Latest news with #CynthiaElAsmar
Tahya Masr
15-05-2025
- Business
- Tahya Masr
Standard Chartered opens representative office in Morocco
Standard Chartered today announced the opening of its new representative office in Morocco, further expanding its footprint across the Middle East and North Africa region. The launch follows the licence approval from Bank Al-Maghrib and the award of the Casablanca Finance City status by the Casablanca Finance City Authority. The representative office will be led by Cynthia El Asmar, who has been appointed CEO and Head of Coverage for Morrocco, subject to regulatory approvals. She brings extensive experience in client coverage across the region and will be responsible for driving the Bank's local strategy and deepening client relationships. This expansion underscores Standard Chartered's long-term commitment to the region and reflects its strategy of supporting clients in high-growth, internationally connected markets. Morocco's strong economic fundamentals and strategic location position it as an increasingly important destination for global trade and investment. Rola Abu Manneh, Chief Executive Officer, UAE, Middle East and Pakistan said: 'Our global network, sector expertise and financing capabilities mean that Standard Chartered is uniquely positioned to support Morocco's ambitious growth agenda. We would like to extend our sincere gratitude to Bank Al-Maghrib and the Casablanca Finance City Authority for their invaluable support in enabling the successful opening of our representative office. This launch reinforces our commitment to connecting clients to high-growth markets across continents and supporting regional economic development.' Cynthia El Asmar, CEO and Head of Coverage for Morocco added: 'Morocco's location positions it favourably as a bridge between Europe and Sub-Saharan Africa. Structural reforms continue to improve the country's capacity to attract FDI and enhance its overall competitiveness, leaving it well placed to benefit from any adjustment in trade flows or realignment in global supply chains. We are delighted to establish our office in Morocco and are ready to support our clients capture the many growth opportunities the country has to offer.' Standard Chartered's new representative office Morocco follows the launch of a fully-fledged banking operation in Egypt in early 2024 and Saudi Arabia in 2021. The office will enable Standard Chartered to broaden and deepen relationships with international businesses, particularly in the agro-industrial, automotive, aeronautics, and renewable energy sectors . Morocco is the sixth largest economy in Africa. Its economy expanded 3.2 percent in 2024 and GDP growth is expected to increase to around 3.7 percent over the next few years. This is supported by a new series of infrastructure projects and the continued implementation of the country's structural reform agenda . Over the past decade, Standard Chartered has collaborated closely with the banking sector in Morocco, developing strong relationships with all major players. The representative office will serve as a platform to deepen those partnerships and deliver tailored banking solutions to multinational and regional clients.
Morocco World
15-05-2025
- Business
- Morocco World
British Bank Standard Chartered Officially Opens Representative Office in Morocco
Rabat – British bank Standard Chartered announced today the official opening of a new representative office in Casablanca, Morocco, further growing its presence in the Middle East and North Africa region. The move follows the approval of its license by Bank Al-Maghrib and the award of Casablanca Finance City (CFC) status by the Casablanca Finance City Authority. The new office will be led by Cynthia El Asmar, who has been appointed CEO and Head of Coverage for Morocco, pending regulatory approval. El Asmar has strong experience in client relations across the region and will lead the bank's local strategy while building close relationships with clients in Morocco, said the company in a press release. This step, Standard Chartered says, reflects the bank's long-term commitment to supporting clients in fast-growing and globally connected markets. The bank said Morocco's solid economy and strategic location make it an increasingly important player in international trade and investment. Rola Abu Manneh, CEO for UAE, Middle East and Pakistan, commented: 'Our global network, sector expertise and financing capabilities mean that Standard Chartered is uniquely positioned to support Morocco's ambitious growth agenda.' Meanwhile, Cynthia El Asmar said that Morocco represents a bridge between Europe and Sub-Saharan Africa. 