Standard Chartered’s Pakistan subsidiary gets over first hurdle in Islamic banks contest
The Pakistani subsidiary of Britain’s Standard Chartered was among the winners of the first round ofGlobal Finance’s debut contest for Islamic banks as part of the famous financial periodical’s annual competition for the title of the world’s best digital bank.
Besides Standard Chartered Pakistan, there were three first-round winners of what was a country-level competition for the World’s Best Digital Islamic Banksawards, which is part of the 2015 World’s BestDigital Banks contest.
They were Kuwait’s Boubyan, Kuveyt Turk, which is a Turkish subsidiary of the Kuwait Finance House bank, and Abu Dhabi’s Al Hilal.
Islamic banking is banking compliant with sharia, Islamic law.
Winners in the World’s Best Digital Banks competition were only selected from banks that had entered the contest, the New York-based magazine said in a statement.
It said the criteria were “strength of strategy for attracting and servicing digital customers, success in getting clients to use digital offerings, growth of digital customers, breadth of product offerings, evidence of tangible benefits gained from digital initiatives, and web/mobile site design and functionality”.
The overall regional and global winners, and global subcategory winners, will be named at Global Finance’s Best Digital Bank Awards dinner on October 27, which will follow the magazine’s Digital Bank Conference. Both events will take place at The Brewery, an event and dining venue in London’s City.