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StanChart in regional cash management deal

StanChart in regional cash management deal

(Singapore) - The Royal Dutch/Shell Group's Treasury Centre East has closed a ten market Asian and Middle East cash management contract. StanChart has been tasked with delivering a full range of local currency cash management services, including cash concentration, payments, collections for Shell's network of wholesale and retail operations using both its own resources and correspondent banks.

Shell and Standard Chartered Bank are deploying a host-to-host communication link to carry all settlement instructions, remittance information and bank statements in a harmonised format.
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