Standard Chartered Strengthens Commitment to Growing Small Medium Entreprise Industry

Products and services offered specifically for SME through the Bank's strategic partner Allianz Takaful

Manama 27 April 2010: Standard Chartered Bank Bahrain further strengthened its commitment to growing Small Medium Enterprise (SME) Industry in Bahrain through the launch of Insurance products and services offered specifically for business owners, proprietors, professionals and companies through the Bank's strategic partner Allianz Takaful. The key products being offered are Keyman Insurance, Office Insurance, Group Health and Corporate Savings Schemes.

Product like key man insurance supports the business during uncertain events. A group pension scheme facilitates the proprietor to recruit and retain quality employees. Group health insurance makes the employee feel he is taken care of by the organization. Office insurance allows customers to protect their assets against losses from an unforeseen incidence. A combination of the offerings will enable SMEs to grow their businesses while managing some of the inherent risks associated with the business cycle.

B. Chandrasekhar, Regional Head Consumer Banking Northern Gulf, Levant & Oman Standard Chartered Bank said, ""SME sector is one of the key contributors to country's economic growth and has significant future growth potential therefore we are pleased to be partnering Allianz Takaful, a major global financial services provider with best in class product offerings. As the first Bank in Bahrain, celebrating 90 years this year, the launch reinforces the Bank's continuous commitment especially to the SME segment in the Kingdom while focusing on the encouragement to SME players for further achievement. Our international network of presence in over 70 countries gives us a distinct advantage to assist the SMEs in Bahrain go global. This, we believe, will go a long way in ensuring we have here for our customer's successful business growth and expansion."

Qamar Saleem, Regional Head SME Banking said,"We are the leading international bank providing extensive range of business solutions to cater to the banking needs of small and medium sized companies across Asia, Africa and the Middle East. Our customer focus approach enables us to understand customer needs and develop tailored products and services. Insurance solutions for SMEs is yet another addition to our range of offerings to support the needs of SME customers in Bahrain where we already offer transaction banking, treasury, trade and lending products supported through a dedicated SME service centre."

Dr. Abdulrahman Khalil Tolefat, Chief Executive Officer of Allianz Takaful said, ,"We are proud to associate with the oldest and leading multinational bank in Bahrain to sell our Insurance products. Standard Chartered Bank enjoys a large and growing customer base which is a potential and ideal target segment for our Insurance products. We hope to tap into this segment with the support of the efficient sales support offered by the Bank."

"The SME segment products like keyman insurance, group health & life plans, office insurance, corporate savings plans, etc. are now available at Standard Chartered Bank SME Department across Bahrain. The customers can avail the services of the Standard Chartered Bank's Relationship Managers to tailor make Allianz Takaful products to suit their specific insurance requirements."

The launch strengthens Standard Chartered's commitment towards building a sustainable business in the emerging markets of the Middle East, Asia and Africa, to be here for the progress of our customers.

For further information, please contact:

Nimmi Kamal
Head Corporate Affairs Bahrain, Standard Chartered Bank
Tel: +973 3977 076
E-mail: Nimmi.Kamal@sc.com

Standard Chartered – leading the way in Asia, Africa and the Middle East

Standard Chartered PLC is a leading international bank, listed on the London and Hong Kong stock exchanges. It has operated for over 150 years in some of the world's most dynamic markets and earns around 90 per cent of its income and profits in Asia, Africa and the Middle East. This geographic focus and commitment to developing deep relationships with clients and customers has driven the Bank's growth in recent years.

With 1700 offices in 70 markets, Standard Chartered offers exciting and challenging international career opportunities for its 75,000 staff. The Bank is committed to building a sustainable business over the long term and is trusted worldwide for upholding high standards of corporate governance, social responsibility, environmental protection and employee diversity. This heritage and these values are expressed in its brand promise, 'Here for good'.

For more information on Standard Chartered, please visit: www.standardchartered.com