Standard Chartered to expand consumer, Islamic banking in Pakistan

To grow its business in Pakistan, Standard Chartered plans to focus on expanding its consumer banking line as well as its Islamic banking portfolio, according to the bank’s Pakistan head, Mohsin Nathani.

“We have a fairly bullish view to Islamic banking in Pakistan,” said Nathani in an interview with The Express Tribune.

Islamic banking is one of the fastest growing sectors within financial services in Pakistan, with growth rates often exceeding those of their conventional competitors by over 15%. Standard Chartered won an award in the Islamic finance sector in Pakistan, with its financing of the Karachi Electric Supply Company (KESC) declared the deal of the year in 2010.

From: Tribune