13 November 2023

Thank you for your letter of 26 October 2023 addressed to Mr. Bill Winters, CEO of Standard Chartered SC” describing the context for EU, UK, and US sanctions against Myanmar and specifically the military junta that has taken control of the country.

Standard Chartered has no correspondent account at any bank in Myanmar and is not providing commercial correspondent banking services to any bank in Myanmar. Standard Chartered takes very seriously its compliance with sanctions and anti-money laundering laws and is committed to preventing illicit financial activities more broadly. Standard Chartered has adopted policies and procedures designed to ensure compliance with EU, UK, UN, and US sanctions globally, including all of the specific provisions cited in your letter. As an active member of the Wolfsberg Group, Standard Chartered adheres to the Wolfsberg Group Correspondent Banking Due Diligence Guidance and has implemented a comprehensive know your customer and due diligence programme.

I hope the above information is sufficient to alleviate your concerns regarding these matters.