Banks Fintech Middle East & Africa

Standard Chartered Awarded Best Renminbi Bank in the UAE for the Second Year in a Row

Standard Chartered has been named the ‘Best Renminbi Bank’ in The UAE for the second consecutive year by financial magazine, The Asset. The Bank was also awarded the platform’s ‘Triple A Award’ across multiple markets for its outstanding work in renminbi (RMB) services, further solidifying its efforts in the sector.

The Asset commended Standard Chartered for its exceptional work in the renminbi field, citing the Bank as an undisputed leader globally in educating and encouraging the use of the renminbi internationally. The accolade was extended to Standard Chartered in recognition of its meaningful offerings in the sector, from cash management to securities services.

Mohamed Salama, Regional Head of Corporate, Commercial and Institutional Banking, Middle East and North Africa, said: “This industry recognition speaks volumes of Standard Chartered’s extensive proficiency in the renminbi field and is indicative of our longstanding presence across our markets in Asia, Africa and the Middle East. Our deep roots and rich heritage in this region give us an unrivalled breadth of perspective and depth of knowledge, allowing us to target an array of renminbi growth opportunities. We aim to continue leveraging our expertise in the renminbi field to respond to changing market conditions.”

Standard Chartered also received the title of Best Renminbi Bank in eight other markets across the globe. This includes Pakistan, South Africa, Nigeria, Hong Kong, Japan, the Philippines, Singapore and Thailand. In 2019, the bank was awarded the title in eight markets globally and three markets regionally, including the UAE, Nigeria, and Pakistan. This marks Standard Chartered’s second consecutive win in these markets.

The Asset is a top-tier multimedia company that directs curated content to the foremost financial professionals and C-suite executives on the Asian continent and beyond. The Asset ‘Triple A Awards’ look to recognise those that have excelled in their respective industry, distinguishing best-in-class organisations and highlighting the outstanding work of sector players.

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