Plc. This gave subsidiary Stanbic IBTC Holdings significant presence in the Nigerian market. Tanzania In 1995, the bank acquired the operations of the Meridien BIAO Bank and renamed it Stanbic Bank Tanzania Limited. In September 2012, Stanbic Bank Tanzania secured financing worth $3 billion for Mchuchuma Iron Ore and Liganga Coal mining project in the Ludewa district of the newly created region of Njombe in southwestern Tanzania. Uganda In 2002, Standard Bank acquired 90 percent of Uganda Commercial Bank, the largest commercial bank in Uganda at that time, making Standard Bank a major actor in the banking sector of that East African country. They renamed the bank Stanbic Bank (Uganda) Limited. , Stanbic Bank (Uganda) was still Uganda's largest commercial bank with approximately 20 percent of all bank assets and about 18 percent of all bank branches in the country. The stock of Stanbic Bank (Uganda) Limited is traded on the Uganda Securities Exchange (USE) under the symbol SBU. Standard Bank Group maintains approximately 80 percent shareholding. In 2015 Stanbic Bank was involved in a fraud scandal involving money transfers from the Swedish embassy to private accounts of a former embassy employee. Zimbabwe Stanbic Bank Zimbabwe Limited operates as a registered commercial bank in Zimbabwe. In November 1992, Standard Bank began operations in Zimbabwe as Stanbic Bank. International United Kingdom In the early 1990s the bank started operations in London, and Standard Bank London Ltd was awarded a banking licence in 1992. It was announced at the end of July 2013 that Standard Bank was in talks to sell its markets business in London to the Industrial and Commercial Bank of China for more than $500 million. In November 2013, Standard Bank confirmed it was in talks to sell a controlling stake in its London-based global markets business. In January 2014 the Financial Conduct Authority (FCA) fined Standard Bank PLC (Standard Bank) £7,640,400 for failings relating to its anti-money laundering (AML) policies and procedures over corporate customers connected to politically exposed persons (PEPs). Between 15 December 2007 and 20 July 2011, Standard Bank failed to comply with Regulation 20(1) of the Money Laundering Regulations because it failed to take reasonable care to ensure that all aspects of its AML policies were applied appropriately and consistently to its corporate customers connected to PEPs. Argentina In 2006, Standard Bank bought BankBoston Argentina unit expanding its operations into this country. In 2012, ICBC