to connect with your account securely - anytime, anywhere.

Things You Can Do Online:

Account Services

Check Account Balances See account activity and cheque status onlineTransfer money instantly to anyone with a Standard Chartered Pakistan AccountDownload or request account statementsSet up standing orders for recurring funds transfersOrder cheque books for free

Card Services View your last three Credit Card StatementsRequest Credit Limit increaseSet up standing orders for recurring Credit Card Bill payments

Phone Banking

Bank on your phone anywhere, anytime

Phone Banking is also beneficial for customers as it helps saves time and money. Phone Banking has helped minimize Branch Visits and time spent waiting in long queues. Furthermore, you get 50% discount on the following transactions made via Phone Banking:

Cheque Book Request Pay Order/Demand Draft Request Balance Certificates ATM Cards Duplicate Statements

You can enjoy the following services anytime, anywhere via our Phone Banking Services:

Balance enquiries Cheque book request Transaction details Profit, interest, and exchange enquiries Transfer of funds Pay order / demand draft issuance Term deposit booking / encashment ATM Card re-generation, damaged card replacement Duplicate statement Link account opening Cheque stop payments TIN/PIN Generation

ATM Service

Enjoy fast and convenient banking round the clock

With our ATM card, you can bank 24 hours a day - 365 days a year. Enjoy a host of banking services including cash withdrawals, balance enquiries, statement & Chequebook requests, funds transfer, PIN changing facility and more.

Services Offered: Cash Withdrawal Mini Statement Cheque Book Request Statement Request Funds Transfer PIN Changing Facility Shared Network

VISA Debit Card

The Standard Chartered Bank VISA Debit Card allows you to make purchases at merchant outlets and withdraw cash at ATMs, with one single Card.

Use it at:

Over 24 million merchant outlets where VISA is acceptedOver 1 million ATMs in 150 countries including Pakistan

5 Great Reasons to use your VISA Debit Card:

Buy Now, Pay Now: Purchase amount instantly deducted from your account

Manage your Money: Spend only as much as you have in your account

Security: Safer than carrying cash

Global Acceptance: Travel the world with one Card

Powered with complete Self Service banking options:

CDM ServiceThe Cash Deposit Machine (CDM) is a self-service terminal that lets you make deposits and payment transactions by cash.

All successful transactions are immediately credited and customers will be issued an advice slip confirming the transaction. To use the CDM, customers need to have either his/her Standard Chartered Bank Card (ATM or Credit Card) or know his/her card number (ATM or Credit card).

Services Available Cash Deposit Cash Deposit to Account Credit Card Payment

Cheque Deposit to Account

E-statements

Sign up for the FREE Service that delivers your Credit Card, Shopping Card & Bank account statement on email.

What you get Track your Credit Card, Shopping Card & Bank Account

activity quickly & easily Print Statements anytime View statements while you are on the road Avoid the hassle created by lost or stolen paper statements Receive the same statement on multiple email addresses

(maximum 3) Choose between daily, weekly or monthly frequency

SMS banking

We provide you with immediate access to your Bank, 24 hours a day, and 7 days a week. You now have your family, friends and your Bank at your fingertips.

After registering for this service, you can get up-to-minute Account information through an SMS - anytime, anywhere.

Secure OverdraftAnother benefit that you never knew was there

Picture this: You need some Pak Rupee financing to meet your day-to-day expenses or some sudden business or personal need.

An SCB Overdraft allows you to meet these needs without your having to encash your government securities or prematurely liquidate your Standard Chartered term deposits.

Everything is taken care of in a few easy steps. You can also get and overdraft in Pakistan against deposits held with certain Standard Chartered branches abroad.

LockerMore than 150 years of security, trust and convenience lie behind your Standard Chartered safe deposit locker

Give your valuables the maximum-security features and facilities of Standard Chartered safe deposit lockers.

Generations of customers have counted on Standard Chartered Bank's unrivalled security and peace of mind.

Commercial BankingOverview

As part of Standard Chartered's global transaction solutions to Corporates and Institutions, we provide Cash Management, Securities Services and Trade Services through our strong market networks in Asia, Africa, the Middle East and Latin America. We also provide a bridge to these markets for clients from the U.S and Europe.

We are committed to providing you with

Integrated, superior cross-border and local services Efficient transaction processing Reliable financial information Innovative products World-class clearing services

Cash management

For Financial Institutions

Standard Chartered is highly recognized as a leading cash management supplier across the emerging markets. Our Cash Management Services cover local and cross border Payments, Collections, Information Management, Account Services and Liquidity Management for both corporate and institutional customers.

If you are looking for a correspondent banking partner you can trust, Standard Chartered can help you. We have more than 500 offices located in 50 countries throughout the world and, with 150 years of on-the-ground experience, we can help our bank clients with all their cash management needs.

