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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Standard Chartered is preparing to close the accounts of its customers in the UAE

    Rocky
    Rocky
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    Standard Chartered is preparing to close the accounts of its customers in the UAE  Empty Standard Chartered is preparing to close the accounts of its customers in the UAE

    Post by Rocky Mon 20 Oct 2014, 10:39 am

    Standard Chartered is preparing to close the accounts of its customers in the UAE 



    Bank informed “Standard Chartered” thousands of clients from small businesses and medium-sized businesses in the UAE, he will close their accounts in the context of its response to the pressures of the American regulatory authorities to reduce risks in the wake of the settlement relating to money-laundering concern.
     The bank sent a runway in the London Stock Exchange, a letter to clients dated Baltasa of October in which he says: “We regret to inform you that Standard Chartered Bank will not be able anymore to provide banking services to you and that your accounts will be closed after 30 days from the date of this letter.”
    And angered the message seen by “Reuters”, Emirati customers who say that he did not allow them enough time to close their accounts.
     Under the settlement have been agreed with the Department of Financial Services in New York state in August, was fined the bank $ 300 million and give him 90 days to finish his prayers companies small and medium-sized high-risk in the UAE and to stop direct payments denominated in dollars, to calculate some customers in his unit in Hong Kong.
     He said the Central Bank of the UAE in August, is expected to be affected by the settlement, between 1400 and 8000 accounts, “Standard Chartered” in the country.
     Said Luay al-Samarrai Managing Director of Foundation Public Relations active in Dubai, which has had a banking transactions with “Standard Chartered” for 13 years and that “the Bank endangers the lives of a lot of people because businesses such as our organization has links to private salaries and payment to suppliers.”
    He added: “I need more than a period of 30 days because the establishment of a new account with another bank takes at least a few weeks.”
    He said, “Standard Chartered” in a statement that he will meet with current borrowing agreements with its customers to allow them to repay the amounts due under the current schedules for payment, and that he would make every possible effort to minimize any hassles.
     The bank added that those who will be affected by Baltforeig of “Standard Chartered” Total annual sales ranging between one million dollars and 35 million dollars.
     The informed sources said that the bank was studied initially sell part of small businesses and medium-sized businesses and crossed several local banks talked to “Reuters” interest in buying those assets is that the tight deadline set by the regulatory authorities, the American and the risk to potential buyers of accounts that may lead to further regulatory sanctions show that a major obstacle in the way of sales.
     And refused to “Standard Chartered” to comment on any possible plan for the sale of small and medium-sized enterprises.

    http://arabspring-news.com/standard-chartered-is-preparing-to-close-the-accounts-of-its-customers-in-the-uae/

      Current date/time is Tue 05 Nov 2024, 4:40 pm