Standard Chartered Bank announced yesterday the successful issuance of $170 million in deposit certificates through its branch located in the Dubai International Financial Centre, regulated by the Dubai Financial Services Authority.
This issuance was conducted under the bank’s UK-based electronic deposit certificates and commercial papers program, marking a significant step in reinforcing the UAE’s position as an international hub for liquidity and cross-border capital flows. The issuance plays a vital role in Standard Chartered’s efforts to leverage the Dubai Financial Centre as part of its global financing and treasury management strategy.
The new certificates will help expand the short-term funding base and enhance access to liquidity from both regional and international sources, highlighting the growing role of the UAE in connecting global financial markets and facilitating capital movements between Asia, the Middle East, Africa, and Europe.
Kamel Al-Zoghbi, Head of Treasury Markets for the Middle East, North Africa, and Pakistan at Standard Chartered, stated that this issuance represents the first step in a broader initiative for the bank in the region. He emphasized the bank’s ongoing commitment to strengthening its funding structure and broadening access to global liquidity, enabling efficient short-term financing operations through the Dubai Financial Centre.
Additionally, this will allow tapping into a diverse pool of regional and international investors, aligning with the UAE’s vision of establishing itself as a connector between global capital markets and the world’s fastest-growing economies.
This issuance reaffirms Standard Chartered’s strong confidence in the UAE as a global financial center and reiterates its commitment to supporting the nation’s vision for sustainable growth, innovation, and economic integration on an international scale.