Standard Chartered's Group Head of Transaction Banking launches Web Bank Trade at EuroFinance 2006

The decision will be announced by one of Standard Chartered's most senior managers, Singapore-based Karen Fawcett, Group Head of Transaction Banking, who is due in Dubai to maximise the bank's support for the prestigious EuroFinance Conference 2006, taking place on 14 and 15 March.

As a major official sponsor of EuroFinance 2006, the fourth annual conference on trade, treasury and cash management in the Middle East, Standard Chartered aims to highlight its market-leading position in international trade finance to more than 300 attendees at the event.

"Standard Chartered Bank offers a sophisticated range of cash management solutions," said Karen. "Our innovations have resulted in a number of accolades for the Bank, including EuroMoney's Best in Cash Management Award in the Middle East for two consecutive years.

"Web Bank Trade is the latest innovation designed to maintain our leadership position in transaction banking,"

Ms Fawcett added.

"Our sponsorship of EuroFinance 2006, plus the introduction of Web Bank Trade, emphasizes how importantly we view the UAE market, and how committed Standard Chartered is to ensuring it provides the finance solutions clients in this region demand."

EuroFinance Conferences, an Economist Group business, is the world leader in global and regional cash and treasury management events for finance professionals. It attracts the most senior professionals in the sector and is renowned for its innovative and cutting-edge programmes.

"The EuroFinance Conference will look at opportunities and the fast-paced developments taking place in the Middle East. It will cover how to manage, regionally and internationally, to achieve optimal management of cash, trade, liquidity and risk," said John Iossifidis, Regional Head of Client Relationships, Middle East and South Asia, Standard Chartered Bank.

"EuroFinance 2006 is the ideal platform to unveil Web Bank Trade. The service will be launched in the UAE in April, and provides superior levels of convenience, security, effectiveness as well as a comprehensive platform to integrate the Bank's web-based system into clients' business workflow," added John.

Eventually, Web Bank Trade will add value to trade business and corporate clients throughout the Middle East and South Asia. It acts as one consolidated channel for trade transactions and global business transactions integrated with web based cash management solutions.

Azeem-ur-Rahim, Regional Head of Transaction Banking, Middle East and Pakistan, Standard Chartered Bank, said:

"Web Bank Trade simplifies the process of preparing, transmitting and monitoring a trade transaction, with the flexibility to create templates designed around business processes. It is accessible from any personal PC and gives remote offices and subsidiaries accessibility to a trade banking platform".

The new service offers accessibility to information on transactions whenever needed. In addition, restricted access maintains control over sensitive info based on client defined parameters.