Stanchart says to inform investors of material Dubai exposure

Standard Chartered Bank said on Friday that it would inform the investment community if it had any exposure to troubled investments in Dubai.

Dubai, whose extravagant building projects have been largely put on hold since the global financial crisis, has said it would ask creditors at its flagship companies Dubai World and property developer Nakheel to delay repayment on billions of dollars of debt.

"We do not comment on specific clients," Standard Chartered said in a statement. "We are fully aware of our disclosure obligations, and would make a statement in the event that we had anything material to disclose."

Istithmar World, an investment arm of Dubai World, also has an investment in Standard Chartered, according to Istithmar''s corporate website.