Stanbic Bank Zambia Limited is part of the Standard Bank Group. The Standard Bank Group, with strong African roots and a leader in emerging markets, has on-the-ground representation in 20 African countries. Stanbic Bank Zambia has presented a new product for their private clients: Offshore Banking Solutions.
Offshore banking is the practice of keeping money in a bank account found in a different country than the account holder’s home country. There are various reasons why people choose to do this, including the potential for tax benefits, asset protection, convenience, and security.
The Offshore banking solutions on offer will serve a number of purposes such as:
• For handling school fees for children studying abroad, giving the parent a full view of how their child is spending money.
• Guard against social and political risk
• For travel purposes and if one wants to retire abroad
The Offshore bank account will act as a one-stop- shop for its private clients, who will have access to different products such as fiduciary, retail investment, structured products, different types of accounts, and other investment opportunities.
The structured products will particularly be on offer for people to invest in. Some of the products on offer will include but are not limited to:
• Investing in the SMP index and other Index funds
• Lending offering: where private clients could buy property to let in the UK only which is a good real estate investment by obtaining a loan from the bank.
• As well many other Investment opportunities on offer
Information is freely available and accessible; all interested parties should be clients of Stanbic Bank and then all they must do is contact their relationship manager for more details.
When asked about data privacy issues such as robust systems being in place to protect personal and financial information from unauthorized access, data breaches, and cyberattacks during cross-border data trade.Cheryl, the offshore banking relationship, and the international guest speaker and structured products manager – Osman Salleh noted that stringent mechanisms exist, such as multi-factor authentication and regular security audits. Stanbic Banks’ online Internet banking portal and mobile app have features such as transaction monitoring, account activity alerts, and the ability to customize security preferences.
When it comes to seamless assistance, Stanbic Bank Zambia noted they are willing to go the extra mile. Clients will experience the convenience of a dedicated online chat agent and a responsive relationship manager, ensuring swift and reliable support whenever needed. Stanbic envisions that this service will greatly benefit many of its clients.