Standard Chartered today announced the launch of its new representative office in Morocco, further expanding its footprint throughout the Middle East and the North African region.
The launch follows the approval of the license by Al-Maghrib Bank and the Canadian city award of Casablanca Finance City since the Casablanca Finance Authority.
The representative office will be guided by Cynthia El Asmar, who has been appointed CEO and head of Morocco coverage, without prejudice to regulatory approvals. It offers extensive experience in covering customers throughout the area and will be responsible for driving the bank’s local strategy and deepening relationships with customers.
This expansion highlights Standard Chartered’s long -term commitment to the region and reflects the strategy of supporting customers in high -growth, internationally linked markets. Moroccan’s powerful key elements and the strategic position of his position are an increasingly important destination for global trade and investment.
Rola Abu Manneh, Managing Director, Emirates, Middle East and Pakistan, said:
“The global network, sector know -how and funding opportunities mean that Standard Chartered is uniquely positioned to support the ambitious Moroccan development agenda. Support for regional economic development.”
Cynthia El Asmar, CEO and head of Morocco coverage added:
“The position of Morocco is favorable as a bridge between Europe and the sub -Saharan Africa. Structural reforms continue to improve the country’s ability to attract FDI and enhance its overall competitiveness, leaving the country’s supply.
Standard Chartered’s new representative office follows the launch of a complete banking enterprise in Egypt in early 2024 and Saudi Arabia in 2021, the office will allow standardized sealing and deepening international businesses, especially in agrarian, automatic, car and aeronautics.
In the last decade, Standard Chartered has worked closely with the banking sector in Morocco, developing strong relationships with all major players. The representative office will serve as a platform to deepen these partnerships and deliver customized banking solutions to multinational and regional customers.