Standard Chartered expands services

The Standard Chartered bank announced on March 29 it was providing a full rage of securities services including custody and clearing, fund and escrow to institutional investors in Vietnam.
The Standard Chartered bank announced onMarch 29 it was providing a full rage of securities services includingcustody and clearing, fund and escrow to institutional investors inVietnam .

As the global economic recovery was now well underway with emergingAsian markets playing a significant role, Vietnam provided andexciting investment opportunity for both local and internationalinvestors, the bank said in a press release.

Standard Chartered Bank Vietnam aims to support investors betterthrough their comprehensive securities services, as their clients striveto manage new fund flows to Vietnam more efficiently andeffectively.

Custody and clearing services will be provided to both domestic andoffshore funds while fund services will be available to domestic fundsin conjunction with supervisory services.

Since 2000, Standard Chartered Bank has been one of the top providersof custody/sub-custody services for foreign institutional investors inVietnam .

Additionally, the fund services are specifically developed to offercustomers the flexibility of extensive reporting facilities along withsupervisory bank services.

This service would cover fund accounting, valuation of investments,compliance monitoring ad financial reporting for internal and regulatoryrequirements, the bank said.

In escrow services, the bank would act as a neutral and reputablethird-party administrator that holds the assets of the parties in theunderlying transaction in Escrow Accounts (separate Escrow Account foreach Escrow Transaction).

The bank would safeguard both parties by ensuring delivery ofassets/each/documents only when all prescribed and agreed conditionswere fulfilled.

“The introduction of full securities services reaffirms our continuedcommitment to serve both new clients and existing ones in the country.With these comprehensive services, we offer a one-stop shop forinstitutional investors like insurance companies, asset managementcompanies and fund managers,” said Haroon Anwar, country head ofTransaction Banking./.

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