Standard Chartered has launched direct custody services in Egypt, reports Finance Feeds. The move, which mirrors the introduction of custody services in Saudi Arabia earlier this year, is a part of the bank’s efforts to expand its post-trade network in the Middle East and North Africa.
Operated through Standard Chartered Bank Egypt, the service encompasses safekeeping, settlement, and corporate actions for equities and treasury bills, as well as government and corporate bonds. Clients will be able to access the service through various channels, including the bank’s Straight2Bank platform.
Finance Feeds quotes Mohammad Gad, CEO of Standard Chartered Egypt, who believes that the launch will help “strengthen Egypt’s financial infrastructure and expand investor access across the region”. He says, “This offering will help unlock capital flows into Egypt and support the growth of a more resilient, connected capital market.”
