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Standard Chartered Pakistan () is a Pakistani
Standard Chartered Pakistan
{{Authority control Banks of Pakistan Companies listed on the Pakistan Stock Exchange Standard Chartered Pakistani subsidiaries of foreign companies
Standard Chartered Pakistan () is a Pakistani banking
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets.
Because ...
and financial services
Financial services are the Service (economics), economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, acco ...
company in Pakistan and is a wholly-owned subsidiary of British multinational bank Standard Chartered
Standard Chartered plc is a multinational bank with operations in consumer, corporate and institutional banking, and treasury services. Despite being headquartered in the United Kingdom, it does not conduct retail banking in the UK, and around 9 ...
.
It is Pakistan's oldest and largest foreign commercial bank. It employs over 2,200 people in its 40 branches in 10 cities of Pakistan.
History
The history of Standard Chartered in Pakistan dates back to 1863, when theChartered Bank of India, Australia and China
The Chartered Bank of India, Australia and China (informally The Chartered Bank) was a bank incorporated in London in 1853 by Scotsman James Wilson, under a Royal Charter from Queen Victoria.
first established its operations in Karachi
Karachi (; ur, ; ; ) is the most populous city in Pakistan and 12th most populous city in the world, with a population of over 20 million. It is situated at the southern tip of the country along the Arabian Sea coast. It is the former cap ...
.
In 2006, Standard Chartered Bank
Standard Chartered plc is a multinational bank with operations in consumer, corporate and institutional banking, and treasury services. Despite being headquartered in the United Kingdom, it does not conduct retail banking in the UK, and around ...
acquired Pakistan's Union Bank. On 30 December 2006, Standard Chartered merged Union Bank with its own subsidiary, Standard Chartered Bank (Pakistan), to create Pakistan's sixth largest bank.
FinCEN
Standard Chartered was named in FinCEN leak, published byBuzzfeed News
''BuzzFeed News'' is an American news website published by BuzzFeed. It has published a number of high-profile scoops, including the Steele dossier, for which it was heavily criticized, and the FinCEN Files. Since its establishment in 2011, it ...
and the International Consortium of Investigative Journalists
The International Consortium of Investigative Journalists, Inc. (ICIJ), is an independent global network of 280 investigative journalists and over 140 media organizations spanning more than 100 countries. It is based in Washington, D.C. with pe ...
(ICIJ). It had four suspicious transactions flagged.
See also
* Banking in Pakistan *Union Bank (Pakistan)
Union Bank was a Pakistani bank based in Karachi, Pakistan. It was established in 1991 with its headquarters in Lahore, Pakistan. In 2000 the bank relocated its headquarters to Karachi.
Prior to the merger with Standard Chartered Bank in 2006, it ...
References
External links
Standard Chartered Pakistan
{{Authority control Banks of Pakistan Companies listed on the Pakistan Stock Exchange Standard Chartered Pakistani subsidiaries of foreign companies