StanChart to curb US$2b diamond exposure: sources
London
STANDARD Chartered Plc is demanding more loan protection from clients in the Indian and Belgian diamond trade as the bank seeks to tighten standards, according to people with knowledge of the new policy.
After lending about US$2 billion to the industry, the London-based bank is asking diamond-processing clients to get payment insurance or provide 100 per cent collateral, said the people, who asked not to be identified as the matter is private.
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