My Sadaqah

My Sadaqah

Dubai, United Arab EmiratesUnited Kingdom
Project Summary
Elevator Pitch

Concise Summary: Help us pitch this solution! Provide an explanation within 3-4 short sentences.

Approximately 40 words left (320 characters).

About Project

Problem: What problem is this project trying to address?

There are many charities in the world who do great work and by making it easier to donate to them, will speed up the time it takes for them to receive contributions. Furthermore, many people in the world today do not have access to basic financial services as they may work in the informal business sector or lack collateral and credit history, therefore, by allowing our customers to select micro-entrepreneurs to finance, we are able to make a connection and bridge this gap.

Solution: What is the proposed solution? Please be specific!

'Sadaqah (charity) does not decrease wealth.' (The Prophet, PBUH) We are in the process of developing an online interactive platform called 'My Sadaqah' using the Bank’s existing online infrastructure to allow our banking customers' to make donations to charities easier, as well as provide micro-funding to aspiring entrepreneurs in the communities the Bank operates in. By engaging our customers and our communities, we seek to create an interface to not only raise awareness but also to encourage charitable giving and responsible financing of micro-entrepreneurs. The goal is to expand access to financing to vulnerable groups in our network, empowering them to improve their livelihoods and break the cycle poverty.
Impact: How does it Work

Example: Walk us through a specific example(s) of how this solution makes a difference; include its primary activities.

When a customer logs into their online account they can view their current/salary account as well as their ‘My Sadaqah’ (charity) account, where they can transfer money into, to use for charitable giving and financing micro-entrepreneurs. Now the customer has two choices, first to read about the various charities listed and make a simple cash donation from their ‘My Sadaqah’ account to the charity of their choice. They will receive updates from this charity to learn about how this money is spent. The second is to read about various micro-entrepreneurs who are looking for financing, (sourced and managed through Microfinance Institutions/ Field Partners). Once they make a selection, our customer can finance a minimum of USD 25 to that micro-entrepreneur. Throughout the term of the finance they will receive updates on how this micro-entrepreneur is progressing and as they repay the financing they received (monthly/quarterly/etc) a proportional amount becomes available again in their ‘My Sadaqah’ account until the amount financed by our customer is completely paid. Our customer then has the choice to finance another micro-entrepreneur, making the whole process sustainable. As well as giving the customer the option to donate to a charity of their choice. Ultimately, it is about giving our customers’ choices and options for how they choose to support charities and micro-entrepreneurs.

Marketplace: Who else is addressing the problem outlined here? How does the proposed project differ from these approaches?

Many banks are offering opportunities to make donations to charities through their ATMS, fewer through their online banking facilities, none are combining charitable donations with micro-entrepreneur financing in a single platform. The microfinance element of our platform we model ourselves on is the model who we would like to partner with as well various microfinance field partners existing in our network countries to identify micro-entrepreneurs. Technological challenges would hinder the success of ‘My Sadaqah’, however can be mitigated by launching in stages and building a good base.

Founding Story

As a team we are always thinking of ways to reach people who are in need and one day as we stood in our pantry discussing how the main challenge people face is access to capital to support their business idea and get it started. We realized by creating a single platform we could create value for our existing customers by making it easier to connect them to charitable causes and micro-entrepreneurs across our Bank’s network countries. The scale and impact of this could potentially be so significant that forced us to look into how we could get this up and running.
About You
About You
First Name


Tell us about yourself/your team.

We are a passionate group of people working in Islamic Banking at Standard Chartered Bank, who fundamentally want to make it easier to make a difference.

‘My Sadaqah’ is a culmination of various initiatives the team has been involved in and shows the team’s desire to engage and make a connection with our customers and the communities we operate in.

What makes you an intrapreneur? What are the skills, capabilities, and personality traits that make you an intrapreneur?

An intrapreneur is a person who sees something they want to do, or change, and does something about it. They do not let their day job or job description define them and quite simply see possibilities in everything.

They are not afraid to change the status quo, ask difficult questions, overcome obstacles and make a genuine positive impact on their surroundings.

