StanChart Saadiq holds ‘Living Islam’ session

Standard Chartered Saadiq Bangladesh has recently hosted the fourth session of its Living Islam series, titled “Islamic Perspective on Wealth Creation, Accumulation, and Distribution.”

Mufti Yousuf Sultan, Member, Shariah Committee, Standard Chartered Saadiq Malaysia, led the session and shared his knowledge on the topic, said a press release.

A life-long learner and renowned scholar,Yousuf Sultan is an expert on Islamic finance and banking. Also present were: Naser Ezaz Bijoy, Chief Executive Officer, Standard Chartered Bangladesh; Khurram Hilal, Chief Executive Officer, Islamic Banking, Standard Chartered and Head, Group Islamic Product, Standard Chartered; and Ali Allawala, Head, Islamic Banking, Standard Chartered UAE and Head, Consumer, Private and Business Banking, Group Islamic Banking, Standard Chartered.

During the session, Mufti Yousuf Sultan, Member, Shariah Committee, Standard Chartered Saadiq Malaysia, commented on the importance of viewing financial matters through an Islamic lens. He touched upon the responsibilities that Muslims have in relation to the acquisition and distribution of wealth, as well as one’s commitment to the greater community. He said, “The ultimate ownership of wealth belongs to Allah SWT, while human beings are just trustees. Hence, a believer must adhere to Islam in regard to how one earns, and where and how one spends it. Islam encourages wealth accumulation through work and business and discourages being idle.”

Sabbir Ahmed, Managing Director, Head of Consumer, Private and Business Banking, Standard Charted Bangladesh, said, “There is a growing need for Islamic finance facilities in Bangladesh and a desire to do what is right – to adopt Islamic banking and ensure that it has a positive impact and contributes to change. Throughout our lives we earn and accumulate wealth. With this comes the need to distribute wealth – a need centred around the Islamic philosophy of giving back to the wider community. We had the privilege to learn from Mufti Yousuf Sultan.”