Casablanca: Standard Chartered marked a major milestone in its regional expansion with the official launch of its new Representative Office in Morocco, during an event held in the presence of high-level government officials, regulators, diplomats, clients and strategic partners.
The ceremony brought together distinguished attendees including Mr. Saïd Ibrahimi, Chief Executive Officer of Casablanca Finance City Authority, senior representatives of Bank Al-Maghrib, members of the diplomatic corps including His Excellency Alex Pinfield OBE, Ambassador of the United Kingdom to Morocco, and leaders from Morocco’s financial, industrial and investment sectors.
Representing Standard Chartered were Roberto Hoornweg, Chief Executive Officer, Corporate & Investment Banking; Rola Abu Manneh, Chief Executive Officer, UAE, Middle East & Pakistan; Mohamed Salama, Head of Coverage, UAE, Middle East and Pakistan; Abbas Hussain, Global Head, Infrastructure and Development Finance and other senior representatives from the Bank’s regional and global teams. Their presence reflected the strategic importance of Morocco within Standard Chartered’s international network.
Following regulatory approvals from Bank Al-Maghrib and the awarding of Casablanca Finance City status by the CFC Authority, the new Representative Office strengthens Standard Chartered’s footprint in the Middle East and Africa, complementing recent expansions in Egypt (2024) and Saudi Arabia (2021). The office will be led by Cynthia El Asmar, appointed Country Head & Head of Coverage, Morocco.
Commenting on the occasion, Rola Abu Manneh highlighted the Bank’s long-term commitment to the Kingdom: “Standard Chartered’s global network, sector expertise and financing capabilities position the Bank uniquely to support Morocco’s ambitious growth agenda. We are deeply grateful to Bank Al-Maghrib and Casablanca Finance City Authority for their support throughout this process. Today’s launch reinforces our commitment to connecting clients to high-growth markets across continents and supporting regional economic development.”
For Standard Chartered, Morocco represents a fast-rising hub for global trade and investment. With a strategic location at the intersection of Europe, Sub-Saharan Africa and the Middle East, the country is increasingly attracting long-term capital, industrial investment and supply-chain activity. Its economy grew 3.2% in 2024, with GDP forecasts trending toward 3.7% in the coming years, supported by major infrastructure projects and ongoing structural reforms.
Mr. Saïd Ibrahimi, Chief Executive Officer of Casablanca Finance City Authority, added: “I am very pleased to welcome Standard Chartered to Casablanca Finance City. Their arrival strengthens an already well-established community of banking and financial institutions at CFC, and it is excellent news for Africa’s fast-growing financial ecosystem. This sector plays a pivotal role in structuring investment flows across the continent. Choosing to set up in Morocco, and specifically in Casablanca, reaffirms the Kingdom’s strategic position as a leading platform to access African markets.”
Reflecting on the significance of Standard Chartered’s new presence, Cynthia El Asmar underscored the momentum shaping the Moroccan economy, stating: “Morocco’s geographic position and sustained reforms continue to enhance the country’s competitiveness and its ability to attract foreign investment. While we have built strong relationships with major Morroccan financial institutions over the past decade, establishing our Representative Office here consolidates our presence and allows us to support clients in sectors where Morocco is rapidly strengthening its position — in everything from automotive to renewable energy, to aeronautics and agro-industry.”
The new Representative Office will play a pivotal role in deepening partnerships and supporting local, regional and international clients expanding into or through Morocco. It will also facilitate greater cross-border connectivity, structured financing and access to the Bank’s global capabilities across 54 markets. The launch marks a new chapter in Standard Chartered’s engagement in Morocco and reinforces the Bank’s commitment to supporting sustainable economic development across the region. For more, click here.
Wasim Ben Khadra (WBK)
Cluster Head of Corporate Affairs, Brand and Marketing (CABM)
Standard Chartered
Email: Wasim.benkhadra@sc.com
Address: Dubai International Financial Centre
7th floor, Building One, Gate Precinct
PO Box 999, Dubai, UAE
www.sc.com
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