Standard Chartered Bank can truly accept the accolade of bank for the emerging markets. It has just received its banking licence in Afghanistan. The bank submitted documentation to the central bank in Afghanistan in June, and will be the first major international bank to open a branch in the country.
Standard Chartered will open its first branch in Kabul, and intends to offer commercial banking activities in Afghanistan. It expects initially to offer a range of general banking services including: deposit taking in US dollars and Afghani; facilitating international money transfers; and trade services on selected secured transactions.
David Edwards, regional general manager for the bank’s operations in the Middle East and South Asia, notes: “Standard Chartered’s strong global network and a long history of valued partnerships in this region are reflected in our growing business and investments. We are well placed to help provide assistance for the efficient flow of donor and aid funding, and for progressing rebuilding efforts of both the economy and the country for the benefit of the Afghan people.”