Clearing Services Continuous Linked Settlement Asian Gateway

For Corporates

Standard Chartered is highly recognized as a leading cash management supplier across the emerging markets. Our Cash Management Services cover local and cross border Payments, Collections, Information Management, Account Services and Liquidity Management for both corporate and institutional customers.

With Standard Chartered’s Cash Management services, you’ll always know your exact financial position. You have the flexibility to manage your company’s complete financial position directly from your computer workstation. You will also be able to take advantage of our outstanding range of Payments, Collections, Liquidity and Investment Services and receive comprehensive reports detailing your transactions. With Standard Chartered, you have everything it takes to manage your cash flow more accurately.

Payments Services Collections Services

Liquidity Management

Trade ServicesInternational trade is your business. Making it go faster is ours. We provide services that ensure prompt payment for your letters of credit and documentary collections. We also provide expert processing of documentary transactions to help you get goods or funds faster. Add to that an international network that supports you where you do business.

For Financial Institutions As traditional barriers to doing business on a global scale fall away, more and more of your clients may be considering new ways to take advantage of international trading opportunities. Providing the full range of banking services required to support their activities is a major challenge. With the help of Standard Chartered, it is a challenge that you can take on with complete confidence.

Internet-Based Platforms

Companies today recognize the flexibility and ease of use of the internet. Internet-based platforms are cost-efficient and more importantly, they are:

accessible anywhere, anytime easy to use with generally no installation automatically upgraded anytime there are improvements

Standard Chartered’s four main Internet channels, Web Bank, B2BeX, Online Treasury 2 and Online Banking, ensure that companies realize the full benefits of using an internet platform.

Proprietary Workstation Solutions

For companies who require limited functionality but have a high volume of transactions, and those for whom an actual installation on-site is preferred, the proprietary workstation is ideal. Standard Chartered's proprietary workstation solutions include eBanking, EB Link (for the Americas), and Straight through Services.

Host-to-Host (H2H)

For companies who wish to outsource both their Accounts Payable and Accounts Receivable activities, Standard Chartered's Host-to-Host (H2H) interface is a highly customized solution, providing a direct interface between your back-office system and Standard Chartered to facilitate the sending of instructions and receiving reports. Our Host-to-Host interface may also be configured to support auto-reconciliation with your back-office. All communication between your location and Standard Chartered is via secure dial-up connection.

Electronic ChannelsThrough three strategic channels, Internet, Proprietary Workstation and Host-to-Host, companies can be assured of a wide range of functionally rich platforms designed to suit your specific requirements. Depending on your geographic location, transaction volume, infrastructural availability or type of connectivity, Standard Chartered will help determine the best electronic channel for you, developing new technologies and channels where necessary.

Complementing these three strategic channels is the more traditional fax where you designate a specific fax number in your setup profile for your requested Cash Management, Commercial Loans, Trade Finance or Foreign Exchange reports to be faxed to you according to a pre-determined schedule.

Channel FinanceChannel finance is a supply chain-financing program where Standard Chartered Bank provides flexible financing arrangements at competitive rates to both your vendors and dealers.Standard Chartered Bank's Channel Finance solution comprises:

Dealer Finance Supplier Finance

Our International Network

Global Markets

OverviewLeading the way in Asia, Africa and the Middle East

In its unique position as an international bank with strong franchise, Standard Chartered combines an in-depth knowledge of local markets with global product expertise to offer effective financial solutions. The bank capitalizes on its onshore presence across Asia, Africa and the Middle East to offer customers convenient and reliable access to the widest range of currency markets, to date local market information, country-specific global risk management strategies, and customized capital raising and liquidity management solutions.

With 150 years of emerging market experience, our in-depth understanding of the local market is unrivaled by most other financial institutions, especially in the currencies of Asia, the Middle East and Africa. We are able to meet the needs of local Corporates, multinational companies, development organizations, investment and financial institutions, and central banks around the world.

Understanding that each customer's needs are unique, Standard Chartered customizes Client Solutions for risk management, yield enhancement, liquidity management and debt financing:

Our products and services are available in all major following countries: Africa Tanzania, Ghana, Zimbabwe, Gambia, Morocco,

Tunisia, Mauritius, Zambia, Nigeria, Ivory Coast, Kenya, Uganda, Botswana, Malawi, Seychelles, Mozambique, Ethiopia

Latin America

Argentina, Brazil, Chile, Colombia, Mexico, Venezuela, Peru

Middle EastEgypt, Lebanon, Oman, Bahrain, Jordan, Qatar, Kuwait, Saudi Arabia, UAE

Asia India, Korea, China, Taiwan, Philippines, Bangladesh, Cambodia, Pakistan, Sri Lanka, Vietnam, Myanmar, Fiji

Europe Czech Republic, Malta, Turkey, Cyprus, Poland

Interest Rate   Derivatives Standard Chartered offers a comprehensive range of derivative products, founded on our extensive market knowledge and risk management expertise.

