By Sam Bridge
Standard Chartered says move is 'testament to confidence in the UAE's position as a global business hub'
Standard Chartered has announced the opening of a new representative office in the UAE at the Abu Dhabi Global Market (ADGM).
The newly opened office will serve as an "important touchpoint" for enterprises that are looking to access a wide variety of financial services, Standard Chartered said in a statement.
Rola Abu Manneh, CEO of Standard Chartered UAE, said: “The UAE continues to be a strategic market for us and our new office at ADGM is an additional step in bringing us closer to our clients in Abu Dhabi and across the Emirates.
"This milestone is also a testament to our confidence in the UAE’s position as a global business hub and will aim to further support in the progression of Abu Dhabi’s economic development.”
She added: “Through the establishment of this new location, Standard Chartered will continue to support the UAE’s growth and development as a robust financial hub. Furthermore, the bank will be able to provide numerous financial services to a wide range of international, local, corporate and institutional clients that are looking to develop regional treasury and liquidity management centres in the UAE.”
With over six decades in the UAE, Standard Chartered said it has committed its portfolio of financial resources to reinforcing the UAE’s position as a thriving investment hub.