Known for his ability to read the market, Sajid Rahman, country head of consumer banking Standard Chartered Bank Indonesia, asserts that along the emergence of affluent individuals in Indonesia, the needs of consumer banking are on the rise. The consumer spending from emerging affluent segment in Indonesia has staggeringly increased from US$0.8 million in 2000 to US$30.2 million in 2010. “That’s a 37-fold increase!” Sajid exclaims excitingly. The top three categories of spending in this … [Read more...]