Standard Chartered Islamic SME Banking
Saadiq Letter of Credit (LC)
Standard Chartered Saadiq – LC provides your suppliers with assurance from a world class bank while respecting your Islamic values. When dealing with unfamiliar suppliers, you can be confident that payment will not be made until the documents are received and verified to be in order according to the agreed terms of the LC.
Saadiq Import Finance
Standard Chartered Saadiq can also provide financing solutions for the goods you import through our Saadiq Letter of Credit. It is based on the Murabaha structure whereby the bank buys the goods from the foreign supplier and sells the same to you at an agreed profit margin.
Saadiq Shipping Guarantee
Do you need help to clear your imported goods expeditiously prior to receiving the shipment documents? By utilizing our guarantee, you can get your goods cleared promptly until shipment documents are received.
Saadiq Letter of Credit Confirmation
You may deal not only with unknown foreign buyers, but also with their less well known banks whose Letter of Credit may not give you sufficient comfort. We offer you Saadiq Letter of Credit Confirmation that gives you the peace of mind that your payment is guaranteed by a leading international bank.
Saadiq Export Bills for Collection
You can simplify dispatch, payment tracking, and reconciliation of your export collections when you choose Standard Chartered Saadiq's counter for export collections. We can handle your collections requests the way you want through Documents against Acceptance, Documents against Payment or Clean Collections.
Saadiq Export Bill Finance
At Standard Chartered Saadiq, we offer Export Bill Finance for financing your export transactions in a Shariah compliant manner. In addition, Standard Chartered's thorough checking standards will reassure you that your documents will not be rejected. Strict service standards are applied to ensure that your documents are negotiated and dispatched quickly.
You need to provide bank guarantee to your customers. Using the Islamic Financing concept of Kafalah, Standard Chartered Saadiq offers tailored Islamic solutions to meet all your performance, financial and other guarantee needs.
Saadiq Short Term Finance
We offer short term finance so you can manage your working capital efficiently and ensure adequate cash flow to meet your short term obligations.
Saadiq Term Finance
We also offer medium to long term finance to help meet your expansion requirement. The product can be used to acquire fixed assets plant, machinery and equipment based on your specific requirements. The financing is structured using the Shariah Compliant mode of Diminishing Musharakah. Under the arrangement, Standard Chartered Saadiq will acquire fixed assets in partnership with you and rent out its share to you against periodic payments.
Saadiq Foreign Exchange Spot and Forward
Saadiq Foreign Exchange Forwards offers a convenient way for you to manage your currency exposures against adverse fluctuations in a Shariah Compliant manner.
Saadiq SME Trade Desks
We have set up Islamic SME Trade Desks at the following branches:
- Defence Phase 6 Branch, Karachi
- Al Tijarah Branch, Karachi
- Gulberg Islamic Branch, Lahore