This unique combination gives us the flexibility to offer you a niche derivative capability in both less liquid regional markets (e.g., Thailand and South Africa), as well as in the world’s major currencies.

We have provided interest rate derivative solutions to a broad spectrum of corporate and institutional clients since 1992. Our derivatives capabilities continue to be voted highly by a variety of external polls in regional magazines.

Order WatchStandard Chartered Bank has a worldwide network of over 41 dealing centers and can accept your target or stop loss orders to be monitored around the clock, according to your instructions, thus giving you complete 24-hour coverage of the world's foreign exchange markets. Market conditions are often volatile and it is essential therefore to define the basic terminology.

Target Orders Stop Loss Orders Dealing with another Center

SME BankingA right partner for your growing business

At Standard Chartered Bank, we have been offering innovative products and services for over 150 years. In line with this tradition, we now introduce Tijarat Plus- Business Transaction Account, SCB Kamyab, Business Installment Loan and SCB Business Finance designed exclusively to cater to your Business needs. We offer features for better accessibility and management of your funds.

Get the Financing You Need to Grow Customized Solutions for Your Business Manage Your Financial Resources Better One-Stop Financial Solution for Your Growing Business

Cash Management ServicesTijarat Plus AccountTijarat Plus is a customized business account, which offers features for better accessibility and management of your funds. It will allow you to concentrate on your priorities, while Standard Chartered Bank takes care of your banking needs.

We help you plan, grow and manage your businesses smoothly, by providing you with the following services: 

1. Visa Business Debit Card  2. Free Online Banking

3. Extended Business Hours 4. Free Accidental & Travel Inconvenience Insurance5. Free Business Statements  6. Free Mobile alerts through SMS Banking 7. 75% off on pay order charges

Financing Facilities

SCB Business Finance   If you answer YES to any of these questions, then stop stressing and start growing!  No more waiting, now you have SME Banking of Standard Chartered on your side. SME Banking offers lending products and services to help you plan, manage and grow your business.  No matter what your business financing needs are, we have just the right solutions to become your banking partner. 

SCB Kamyab

This is a Business Installment Loan, exclusively for you to raise funds for working capital to business expansion, no matter what your business requirements are; we have a “one stop” solution for you. And on top of that, you could borrow up to thrice the value of your cash/near cash collateral.

SCB Business Finance

SME Banking offers Business Finance against self occupied residential property, under following two distinctive modes:

1. Running Finance – Overdraft Facility2. Installment Loan Facility

RUNNING FINANCE FACILITY DETAILSLoan Amount From Rs. 500,000 to Rs.15,000,000

Loan Purpose To finance Working Capital requirements

Loan Tenors Revolving facility with annual renewal

Collateral Self-owned Residential PropertyLoan-To-Value Up to 65%

Mark Up* Mark up on utilized amount only Mark up starts from 14.5%

Loan Repayment

Interest payments on monthly basis Principle repayable on demand

INSTALLMENT LOAN FACILITY DETAILSLoan Amount From Rs. 500,000 to Rs.15,000,000

Loan Purpose To finance Working Capital / Capital Expansion requirements

Loan Tenors 10 years Installment Facility with annual renewal

Collateral Self-owned Residential PropertyLoan-To-Value Up to 65%Mark Up* Mark up starts from 14.5%Loan Repayment In Equal Monthly Installments

SME Products

Islamic Banking

SCB Islamic Home FinancingWith Standard Chartered Islamic Home Finance you can buy a home and make it your own in compliance with shariah principles. Standard Chartered Islamic Home Finance solution is based on the concept of Diminishing Musharaka.

Islamic Current Account

When you deposit your funds in SCB's Islamic Current Account, you can be sure that your funds will only be used in a Shariah compliant manner. There are no interest-related charges on your Islamic Current Account. The Standard Chartered Islamic Current Account is all about flexibility and convenience.

Islamic Saving Account

Islamic Saving Account works on the concept of ‘Modaraba’, which is a widely, used Islamic Finance Mode. The Bank places your funds in its pool of Shariah compliant assets. The profit from these Islamic assets is shared between you and the Bank. Profit is calculated on the average monthly balance maintained in your account, hence the more you save, the higher profit

you can earn. Profit is credited to your account on a half-yearly basis.

Islamic Term Account

The Islamic Term Account works on the concept of 'Modaraba', which is a widely, used finance mode. The bank places your funds in a pool of Shariah compliant assets. The profit from these Islamic assets is shared between you and the bank. The profit sharing weightage is assigned based on the various tenures available under this product. So, a longer tenure means higher profit sharing weightage and better chances of a higher profit for you. The profit rates will be announced monthly and profit will be credited to your account on maturity.

SCB Islamic Auto Financing

It is a partnership whereby a financier and his client participate in the joint ownership of a property or equipment. It is understood that the client will purchase the share of the financier gradually over the life of the transaction, thus increasing his own share until all the share of the financier is purchased by him so as to make him the sole owner of the property.