Standard Chartered launches direct custody service in the Kingdom of Saudi Arabia

Standard Chartered announced a further expansion of its Middle East product capabilities with direct custody services in Saudi Arabia. This milestone offering will be under Standard Chartered Capital Saudi Arabia, a wholly owned subsidiary of Standard Chartered Group, licensed by Capital Market Authority of Saudi Arabia.

The service, which enables clients to safekeep their financial assets, positions Standard Chartered as the leading full-suite services provider for post trade products in Saudi Arabia.  Leveraging the Bank’s regional expertise, global custody infrastructure and innovative technology, a team of dedicated local experts will provide direct custody services to clients, supported by Standard Chartered’s centre of excellence for global processing hubs.

Sarah Al Khelaiwi, Chief Executive Officer and Head of Capital Markets, Standard Chartered Capital, said: “With a well-established track record as the leading custodian across MENA, our best-in-class product capabilities are trusted by regulators both in the Middle East and worldwide. The expansion of direct custody in Saudi Arabia positions Standard Chartered as a one-stop-shop for custody, asset servicing and market advocacy, reflecting our strong commitment to supporting investment activities in dynamic, increasingly more sophisticated markets through financial services infrastructure.”