Standard Chartered eyes Islamic option

UK‑listed bank Standard Chartered is in talks with regulators to offer Islamic banking services in Oman and Nigeria now that both countries are revamping their regulatory environments to encourage the service, the group’s global head of Islamic banking has revealed.

Wasim Saifi told reporters in Dubai yesterday: “We are definitely evaluating the possibility of offering Islamic banking in Oman and Nigeria. The opportunity is tremendous.”

The firm already has a strong conventional banking presence in both markets.