StanChart weighs options for Malaysia Islamic arm

KUALA LUMPUR: Standard Chartered Plc is considering options for its Islamic banking unit in Malaysia, including a potential sale, people with knowledge of the matter said.

The London-based lender has been gauging interest from potential buyers for the business, known as Standard Chartered Saadiq Bhd, according to the people. It is weighing an exit from Malaysia’s Islamic banking market as fierce competition from local rivals has limited its growth prospects, the people said, asking not to be identified because the information is private.