Standard Chartered has notified thousands of UAE small and medium enterprise customers it is closing their accounts as it responds to pressure from US regulators to cut its risks following an anti-money laundering settlement.
GCC economies are perusing investments in the right direction, addressing infrastructure needs and investing in sectors that will create more opportunities in the long run, a report said.
Economic dynamics in Mena region are incre
Standard Chartered Plc has suspended some of its Hong Kong banking operations, including over-the-counter services and cheque deposits, until further notice due to "situations in certain areas", the Asia-focused lender said on Monday.
Standard Chartered has continued its focus on strengthening its network of custodial services in the Mena region, following the launch of its custody services in Jordan earlier this year.
The move makes Standard Chartered the only
Leading global bank Standard Chartered will be organising the second edition of its 'UAE National Job Fair' on September 25 in Dubai.
To be held at the Diamond Ballroom 1 and 2 , the Address Dubai Mall, the job fair is in
Standard Chartered is aiming to sell part of its business in the UAE after it agreed to close some accounts there in an anti-money laundering settlement with U.S. authorities, two sources familiar with the plan said.
Under the set
Standard Chartered on Thursday said it would work with regulators after the UAE central bank warned it could face legal action after agreeing to close some customers' UAE accounts in an anti-money laundering settlement.
Standard Chartered is liable to legal action in the UAE after it agreed to close some customers' UAE accounts in an anti-money laundering settlement with US regulators, the UAE central bank said on Thursday.
Under the settleme
Standard Chartered Private Equity (SCPE) announced today (August 20) the acquisition of a minority stake in UAE-based Topaz Energy and Marine (Bermuda), a leading offshore support vessel operator, through an equity investment of $75 million.
Standard Chartered will soon begin sifting through a mountain of data for signs of possible money laundering or other criminal activity, as a result of faults in the software critical to its anti-money laundering compliance program, two sources