Standard Chartered Bank Launches Custody Services in the Middle East
Standard Chartered Bank has launched regional custody services for investors and intermediaries in the Middle East. The new offering will give customers a single entry point to access custody services in multiple markets. The key benefits include a single contract and consolidated reporting for multiple markets through one provider.
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.
Shikkoh Malik, regional product head of investors and intermediaries, Standard Chartered Middle East and North Africa (MENA), added: “The regional custody product offering from our DIFC [Dubai International Financial Centre] 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. With the state-of-art technology, highly experienced staff and extensive service coverage, we are well positioned to offer best in class custody services to our clients.”