'Structural reforms continue to improve the country's capacity to attract FDI and enhance its overall competitiveness, leaving it well placed to benefit from any adjustment in trade flows or realignment in global supply chains,' she added. This expansion in Morocco follows Standard Chartered's recent launch of full banking services in Egypt earlier in 2024 and in Saudi Arabia in 2021. The new office is expected to help the bank strengthen ties with international businesses, especially in sectors like agriculture, automotive, aerospace, and renewable energy. Standard Chartered has worked closely with Morocco's banking sector for over 10 years. The new representative office will help the bank deepen these partnerships and offer customized banking services to regional and international clients, concluded the statement. Headquartered in London, the multinational banking and financial services company operates in over 50 countries, mainly across Asia, Africa, and the Middle East. Tags: bankMoroccoStandard Chartered
Zawya
15-05-2025
- Business
- Zawya
Standard Chartered opens representative office in Morocco
Subject to regulatory approvals, Cynthia El Asmar appointed CEO and Head of Coverage Casablanca, Morocco – Standard Chartered today announced the opening of its new representative office in Morocco, further expanding its footprint across the Middle East and North Africa region. The launch follows the licence approval from Bank Al-Maghrib and the award of the Casablanca Finance City status by the Casablanca Finance City Authority. The representative office will be led by Cynthia El Asmar, who has been appointed CEO and Head of Coverage for Morrocco, subject to regulatory approvals. She brings extensive experience in client coverage across the region and will be responsible for driving the Bank's local strategy and deepening client relationships. This expansion underscores Standard Chartered's long-term commitment to the region and reflects its strategy of supporting clients in high-growth, internationally connected markets. Morocco's strong economic fundamentals and strategic location position it as an increasingly important destination for global trade and investment. Rola Abu Manneh, Chief Executive Officer, UAE, Middle East and Pakistan said: 'Our global network, sector expertise and financing capabilities mean that Standard Chartered is uniquely positioned to support Morocco's ambitious growth agenda. We would like to extend our sincere gratitude to Bank Al-Maghrib and the Casablanca Finance City Authority for their invaluable support in enabling the successful opening of our representative office. This launch reinforces our commitment to connecting clients to high-growth markets across continents and supporting regional economic development.' Cynthia El Asmar, CEO and Head of Coverage for Morocco added: 'Morocco's location positions it favourably as a bridge between Europe and Sub-Saharan Africa. Structural reforms continue to improve the country's capacity to attract FDI and enhance its overall competitiveness, leaving it well placed to benefit from any adjustment in trade flows or realignment in global supply chains. We are delighted to establish our office in Morocco and are ready to support our clients capture the many growth opportunities the country has to offer.' Standard Chartered's new representative office Morocco follows the launch of a fully-fledged banking operation in Egypt in early 2024 and Saudi Arabia in 2021. The office will enable Standard Chartered to broaden and deepen relationships with international businesses, particularly in the agro-industrial, automotive, aeronautics, and renewable energy sectors. Morocco is the sixth largest economy in Africa. Its economy expanded 3.2 percent in 2024 and GDP growth is expected to increase to around 3.7 percent over the next few years. This is supported by a new series of infrastructure projects and the continued implementation of the country's structural reform agenda. [1] Over the past decade, Standard Chartered has collaborated closely with the banking sector in Morocco, developing strong relationships with all major players. The representative office will serve as a platform to deepen those partnerships and deliver tailored banking solutions to multinational and regional clients. For further information, please contact: Wasim Benkhadra Head of Communications, UAE, ME & Pakistan and Africa Corporate & Investment Banking Communications Lead Standard Chartered About Standard Chartered We are a leading international banking group, with a presence in 53 of the world's most dynamic markets. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good. Standard Chartered PLC is listed on the London and Hong Kong stock exchanges. For more stories and expert opinions please visit Insights at Follow Standard Chartered on X, LinkedIn, Instagram and Facebook. [1] April 2025: IMF 2025 ARTICLE IV.
