Karachi, Dec 2 /DNA/: In a significant move for Pakistan’s real estate and financial sectors, Standard Chartered Bank (Pakistan) Limited has been chosen by EMAAR Pakistan as its banking partner for projects in Karachi, delivering a full suite of solutions from working capital to mortgage facilities for resident and non-resident Pakistanis.
The agreement was signed by Saadya Riaz, Head Wealth & Retail Banking, Standard Chartered Pakistan, and Aziz Jindani, Chief Executive Officer, EMAAR Pakistan. Present at the signing from SC Pakistan were senior management officials, including Arslan Nayeem, Head of Coverage Pakistan, Shada El Borno, Regional Head of Global Subsidiaries UAE, ME & Pakistan, and Motasim Iqbal, Regional Head Corporate Sales, MEA & P. EMAAR Pakistan was represented by Ali Baig, Chief Financial Officer, and Asim Khan, Senior Manager, Finance.
Under the mandate, SC Pakistan will provide tailored mortgage financing solutions to Pakistani citizens – both resident and overseas – seeking to invest in premium real estate developments, who will have access to new projects and partnerships. Earlier this year, an agreement was made to offer working capital facilities for their ongoing real estate projects.
Aziz Jindani affirmed: “Emaar Pakistan’s collaboration with Standard Chartered underscores our commitment to advancing the country’s real estate sector and strengthening investor confidence. Partnerships like this help reinforce the sector’s credibility and transparency. This arrangement supports our commitment to delivering transformative developments that contribute meaningfully to Pakistan’s urban landscape.”
Saadya Riaz stated: “This mandate is a testament to the strength of our global relationships and our ability to serve clients across markets. Standard Chartered has been a trusted financial partner to EMAAR in the UAE, and we are delighted to extend that collaboration to Pakistan. We are helping clients unlock new opportunities in the real estate sector while making home financing accessible.”
Arslan Nayeem remarked: “This arrangement signifies our capacity to provide value-added solutions that cater to our multinational clients’ growth and operational requirements.”
This mandate will further solidify the Bank’s position as a trusted banking partner for global corporations operating in Pakistan. It also further deepens the longstanding relationship between Standard Chartered and EMAAR Pakistan, which already spans multiple markets across the Bank’s network.
The partnership is a testament to the Bank’s strong network and a deep understanding of both local and cross-border financial ecosystems. As part of its strategic focus on delivering the One Bank proposition, this collaboration is designed to bring Standard Chartered’s full spectrum of services to clients in an integrated and synergised manner.
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