Standard Bank building located on Baker Street in Rosebank, Johannesburg, South Africa. Global Banking & Finance Review Awards recognise institutions that excel in delivering ethical, Shariah‑compliant financial solutions while delivering innovation and impact. Winners are chosen for demonstrating advanced inclusive and sustainable Shari’ah Finance.
“When we first won this title in 2025, we were elated because it showed that the growing global appreciation of our innovation in Shari’ah banking to support SMEs. Winning it for the second time affirms that we are really consistently delivering innovative, Shari’ah-compliant solutions tailored to our clients’ unique needs,” says Ameen Hassen, Head of Shari’ah Banking at Standard Bank.
The latest win adds to a long list of accolades awarded to Standard Bank Shari’ah Banking in recent years: It currently holds the title of Africa’s Best Islamic Bank awarded by the Euromoney Islamic Finance Awards, a title it has held for two consecutive years. The bank also the current holder of South Africa’s Best Islamic Bank Euromoney Islamic Finance Awards title.
The bank has pioneered several industry firsts Shari’ah-compliant finance innovations. In 2025, it launched the first-ever Shari’ah-compliant Overdraft facility in Southern Africa. Its other leading innovations include the world’s first Shari’ah‑compliant Diners Club card, South Africa’s first fintech‑enabled unsecured Shari’ah‑compliant working‑capital solution through the Merchant Capital Shari’ah Advance, and the first Shari’ah‑compliant term facility in South Africa offered by a commercial bank.
Since inception Standard Bank Shari’ah Banking has recorded a compounded annual growth rate of 21%, reflecting sustained demand in a segment that is steadily broadening beyond its traditional base.
“Our compounded annual growth rate of 21% since inception is not only aligned with global industry norms, but it also shows that our innovative approach has always gone beyond product development, and the community that we service, demand these products, and appreciates them. We’ve reshaped financial access without compromising the principles promoting fairness, transparency and shared prosperity,” said Hassen.
Through disciplined execution and a strong pipeline of client‑centric innovations, Standard Bank Shari’ah Banking continues to cement its leadership in Africa. Its many accolades not only demonstrate market impact but also reinforce its long‑term commitment to advancing Shari’ah‑compliant financial solutions. DM
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