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Monday, November 9 - 2009

Standard Chartered Bank launches new Wealth Management products

  • United Arab Emirates: Tuesday, June 10 - 2003 at 14:06
  • PRESS RELEASE

Standard Chartered Bank announced today the launch of a new category of Wealth Management products for its customers in the UAE.

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  • From left to right: Rabih Abdul Khalek - General MAnager of Gulf Alico, Ray Ferguson and Subroto Som at the press conference
    From left to right: Rabih Abdul Khalek - General MAnager of Gulf Alico, Ray Ferguson and Subroto Som at the press conference
Branded 'Harvester Plans', this innovative new savings and investment vehicle features three different plans for every stage of life, from saving for children's education to retirement plans.

These products have been sourced from two of the leading insurance companies in the world viz AIG & Zurich Financial Service Group, through their offices in the UAE. In order to offer these products to its customers, Standard Chartered has entered into distribution agreements with both these providers.

Ray Ferguson, Chief Executive of Standard Chartered Bank in the UAE, said at the launch, "We have added bancassurance to our portfolio of wealth management products which represents an important step forward in meeting customers needs. The Harvester Plans are part of our continuing efforts to tailor our product range to exactly what the customer requires, and ensure a prosperous and secure future for all. By providing this plan, I believe we are helping to instill a sense of financial long-term discipline among the consumers in the UAE,"

'FirstSteps™' is a savings and investment scheme aimed at helping young parents plan for their children's education.

'SafeSteps™' generates a cushion for the future, combining a saving plan with an insurance plan, to ensure financial security.

'SteadySteps™' allows for the creation of a pension via a one-time investment or regular savings.

Subroto Som, Regional Head of Consumer Banking, Standard Chartered Bank MESA, said: "These carefully combined products are highly sophisticated yet easy to understand. Each scheme provides for the future, with the added advantage of life assurance, a Standard Chartered Bank credit card and optional benefits such as additional death benefits and critical illness or total disability payments."

'FirstSteps™', 'SafeSteps™' and 'SteadySteps™' are set to redefine the way people save in the UAE.
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Notes and media contacts

For more information, visit http://www.standardchartered.com

(Disclaimer)
All applications in the plan chosen must be made on the application forms accompanying the prospectus. Investors should read the prospectus for full details. Past performance of funds is not necessarily a guide to future performance. Any forecast made is not necessarily indicative of future or likely performance of the funds. Investments in the funds are not deposits, or other obligations, or guaranteed, or insured by Standard Chartered Bank or their affiliates and are subject to investment risks, including the possible loss of the principal amount invested. The value of the units in the funds and the income from them may fall as well as rise. Funds denominated in foreign currency are subject to exchange rate fluctuation. Units are not available to U.S. persons.

The above figures are indicative and for illustration purposes only; terms and conditions apply. The actual benefit payable may vary. Buying a life insurance is a long-term commitment. An early termination of the policy usually involves high costs and the surrender value payable may be less than the total premiums paid. All insurance products and plans are underwritten by their respective insurance companies and not Standard Chartered Bank. Terms and conditions apply.

Standard Chartered Bank in the UAE
- In the UAE
Standard Chartered Bank has a Consumer Banking network comprising eight branches and 22 automated teller machines (ATMs). Standard Chartered is the leading provider of cash management trade finance, and treasury products and services in the UAE.

Standard Chartered Bank
- The world's leading emerging markets bank
Standard Chartered is the world's leading emerging markets bank. It employs nearly 29,000 people in over 500 offices in more than 50 countries in the Asia Pacific Region, South Asia, the Middle East, Africa, United Kingdom and the Americas.

The Bank serves both consumer and wholesale banking customers. Consumer Banking provides credit cards, personal loans, mortgages, deposit taking and wealth management services to individuals and small/medium sized businesses. The Wholesale Bank provides services to multinational, regional and domestic corporate and institutional clients in trade finance, cash management, custody, lending, foreign exchange, interest rate management and debt capital markets.

With 150 years in the emerging markets the Bank has unmatched knowledge and understanding of its customers in its markets.

Standard Chartered recognises its responsibilities to its staff and to the communities in which it operates.

For further information please contact:
Aida Hamza,
Head of Corporate Affairs,
Standard Chartered Bank,
UAE
Tel: +971 4 507 0666
Fax: +971 4 359 4174

For press information contact:
Will Rankin,
MCS/Action,
PO Box 20970,
Dubai, UAE.
Tel: +971 4 3902960
Fax: +971 4 3908161

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