Standard Chartered Saadiq recently hosted a global webinar, titled "Understanding how Sadaqa can be an Islamic response to a pandemic", reflecting on how our individual actions can collectively bring financial relief to communities.
This was the second webinar of the Living Islam series hosted by Standard Chartered Saadiq Bangladesh. Living Islam is a platform which brings Islamic scholars and experts to talk about Islamic topics that are part of our everyday life, reads a press release.
During the event, Standard Chartered Saadiq's distinguished Shariah Supervisory Committee's member, Dr Aznan Hasan (Malaysia), shared his thoughts on how aspects of faith such as Sadaqa can be an Islamic answer to this pandemic.
Rehan M Shaikh, CEO of Standard Chartered Pakistan, said "As we strive to harder to be trusted advisors in the financial industry, we would like to make a contribution to bring Islam into everyday life."
"In this regard, we have been organizing sessions of the Living Islam series, a homegrown concept that started from Pakistan and is now gaining momentum in our co-markets of Malaysia, Bangladesh and also UAE," Rehan added.
Dr Aznan Hasan, Shariah scholar and keynote speaker at the webinar, said, "This is a time for global solidarity and support, especially with the most vulnerable people of the society. The time has come to help. From Islamic perspective, helping others is recommended and rewarded, even more so during times of need. So, particularly in this pandemic, Sadaqa plays a very important role."
Naser Ezaz Bijoy, CEO of Standard Chartered Bangladesh, said, "The global pandemic is seeing an overwhelming urge amongst all of us to extend that helping hand – it has brought out an altruistic side that has never been seen so clearly before. With that thought of our customers and colleagues, we crafted the suitable, sustainable means that can address the call for help. It is our privilege to introduce a new product in the Saadiq line: the 'Saadiq Sadaqa Account', which is a first in the market."
Saadiq Sadaqah aims to support various local charitable causes such as female well-being, education for underprivileged children, climate change and health care which will lead to sustainable development of society.
Clients would be able to select the charity of their choice at the time of opening a deposit account with Standard Chartered. The profit earned from that account would go to the pre-assigned charity organisation, in compliance with Shariah principles.This is another first in the market and in fact the first among all Standard Chartered markets.
Standard Chartered Saadiq has led the way in Islamic Banking by introducing a number of 'firsts', from introducing the first Islamic credit card in 2007 to arranging the first Sukuk transaction in the market in 2019.
Its continuous focus on excellence has seen it being recognized with a host of international awards, including the Asset Triple A Islamic Finance Award, The Banker Islamic Bank of the Year and Global Finance Best Islamic Financial Institution recently.