Standard Chartered Bank denies shutting down operations in Pakistan

ISLAMABAD –  The Standard Chartered Bank has denied reports of closing operations in Pakistan.

The bank in a recent tweet denied all such reports, saying, “The news published in Daily Jasarat is false and we completely deny this news.”

The tweet added that Standard Chartered has been operating in  Pakistan for over 150 years and is absolutely committed to the country.

"We are very proud to serve our clients in this country," the bank’s official account said.

The news published in Daily Jasarat is false and we completely deny this news. Standard Chartered has been operating in Pakistan for over 150 years and is absolutely committed to the country. We are very proud to serve our clients in this country. ~AS

— Standard Chartered (@StanChart) July 7, 2019

Earlier, reports were circulating on social media that the SCB is going to close its operations in Pakistan.

There were rumours that the bank has decided to transfer the accounts of its customers to Habib Bank.

Standard Chartered Bank Pakistan Ltd. is the oldest and largest international bank in Pakistan. It is also the first international bank to be awarded Islamic banking licence and the first to open an Islamic banking branch.

The Bank, which started as the Chartered Bank opened its first office in Karachi in March 1863.

It serves both Retail and Corporate and Institutional Banking customers.

The Bank employs over 3,400 people in  Pakistan and has a network of 68 branches in 11 cities.