Fantastic News. SC Bank cut jobs in Sickipoora and replaced with CECAs

[A Singaporean]

Indian teach Sinki how to Jiak Curry?

No lah.Jiak sai.

 

[True Believer]

Half of my US HQ management are Bayi….

If you want to get rid of them, spray some "bayi gone".

 

[k1976]

Standard Chartered faces US$2.7 billion lawsuit linked to 1MDB​

Bloomberg
Tue, 1 July 2025 at 3:06 PM SGT2-min read

Liquidators have begun legal proceedings against Standard Chartered in Singapore. (Photographer: Lam Yik/Bloomberg)
By Anshuman Daga and Chanyaporn Chanjaroen

(Bloomberg) – Standard Chartered is facing a US$2.7 billion lawsuit from liquidators alleging it played a role in enabling the laundering of billions of dollars misappropriated from Malaysian sovereign wealth fund 1MDB.

Liquidators began legal proceedings against the UK-headquartered bank in Singapore, according to a statement released on Tuesday. Standard Chartered has yet to receive the claim documents and “emphatically rejects any claims” made by the 1MDB companies, the bank said in a reply to Bloomberg News.

 

[k1976]

The claimants allege that Standard Chartered Bank permitted more than 100 intrabank transfers between 2009 and 2013 that helped to conceal the flow of stolen funds. Such transfers led to the loss of more than $2.7 billion for the claimants, as well as S$20 million ($15.7 million) in public funds, according to the liquidators’ statement.

The British bank added that the liquidators had publicly stated they were “shell companies with no legitimate business.” Standard Chartered had reported the transaction activities of the 1MDB companies, shut these accounts in 2013 and fully cooperated with the investigating authorities, the bank said.

The Financial Times reported the lawsuit earlier.

The 1MDB scandal was one of the biggest financial frauds in history, with stolen funds estimated to have exceeded $4 billion. Investigations led to the imprisonment of ex-Goldman Sachs Group executives and a former Malaysian prime minister. Malaysian financier Jho Low remains a fugitive.

 

[k1976]

https://www.ft.com/content/0f09cef1-7517-47ca-876a-b920e261fec5

Financial Times just published an article yesterday on Standard Chartered new spring arriving…..

 

[k1976]

Standard Chartered to enable real-time USD settlements at GIFT City as CCIL IFSC's settlement bank​

Fortune India
July 01, 2025, 17:47 IST / 2 min read
https://www.facebook.com/sharer/sha...s at GIFT City as CCIL IFSC's settlement bank
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https://api.whatsapp.com/send?text=...ift-city-as-ccil-ifscs-settlement-bank/124527


Standard Chartered Bank will serve as the settlement bank for CCIL IFSC's Foreign Currency Settlement System at GIFT City, enabling real-time USD transactions. This partnership aims to boost GIFT City's status as a global financial hub, enhancing fund management efficiency for IFSC Banking units and other institutions.

The development is significant, which will enable real-time settlement of USD transactions within GIFT IFSC. | Credits: Fortune India




Standard Chartered Bank IBU and CCIL IFSC Limited, a subsidiary of The Clearing Corporation of India Limited (CCIL), have signed an agreement whereby the bank will act as the settlement bank for the Foreign Currency Settlement System (FCSS) of CCIL IFSC Limited in GIFT City, Gandhinagar, Gujarat.

 

[k1976]

Standard Chartered Bank ups maximum interest rate on savings account to record 8.05%​

This is up from the previous 6.05 per cent and marks the highest rate offered by Standard Chartered’s flagship savings account.

A Standard Chartered bank in Singapore on May 3, 2023. (File photo: Reuters/Caroline Chia)



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6 min
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Tang See Kit
03 Jun 2025 08:47PM (Updated: 03 Jun 2025 08:53PM)
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Read a summary of this article on FAST.


FAST
SINGAPORE: Standard Chartered Bank has raised the maximum interest rate on its flagship Bonus$aver savings account to 8.05 per cent a year – the highest ever offered by the bank.

The increase from 6.05 per cent kicked in from Sunday (Jun 1), bucking the downward trend in savings account interest rates here.

 

[bigozt]

Most fucked up bank in Sinkieland.

 

[myfoot123]

largest shareholder is Temasek right?

Not exactly. The largest shareholder is Hor Jinx and Pinky. Tamasick is just their vessel.