Standard Chartered Bank (Pakistan) Limited (IFC-46069)

Regions
  • South Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Pakistan
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
FI
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Dec 23, 2022
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
STANDARD CHARTERED BANK (PAKISTAN) LTD.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 200.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jan 4, 2023

Disclosed by Bank Nov 9, 2022

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to IFC, the proposed project (“Project”) is an unfunded risk participation facility on a 50:50 basis, between IFC and Standard Chartered (Pakistan) Limited (“SCBPL” or “the Bank”), for up to US$ 200 million equivalent in local currency. The purpose of the Project is to support SCBPL’s trade and short-term working capital finance to eligible clients, and its supply chain finance program in Pakistan which will enhance access to finance to SMEs linked to domestic supply chains.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The Project will be an unfunded risk participation on a portfolio of up to US$ 200 million equivalent in local currency, where the exposure will be shared on a 50:50 basis between IFC and SCBPL. The underlying portfolio will support SCBPL’s trade and short-term working capital finance, and supply chain finance to eligible clients in Pakistan.

 
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

SCBPL is a 99% subsidiary of Standard Chartered PLC, a global banking and financial services company headquartered in London. Focused on emerging markets (“EMs”), Standard Chartered PLC leverages its expertise via a current network of over 1,200 branches across 70 countries and around 87,000 employees. It is listed on the London, Hong Kong and Mumbai stock exchanges, and ranks among the top 30 companies in the FTSE-100 by market capitalization. The major shareholders of Standard Chartered PLC currently include Temasek Holdings (private) Limited (16.0% stake), Schroders plc (5.6%), and BlackRock Inc (5.6%). All other shareholders currently own less than 5.0% of the Bank.

 

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
Standard Chartered PLC Parent Company Finance owns Standard Chartered Pakistan Subsidiary Finance

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Standard Chartered Bank Pakistan
Arslan Nayeem
MD & Country Head CCIB Coverage
+922132450253
arslan.nayeem@sc.com
SCB Head Office, I.I Chundrigar Road, Karachi, Pakistan
https://www.sc.com/pk/

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

How it works

How it works