The service “is seamlessly accessible to all corporate clients via the bank’s online banking platform”, Straight2Bank, Standard Chartered said.
It said the service would enable its clients to save the unnecessary expense of currency conversions, as well as avoiding the inherent risks associated with fluctuating currency rates, a problem, it noted, that most traders face when dealing with trade partners outside of their economies”.
It said the service would permit its clients access international trade currencies “at a touch of a button”.
Ashutosh Kumar, Standard Chartered’s global head of corporate cash and trade product management, said the new service was a demonstration of the bank’s commitment toward facilitating the “burgeoning trade flow” between its clients in Asia, Africa, the Middle East and the rest of the world.
Haytham El Maayergi, Head of Transaction Banking UAE, Standard Chartered said: “Our corporate clients in UAE, Bahrain, Oman and Qatar as well as a number of other international markets in our footprint, will have immediate access to these product innovations, without incurring setup costs or installation delays – all via our secure online banking portal. This move comes in line with our continuous efforts to leverage the benefits of electronic enhancements to the benefit of our clients.”
Standard Chartered is listed on the London, Hong Kong and Mumbai stock exchanges, and operates out of 1,700 offices in 70 markets.
To view the Straight2Bank website, click here.
