“Standard Chartered” officially inaugurates its representative office in Morocco

The event took place in the presence of senior government officials, regulators, diplomats, clients, strategic partners and influential leaders from the financial, industrial and investment sectors, Standard Chartered said in a statement.

Following regulatory authorizations from Bank Al-Maghrib and the granting of Casablanca Finance City status by the CFC Authority, this office strengthens Standard Chartered’s presence in the Middle East and Africa and continues the bank’s recent expansions in Egypt in 2024 and Saudi Arabia in 2021, the same source noted, adding that the office will be headed by Cynthia El Asmar, appointed Country Chief Executive Officer and Head of Morocco.

On this occasion, the Chief Executive Officer for the United Arab Emirates, the Middle East and Pakistan, Rola Abu Manneh, reaffirmed the Bank’s commitment to the Kingdom.

“Grâce à son réseau mondial, à son expertise sectorielle et à ses capacités de financement, Standard Chartered dispose d’atouts uniques pour accompagner les ambitions de croissance du Maroc”, said Ms. Abu Manneh, thanking Bank Al-Maghrib and the Casablanca Finance City Authority for their support throughout the process.

“Cette inauguration confirme notre volonté d’ouvrir davantage l’accès de nos clients aux marchés à forte croissance, et de contribuer au développement économique régional”, she stressed.

Standard Chartered considers Morocco a strategic hub on the rise for global trade and investment. Located at the crossroads of Europe, Sub-Saharan Africa and the Middle East, the Kingdom is attracting a growing share of long-term capital, industrial investments and opportunities related to international value chains.

For his part, the Chief Executive Officer of Casablanca Finance City Authority, Saïd Ibrahimi, affirmed that the arrival of Standard Chartered within CFC strengthens an already solid financial ecosystem and represents excellent news for the development of the sector in Africa.

“L’implantation de Standard Chartered à Casablanca confirme une nouvelle fois le positionnement stratégique du Maroc comme plateforme incontournable pour accéder aux marchés du continent”, he said.

Reflecting on the significance of this opening, Ms. El Asmar noted that Morocco’s geographical position and the continuation of reforms continually reinforce its attractiveness for international investors.

“Après une décennie de coopération solide avec les principales institutions financières marocaines, l’ouverture de notre bureau nous permet désormais d’accompagner plus étroitement nos clients dans les secteurs où le Maroc consolide rapidement sa présence : l’automobile, les énergies renouvelables, l’aéronautique ou encore l’agro-industrie”, she added.

This new representative office will play a key role in strengthening partnerships, supporting local, regional and international clients, and enhancing cross-border connectivity and structured financing. It will also facilitate access to Standard Chartered’s global capabilities across its 54 markets. This opening marks a new stage in the Group’s commitment in Morocco and confirms its ambition to support sustainable economic development in the region.

The event was attended by the United Kingdom’s Ambassador to Morocco, Alex Pinfield Obe. Standard Chartered was represented by Roberto Hoornweg, Chief Executive Officer, Corporate and Investment Banking, Mohamed Salama, Regional Head, Abbas Hussain, Global Head of Infrastructure and Development Finance, as well as members of the bank’s regional and global teams.

Editorial team/le7tv