Standard Chartered has continued its focus on strengthening its network of custodial services in the Mena region, following the launch of its custody services in Jordan earlier this year.

The move makes Standard Chartered the only international bank to offer custodial services in the Kingdom, a statement said.

Ahmed Abu Eideh, chief executive officer, Standard Chartered Bank Jordan said: “We have been operating in Jordan for more than 89 years and the launch of custodial and clearing services further emphasises the Bank's commitment to the Kingdom.”

“Standard Chartered's extensive experience and history in the region allows us to provide both local knowledge and global expertise to support our clients' operations. Custody Services in Jordan is another important milestone in our strategy to embed our securities services capabilities in Jordan."

Stewart Adams, regional head of Investors and Intermediaries Services in MenaP at Standard Chartered Bank, said: “Our global custody platform was implemented in Jordan to support the demand from our existing global and regional clients. We continue to invest in our systems and human resources to keep pace with the growing demand for world class custodial services.”

Custody plays an integral role in the development of capital markets by providing the securities market access to investors. This covers a range of services including equity and fixed income securities settlements, safekeeping, corporate actions, income and entitlements collection, cash management, reporting, and information services to clients.

Standard Chartered’s custody offering gives customers a single entry point to access custody services in multiple markets.

The key benefits include a single point of contact, multiple services across multiple markets, direct access to operational support and centralised client services from within the region and the same time zone, unique coverage through on-shore presence and carefully selected third party agents. – TradeArabia News Service