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Karachi: Standard Chartered Pakistan has been awarded a $130 million banking mandate by Siemens Energy Pakistan, according to a press release. The agreement, which was approved in January 2025, involves a comprehensive range of banking services aimed at strengthening Standard Chartered’s role as a key banking partner for multinational companies in Pakistan.
The mandate underscores Standard Chartered’s extensive network and digital capabilities, as well as its expertise in both local and international financial systems. Under the terms of the agreement, Standard Chartered will provide tailored financial solutions to meet the complex needs of the energy sector, including custom working capital strategies to improve liquidity and efficiency.
Additionally, the bank will offer employee banking services to Siemens Energy’s workforce in Pakistan, providing access to a variety of retail banking products and digital services.
The agreement was formalized by Rehan Shaikh, CEO and Head of Coverage at Standard Chartered Pakistan, and Nadeem Kazmi, Managing Director of Siemens Energy Pakistan. Senior officials from both organizations, including Stella Choe, Global Head Corporate Coverage at Standard Chartered, and Imran Saeed, Head of Treasury and Corporate Finance Middle East and Africa at Siemens Energy, were present at the signing.
Rehan Shaikh expressed satisfaction with the mandate, stating that the agreement showcases Standard Chartered’s ability to deliver effective solutions that support client growth and operational needs. He emphasized the bank’s commitment to assisting multinational clients in navigating Pakistan’s financial environment.
Nadeem Kazmi highlighted the significance of the partnership, noting that Siemens Energy’s choice of Standard Chartered reflects the bank’s network strength and expertise in providing innovative solutions. He expressed confidence that the collaboration would streamline operations and create value for stakeholders.