2 days ago
Standard Chartered launches its direct custody services in Egypt - Economy
Standard Chartered has announced the launch of its direct custody services in Egypt, marking a significant expansion of its global post-trade network across the Middle East and North Africa (MENA) region, the international banking group said in a statement on Wednesday.
The move aims to strengthen regional capital flows and enhance investor access to Egypt's growing financial markets.
The launch builds on the bank's earlier introduction of custody services in Saudi Arabia this year and reflects its strategy to deepen its footprint in high-growth, strategically important markets.
Operated through Standard Chartered Egypt, the service enables institutional clients to hold and manage a variety of securities with greater efficiency, transparency, and security.
The offering covers equities, treasury bills, government bonds, and corporate bonds and includes safekeeping, settlements, and corporate action services.
Clients can access these through multiple channels, including the bank's globally recognized Straight2Bank (S2B) platform.
Mohammed Gad, CEO of Standard Chartered Egypt, described the launch as a key milestone in the bank's efforts to strengthen Egypt's financial infrastructure and expand investor access to the region.
'Egypt is a vital market for us, not only as a new BRICS member, but as a rising investment hub linking Africa, the Gulf, and beyond,' Gad said.
'By introducing direct custody services from day one, we are providing institutional clients with greater speed, transparency, and operational efficiency. Backed by our global platform and deep local expertise, this offering will help unlock capital flows into Egypt and support the growth of a more resilient, connected capital market.'
The custody service is fully licensed by the Financial Regulatory Authority and approved by the Central Bank of Egypt.
Standard Chartered said the move aligns with Egypt's wider ambitions to modernize its financial ecosystem, attract foreign direct investment, and diversify sources of capital under Vision 2030.
According to the bank, growing interest from investors across Asia, the Gulf, and Africa makes this an opportune moment to offer institutional-grade post-trade solutions in Egypt.
Scott Dickinson, regional head of Financing and Securities Services for Africa and the Middle East, emphasized the bank's commitment to enhancing market access in emerging economies.
"Standard Chartered's expanding custody footprint across the region underlines our commitment to supporting capital markets in key emerging economies,' Dickinson said.
'By improving investor access, raising service standards, and helping attract long-term capital, we continue to play a leading role in connecting global investment to opportunity across MENA,' he added.
With Egypt now part of the bank's custody network, Standard Chartered is positioned to facilitate smoother cross-border investment flows, reinforcing its role as a bridge between global investors and one of the region's most dynamic markets.
Standard Chartered Bank officially commenced its banking operations in the Egyptian market in January 2024.
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