Standard Chartered Jersey recently supported a client who wanted a Shari’a-compliant mortgage to purchase a property in London.
The client is of Pakistani nationality, married, male, in his late fourties and works in the finance industry in Dubai. Living in the United Arab Emirates, he sought a bank with an established presence in both the UK and the Middle East to help him arrange his mortgage needs.
The bank’s Jersey team, with expertise in Shari’a corporate structuring and advisory, was able to work quickly and closely with the client over email, virtual meetings and telephone to provide an Islamic-compliant product.
The client, who originally started banking with Standard Chartered in 2019, now with this type of mortgage, also benefits from wider diversification across his portfolio of asset classes. With the nature of the bank’s focus on emerging markets (Asia, Africa and the Middle East), this is a prime example of how Standard Chartered Jersey is listening and responding to the needs of clients in Middle Eastern and Islamic countries who feel strongly about products aligned to their beliefs.