Its Islamic consumer banking global head Wasim Saifi was quoted by Reuters as saying, "We are looking at Africa as the next frontier for the Islamic banking sector."
The lender also revealed about plans to expand operations in Indonesia.
Shariah-compliant banking services’ demand is growing gradually in the region, and it represents up to 2% of Kenya’s banking industry.
Using its Islamic banking operation Standard Chartered Saadiq, the lender will offer Shariah-compliant banking products and services, aiming around four million Muslim population of the country.
"One of the main reasons for doing that is primarily because the local market place for Islamic banking is already well developed," Saifi told the news agency.
Initially, the bank will roll out the new products in Kenya, following which it will be launched in other countries in east Africa and west Africa, among others.
"We are looking at numerous countries for extending our Islamic banking footprint. One market that excites us a lot is Indonesia."
Currently, Standard Chartered provides Islamic banking services in Indonesia through associate Bank Permata.
