STANDARD CHARTERED BANK

Jordan 2019 | FINANCE | INTERVIEW

TBY talks toMuhannad Mukahall, CEO Jordan & Country Head of Commercial Banking Jordan, Standard Chartered Bank on the Finance sector.

Muhannad Mukahall
BIOGRAPHY
Muhannad Mukahall assumed his current position after having successfully led the Global Banking Business at Standard Chartered Bank Jordan and the local corporate business at Standard Chartered Bank Abu Dhabi. Prior to joining Standard Chartered Bank, Mukahall held multiple leadership roles at Abu Dhabi Commercial Bank, Arab Bank Dubai, and HSBC. He brings with him a wealth of regional experience that spans over 20 years.

Would you give us a brief overview of Standard Chartered's evolution in Jordan, its commitment to the country, and the bank's current direction?

Standard Chartered was the first bank to launch operations in Jordan through its acquisition of ANZ Grindlays Bank in 2000 and its earlier acquisition of the Ottoman Bank, which was established in 1925. Our heritage and values are expressed in our brand promise: Here for good. With more than 86,000 employees and a presence in 60 markets, our network serves customers in close to 150 markets worldwide. We are listed on the London and Hong Kong Stock Exchanges as well as the Bombay and National Stock Exchanges in India. In Jordan, we have third-generation clients, which shows how we have built trust and long-term relationships. For us, it is not just about providing clients with the normal banking service; as an international bank, we focus on building long-term relationships where we can add value for clients and share our international experience.

How is Standard Chartered responding to digitalization in the sector?

A bank has to understand the market and employ talented people. Equally important, a bank has to understand the cycle of a particular business and what it needs to grow further, expand, or face challenging times. At present, the traditional banking sector is facing newcomers in the form of fintechs that could change the entire banking sector. Therefore, we need to be prepared for digitalization in order to avoid any challenge. In 2017, we have started increasing investments in our distribution channels by introducing mobile banking and changing our online banking interface to increase convenience and reach for our clients.