About Your Organization
Company Country
Primary country where this project is creating social impact

, DU, Dubai

Additional countries or regions

In all the countries Standard Chartered Bank operates in where customers' have access to online banking.


Finance, Insurance, Real Estate

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Select the stage that best applies to your solution

Idea (you're poised to launch)

The Solution: Why is this solution innovative for your company and industry?

‘My Sadaqah’ is a facilitator and a single gateway which will allow the Bank’s customers to donate to multiple charitable causes as well as support individuals in our communities who seek micro-financing. No other Bank is offering this single gateway to their customers alongside their online banking platform.

What has been the impact of your solution to date?

To date we have decided to launch the project in two stages, first to get the online charitable donation platform live (slides attached for how the website will look like). The second stage requires further detailed analysis of microfinance fieldwork partners to identify micro-entrepreneurs and how to connect them to our customers.

What is your projected impact over the next 1 to 3 years?

Within the first year we would like to launch the online platform and see our customers donating to charities of their choice. In the second year to launch the micro-entrepreneur financing portion of the platform and by the third year to have an engaged customer base who are actively donating to charities and financing micro-entrepreneurs through their online ‘My Sadaqah’ account.

Furthermore, to track the progress of the impact this has on My Sadaqah recipients: charities and micro-entrepreneurs, success would be measured by the amount of contributions the recipient charities receive as well as the number of micro-entrepreneurs reached and the effect of the financing they have received has had on their life.

What barriers might hinder the success of your project? How do you plan to overcome them?

Lack of interest from our customers to use their ‘My Sadaqah’ account on their online banking platform. We plan to mitigate this by running marketing campaigns as well as providing offers such as to convert credit card points to US dollar equivalent amounts and credit them to customer’s online ‘My Sadaqah’ account and encourage them to choose a charity to donate to or a micro-entrepreneur to finance. Furthermore, by showing success stories of the effects on recipient charities and micro-entrepreneurs have had by ‘My Sadaqah’.

What is the benefit or value you're creating for your business?

My Sadaqah goes back to the roots of the Standard Chartered Bank’s ‘Here for good’ philosophy, emphasizing the commitment we have to the communities we operate in. As an emerging markets bank we are able to create a strong emotional connection and engage our customers and communities across our network countries and give a larger pool of people access to finance.

How are you leveraging internal resources (funds, time, knowledge, etc.) to support this initiative?

We are building on our existing online platform and expanding it to enable ‘My Sadaqah’. It is being developed with the support of the Consumer Banking, IT and Marketing teams from within the Bank, as we are tapping into our existing Islamic Banking customer base and online customer platform. Strong support has been received by the CEO of Islamic Banking and the Head of Islamic Banking for Consumer Banking in the UAE – both are critical for the launch of ‘My Sadaqah’.

Expand on your answer, explaining the long-term funding and support plan.

Long-term plan is for the ‘My Sadaqah’ to be an integral part of the existing online banking platform. The initial costs are for the set-up of the online platform and marketing it to our customers. The support will largely be focused on having a strong, accessible, easy-to-use platform and marketing it heavily to develop strong engagement with our customers. Costs incurred cannot be measured at the point of ‘breaking-even’, but instead by making it convenient to connect our customers with charities and micro-entrepreneurs on an ongoing basis.

Tell us about your partnerships across your company and externally that are key to your project's success.

'My Sadaqah' is being led by the Islamic Banking team in Dubai and currently we are working with Marketing and IT to develop the platform internally, as well charities externally to decide how they will be listed on the platform. In the second stage it is critical for us to partner with micro-finance fieldwork organisations to source micro-entrepreneurs and manage funding them.

What internal support have you gotten for your project? What kind of push-back have you received?

Critical support from the CEO of Islamic Banking as well as Islamic Banking Wholesale Banking and Consumer Banking teams have committed resources to the project. Islamic Banking Product head commitment to develop suitable Islamic microfinance products. Islamic Shariah scholar approval and desire to work on this project.