Standard Chartered Saadiq Malaysia Berhad (Saadiq) has appointed Mohd Suhaimi Abdul Hamid as its Chief Executive Officer, effective March 16.

Suhaimi will drive the growth of Standard Chartered’s Islamic banking business in Malaysia, supporting the Bank’s refreshed priorities to further realise the value of the franchise, measured not only in monetary terms but also in the positive impact on our clients, stakeholders and communities.

Suhaimi was most recently the Chief Operating Officer and Head of Retail Business for Saadiq in Malaysia and brings nearly 20 years of experience in retail and corporate banking within the conventional as well as Islamic finance space.

Prior to Standard Chartered, he has worked in various capacities with Maybank Islamic Bank, OCBC, Alliance Islamic Bank, AmBank and MBf Finance.

“Islamic banking remains an integral part of the business at Standard Chartered as we continue to see growing demand from our clients in Malaysia.

“Suhaimi’s in-depth knowledge and Islamic banking experience will be invaluable in building our Saadiq propositions as the Bank positions for future growth,” said Standard Chartered Malaysia managing director and chief executive officer, Abrar A. Anwar.

Suhaimi succeeds Mohammad Ali Allawala who will be returning to the Standard Chartered Saadiq global office in the UAE as its Head for Islamic Retail Banking.

“On behalf of the Board and management of Standard Chartered, I would like to thank Ali for his immense contributions during his tenure and we wish him well for his future endeavours,” added

Abrar.

Standard Chartered became the first international bank in Malaysia to offer Islamic banking products in 1993 and Standard Chartered Saadiq Berhad was incorporated in 2008 as a full-fledged Islamic banking subsidiary.

Since then, the Saadiq franchise has grown from strength to strength, launching several first-to-market Islamic products such as the Commodity Murabahah Programme, Profit Rate Swap, Cross Currency Swap, Forward Rate Agreement, Islamic Trade and Supply Chain proposition.

Saadiq is also one of nine Islamic banks to form Bank Negara’s Community of Practitioners for its Value-based Intermediation initiative.

Saadiq has won local and international recognition for its strong record of performance and modern innovation-driven approach to Islamic banking.

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