Standard Chartered Bank has launched regional custody services for investors and intermediaries in the Middle East.
Standard Chartereds new offering will give customers a single entry point to access custody services in multiple markets. The group says that the key benefits include a single point of contact; single contract and consolidated reporting for multiple markets through one provider.
Our regional custody hub currently caters for 26 countries and we are continuously expanding our coverage to meet customer demand, says Stewart Adams, Regional Head of Investors and Intermediaries at Standard Chartered MENA. The regional custody offering aims to facilitate client access to regional and global markets, leveraging our footprint across the worlds most dynamic markets. It is also a clear indication of our commitment to our brand promise: Here for Good Here for Clients.
Custody services play an integral role in the development of capital markets by providing securities market access to investors. This covers a range of services including equity and fixed income securities settlements, safekeeping, corporate actions, income and entitlements collection, cash management, reporting, and information services to clients.
The regional custody product offering from our DIFC Branch adopts best international practice and comes with our award-winning Straight2Bank internet platform, a web-based electronic portal, which gives clients on-demand access to comprehensive transactional and reporting capabilities, says Shikkoh Malik, Regional Product Head of Investors & Intermediaries, MENA.
Standard Chartered has operated in the Middle East for more than 90 years, with a presence across the region. Out of its office in the Dubai International Financial Centre (DIFC), the Bank runs the largest trading floor in the Middle East region and is an active player in developing an Arab talent pool capable of leading the bank and the industry in general.
(LB)