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Standard Chartered introduces International Banking in Uganda

Standard Chartered introduces International Banking in Uganda

A game-changer for global financial access (Courtesy photo)

Standard Chartered Bank has unveiled its International Banking (IB) services, marking a significant leap towards enhancing global financial access for Ugandan clients. The launch ceremony, graced by Minister Jeje Odongo and CEO Sanjay Rughani, symbolized a pivotal moment for the nation’s banking sector.

International Banking brings forth a new era, enabling Ugandans to seamlessly conduct banking transactions across borders without the need to physically travel. Standard Chartered’s IB platform connects clients to a network spanning over 20 countries, including major financial hubs like the United Arab Emirates and the United Kingdom.

Sanjay Rughani, Chief Executive Officer of Standard Chartered Bank Uganda, emphasized the strategic importance of IB, underscoring its role in meeting the evolving needs of Ugandan clients.

He highlighted the tailored solutions and expanded product offerings aimed at positioning clients for success on the international stage.

For the first time in Uganda, both retail and corporate clients have access to comprehensive international banking services, representing a monumental shift in the country’s financial landscape. Agnes Umutoni, Head of Retail Products and Client Experience, highlighted the newfound opportunities for Ugandans to expand their operations globally, aptly labeling IB as the “Gateway to the World.”

Moreover, IB opens doors for Ugandans seeking Islamic banking services, previously limited by accessibility constraints, to access them through foreign branches such as Jersey. Paul Sefa-Badu, Head of Consumer, Private, and Business Banking, emphasized the multitude of benefits offered by IB, including international wealth management and seamless global fund transfers.

Gen Jeje Odongo commended the bank for introducing a product that facilitates sophisticated investment solutions and seamless overseas banking for Ugandan clients.

He stressed the growing demand for wealth advisory services amid Uganda’s economic growth trajectory, urging Standard Chartered to continue providing tailored financial advice to both individual and corporate clients.

The launch of IB services underscores Standard Chartered’s commitment to fostering financial inclusion and empowering Ugandans to navigate the global financial landscape with confidence.

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