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Standard Chartered Launches Priority Banking Services To NRIs In UAE

Standard Chartered has expanded its priority banking services by launching a new service for affluent non resident Indians (NRIs) in the UAE, to address the customers request for tailored service.

The account, which can be opened either in India or the UAE, provides customers with access to a single relationship manager (RM) who address the specific banking requirements of NRIs living in the UAE.

In addition to the single relationship manager, other features of the service offering include: priority status for the whole family; cross-border facilities; a dedicated relationship management team and online trading account (3 in 1) for non resident Indians for INR denominated stocks, mutual funds and bonds.

Deanna Othman, general manager of premium banking at Standard Chartered UAE, said: “While the affluent market is growing at a rate of 12% in the UAE, our priority banking business has experienced a growth in customer numbers by 18% as a result of placing more emphasis on providing a superior level of service.

"Given the large population of affluent NRIs in the UAE, we asked customers what they required and then went about developing a service which would exceed their needs and which would continue to keep our portfolio growing.”