British bank Standard Chartered announced today the official opening of a new representative office in Casablanca, Morocco, further growing its presence in the Middle East and North Africa region.
The move follows Bank Al-Maghrib’s approval of its license and the award of Casablanca Finance City (CFC) status by the Casablanca Finance City Authority.
The new office will be led by Cynthia El Asmar, who has been appointed CEO and Head of Coverage for Morocco pending regulatory approval. The company said in a press release that El Asmar has strong experience in client relations across the region and will lead the bank’s local strategy while building close relationships with Moroccan clients.
Standard Chartered says this step reflects the bank’s long-term commitment to supporting clients in fast-growing and globally connected markets. The bank said Morocco’s solid economy and strategic location make it an increasingly important player in international trade and investment.
Rola Abu Manneh, CEO for UAE, Middle East and Pakistan, commented: “Our global network, sector expertise and financing capabilities mean that Standard Chartered is uniquely positioned to support Morocco’s ambitious growth agenda.”
Meanwhile, Cynthia El Asmar said Morocco represents a bridge between Europe and Sub-Saharan Africa. “Structural reforms continue to improve the country’s capacity to attract FDI and enhance its overall competitiveness, leaving it well placed to benefit from any adjustment in trade flows or realignment in global supply chains,” she added.
This expansion in Morocco follows Standard Chartered’s recent launch of complete banking services in Egypt in 2024 and Saudi Arabia in 2021. The new office is expected to help the bank strengthen ties with international businesses, especially in agriculture, automotive, aerospace, and renewable energy sectors.
Standard Chartered has worked closely with Morocco’s banking sector for over 10 years. The statement concluded that the new representative office will help the bank deepen these partnerships and offer customised banking services to regional and international clients. Moroccan cuisine recipes
Headquartered in London, the multinational banking and financial services company operates in over 50 countries, mainly across Asia, Africa, and the Middle East.
