Standard Bank Shari'ah Banking Review - Halal Finance Products

South Africa's only certified Shari'ah-compliant payment card of its kind: a Diners Club charge card issued within the Standard Bank group and listed on the Shari'ah Advisory Committee's signed 2026 certificate. As a charge card, the outstanding balance is settled in full each month, so no interest-bearing revolving credit ever arises; the cardholder pays fees for the card service and receives Diners Club benefits such as lounge access and rewards. It fills the payment-convenience gap that Islamic banking customers otherwise face, since no South African bank offers a certified Islamic credit card.

Standard Bank's certified business asset finance: Shari'ah Commercial Asset Finance for a wide range of new or used movable assets, Full Maintenance Rental and Operating Rental structures for fleets, a Prepaid Fleet Card, and, launched in June 2026, the Shari'ah Banking Floorplan, a compliant stock-financing facility for vehicle dealerships covering passenger vehicles, commercial trucks and agricultural machinery on a digital asset-management platform. Standard Bank cites industry research putting SA's Shari'ah vehicle and movable asset finance sector above R8 billion. Commercial Property Finance rounds out the certified business financing shelf. Head of Shari'ah Banking Ameen Hassen leads the unit.

An immediate-access Shari'ah savings account: open with R100, earn a monthly profit share on your positive balance (indicative rate up to 6.55% per annum published on the page), and withdraw anytime with zero penalties. Profit is calculated and paid monthly on the average daily balance, there is no maximum balance, no monthly fees, and free inter-account transfers within Standard Bank. A distinctive feature lets you nominate the monthly profit to be paid into any account of your choice, inside or outside Standard Bank. A Business Call Account variant serves enterprises, and both appear on the SAC's signed 2026 certificate.

Standard Bank's business Shari'ah shelf is now broader than its personal one: a Shari'ah Business Current Account for everyday operations, Business Call and Business Fixed Deposit accounts, a full money market suite (Shari'ah Money Market Call, Notice and Fixed accounts), cash management, a Prepaid Fleet Card, Merchant Capital Shari'ah Cash Advance for SME working capital, and Shari'ah Forward Exchange Contracts, notably the first in Africa contracted under the ISDA Tahawwut Master Agreement framework for compliant FX hedging. All appear on the SAC's signed 1 January 2026 certificate. The business fixed deposit mirrors the personal Mudarabah with weightage-based returns over 33 days to five years.

Standard Bank's flagship Shari'ah product: a Mudarabah-based fixed deposit for lump sums from R1,000 over terms of 33 days to five years. The deposit is invested in Shari'ah-compliant financing and investments and the resulting profit is split on a stated 50/50 basis between bank and depositor. Profit is calculated on the average daily balance and can be paid monthly, quarterly, half-yearly, annually or at maturity, with longer terms earning higher weighted returns. No monthly fees apply; early withdrawal fees do. Indicative profit rates per term are published on the product page, and the Shari'ah Advisory Committee's signed 2026 certificate covers the product.