<\/p>\n
Standard Bank Shari\u2019ah Banking customers will now be able to finance their Floorplan requirements in a Shari\u2019ah-compliant manner.<\/p>\n
The bank has launched a new product called the Shari\u2019ah Banking Floorplan, which allows dealerships to finance a wide range of assets, including passenger vehicles, commercial trucks and agricultural machinery.<\/p>\n
It also provides a much-needed Shari\u2019ah-compliant route to stock financing for dealerships.<\/p>\n
The launch comes amid growing demand for Shari\u2019ah-compliant financial solutions in South Africa, particularly among businesses seeking funding options that align with their values while remaining commercially competitive.<\/p>\n
\u201cWe\u2019ve introduced our Shari\u2019ah Banking Floorplan solution to support dealerships with a Shari\u2019ah-compliant alternative that provides them with a leading technology platform where they can digitally manage their assets,\u201d says Ameen Hassen, head of Shari\u2019ah Banking at Standard Bank.<\/p>\n
\n\u201cIt responds directly to the rising demand for solutions that are both competitive and aligned with Shari\u2019ah principles.\u201d<\/p>\n<\/blockquote>\n
The Shari\u2019ah-compliant financing solutions specifically for vehicle dealerships were a relatively underdeveloped segment in South Africa, despite steady growth in Islamic banking more broadly.<\/p>\n
Industry estimates suggest that demand for compliant financing solutions continues to outpace supply, particularly within asset-heavy sectors such as automotive, agriculture and construction.<\/p>\n
This gap presents a significant opportunity for financial institutions to expand their Shari\u2019ah-compliant offerings and support businesses seeking funding solutions that align with their values while remaining competitive in conventional markets.<\/p>\n
\nIndustry research shows that the Shari\u2019ah vehicle finance and movable asset finance sector in South Africa exceeds R8 billion.<\/p>\n<\/blockquote>\n
\u201cWe are always asking ourselves what more we could do to better support our clients. This launch reflects our ongoing commitment to expanding our Shari\u2019ah-compliant offering and ensuring clients have access to innovative, fit-for-purpose financial solutions,\u201d adds Hassen.<\/p>\n
Brought to you by\u00a0Standard Bank Group.<\/em><\/p>\n
Moneyweb does not endorse any product or service being advertised in sponsored articles on our platform.<\/em><\/p>\n<\/p><\/div>\n
#Standard #Bank #launches #Shariahcompliant #floorplan #dealerships<\/p>\n","protected":false},"excerpt":{"rendered":"
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