British multinational bank Standard Chartered Plc has announced the opening of a representative office in Morocco. The move, foreshadowed in April, follows regulatory approval from Bank Al-Maghrib and the granting of Casablanca Finance City (CFC) status by the Casablanca Finance City Authority, the bank said in a press release on Thursday. The new office will provide tailored financial solutions to multinational and regional clients and will be led by Cynthia El Asmar, appointed CEO and Head of Coverage for Morocco. With extensive experience in client coverage across the region, El Asmar will oversee the bank's local strategy and strengthen client relationships. «Our global reach, sector expertise, and financing capabilities position Standard Chartered uniquely to support Morocco's ambitious development plans», said Rola Abu Manneh, CEO for the UAE, Middle East, and Pakistan. «Morocco's strategic location as a gateway between Europe and Sub-Saharan Africa, along with ongoing structural reforms, makes it an increasingly attractive destination for foreign direct investment and global supply chain realignment», added Cynthia El Asmar. In Africa, Standard Chartered also operates in Egypt and South Africa.
