This money went into accounts in Saudi Pak Bank, Standard Chartered Bank and Habib Bank, Ltd.
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Changes recommended by the ICB will also impact other banks headquartered in the U.K. including RBS Group, HSBC and Standard Chartered Bank.
Other sponsors include the European Commission, ClimateWorks and Standard Chartered Bank.
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On Monday, the Independent Commissions of Banking submitted its final report recommending far-reaching changes to all banks headquartered in the U.K., which has significant implications for companies like Barclays, RBS Group, HSBC and Standard Chartered Bank.
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The countries are all subject to U.S. sanction and the U.S. Department of Justice and Federal Reserve say Standard Chartered Bank moved millions of dollars between 2001 and 2007 illegally through the U.S. financial system on behalf of Iranian, Sudanese, Libyan and Burmese entities.
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Chen reportedly owes money to a host of different creditors that includes Anglo Australian mining giant BHP Billiton, Standard Chartered Bank and others.
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The British Chambers of Commerce, and the Standard Chartered Bank have also said that unemployment could reach about 3 million before the recession ends.
This means the bonus rules will probably apply to subsidiaries of Barclays and Deutsche Bank in the US, Standard Chartered bankers working in Asia and Goldman Sachs traders based in London.
Shankar, CEO of the Europe, Middle East, Africa and the Americas for Standard Chartered Bank told me.
Federal and state prosecutors have reached settlements with large international banks, including ING and the British bank Standard Chartered, for their sanctions busting transactions with countries such asCuba andIran.
Then late Thursday, Standard Chartered bank released their small and mid-sized businesses confidence index survey.
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Gunasegaran, a local research chief at Standard Chartered Bank, sees labor and infrastructure bottlenecks, but even these could offer profit opportunities.
Now some companies, including PepsiCo, Standard Chartered, a big bank, and Pfizer, are setting up their own internal app stores too.
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"Under the cease and desist order, Standard Chartered must improve its program for compliance with US economic sanctions, Bank Secrecy Act, and anti-money-laundering requirements, " the Fed said.
Singapore has stakes in banks like Standard Chartered, Barclays, even Bank of China and China Construction Bank.
Barclays has a core tier 1 ratio of 10%, HSBC 9.9%, Lloyds 9%, Royal Bank of Scotland 10.5% and Standard Chartered 9%.
"We brainstormed on ways to make it convenient and yet secure for customers, " said V Subba from Standard Chartered Bank, which is collaborating with Mastercard.
It has acquired a majority share in U.K. bank Standard Chartered, reportedly beating the likes of JPMorgan Chase and Barclays.
It was the latest vivid scene in the clashes between Standard Chartered and U.S. authorities, who conducted a yearslong investigation into the bank's dealings with Iran that resulted in big fines last year.
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Standard Chartered Bank is a UK-based multinational, with operations in Africa, Asia and the Middle East.
That will not happen, says Wong Yit Fan, an economist with Standard Chartered Bank, until the various governments prove that they are receptive to foreign investment and serious about economic reform.
Standard Chartered is a UK-based bank, but has most of its operations in Asia and the Middle East.
The measures in the paper a new investment law, accelerated privatisation, legal reform, counter-corruption measures and so on look sensible enough, says Fauzi Ichsan, an economist at Standard Chartered Bank.
But as the Standard Chartered case showed, when the DFS brought its charges unilaterally and secured a rapid settlement with the bank, co-ordination between agencies is not guaranteed.
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