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You Want The Right Path,
Well show you the Islamic way,
Standard Chartered Bank
SCB Islamic Auto Financing (Leatest Models Avaliable)
Standard Chartered Bank believes in providing tailor-made solutions for our customers. Our vision is to be the best bank in the communities we operate by providing innovative products.
Recognizing the need for 'Riba-Free' banking we are proud to introduce Islamic Auto Finance. This product was developed with extensive research and guidance from an independent Shariah Council based in the United Arab Emirates. These scholars examine a transaction/ product and review the process and contracts pertaining to the transaction/ product. If they find everything in conformity with Shariah Principals they issue a ruling, which confirms their agreement to conduct a transaction.
How it works?
Murabaha is a widely accepted Islamic financing mode. It entails a
purchase and sale of on asset on profit with payments deferred to on
pre-agreed tenor. All the variables including but not limited to profit,
price and tenor would be clearly defined to you before the transaction is
completed.
How can I get Islamic Auto Finance with Standard Chartered Bank?
Getting Auto Finance from SCB is very simple. All you need to do is
contact us and we would be happy to assist you. Our trained sales
executive would come to your doorstep and guide you through the entire
process. All you need to do is choose the make, model and the color of the
vehicle you wish to purchase and we guarantee you world-class service
combined peace of mind and "Riba-Free' Banking. (A copy of the
Shariah-ruling can be provided to you upon request).
Other Shriah-compliant products:
Our commitment to provide solutions without compromise extends to our
other products as well.
Islamic Home Financing
Islamic Current Account
Our Islamic Banking Branch is located at Metropole in Karachi. Additionally you can contact us through our 24-hour Phone-banking Center. (Complete contact information is at the back of this brochure)
SCB Shariah Supervisory Committee
All Islamic products offered by SCB are approved by an independent Shariah
Supervisory Committee composed of respected and qualified scholars of
international repute. These experts helped guide Standard Chartered's
Islamic products team, based in Dubai and Pakistan, to create a product
line suited to our customers who prefer Islamic finance. Currently, the
honored members of the committee are:
Dr. Abdul Sattar Abu Ghuddah
Current member of Islamic Supervisory boards for several Islamic
Institutions, in various parts of the world including the Middle East and
Europe.
Dr. Abdul Sattar Abu Ghuddah holds positions of Shariah Advisor and
Director, Department of Financial Instruments at Al-Baraka Investment Co.
of Saudi Arabia. He holds a PhD in Islamic Law from Al Azhar University
Cairo, Egypt. He is an active member of the Jeddah-based Islamic Fiqh
Academy and was a member of the Fatwa Board in the Ministry from 1982 to
1990.
Sheikh Nizam Yaquby
Current member of Islamic Supervisory boards for several Islamic
Institutions, in various parts of the world including the Middle East and
Europe.
Since 1976, he has taught tafsir, hadith and fiqh in Bahrain. He is also
the author of several articles and publications on Islamic finance and
other sciences in English and Arabic. Sheikh Yaquby was educated in the
classical Shariah sciences in his native Bahrain and in Makkah. He
received his M.Sc. in Finance from McGill University in Montreal.
