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StanChart pressing on with Saudi Arabia licence application - executive

StanChart pressing on with Saudi Arabia licence application - executive
FILE PHOTO: A Standard Chartered logo at its headquarters is seen through a window with raindrops, in Hong Kong, China August 4, 2016. REUTERS/Tyrone Siu/File Photo   -   Copyright  Tyrone Siu(Reuters)
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LONDON (Reuters) – Standard Chartered <STAN.L> is pressing on with its application for a banking licence in Saudi Arabia, its chief financial officer said on Wednesday, despite global outrage over the murder of a journalist in the country’s Turkish consulate.

“We have taken account of recent events, but conversely this is about running a business for the long term and that process will continue,” CFO Andy Halford told reporters.

The bank in October last year said it was talking to regulators about applying for a licence in the kingdom.

Jamal Khashoggi, a Washington Post columnist and a critic of Saudi Arabia’s de facto ruler Crown Prince Mohammed bin Salman, was killed in the Saudi consulate in Istanbul on Oct. 2.

StanChart’s rival HSBC <HSBA.L> said this week it saw little long-term impact on Saudi Arabia investment from the case.

Asia, Africa and Middle East-focused StanChart warned earlier on Wednesday about the impact on its business from rising trade tensions.

(Reporting by Lawrence White; Editing by Edmund Blair)

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