Hany Samir, Head of Custody at NBAD
The National Bank of Abu Dhabi (NBAD), the Number One Bank in the UAE, has become a Direct Custodian for NASDAQ-Dubai,thus availing Direct Custody services for all three UAE Stock Markets. This important milestone cements NBAD Custody’scomplete product proposition; intermediating inflow, intra-regional & outflow investments.
The custodian plays an integral role in the capital markets by segregating the trading and post-trading activities, hence minimizing investments risks and providing investors with the clearing and settlement services as well as assets servicing.
NBAD is the first licensed Custodian bank and the only banking institution originating from the UAE that is licensed by the Emirates Securities & Commodities Authority to be a custodian or custody services provider.
As a custodian,NBAD provides services such as equity and fixed income securities settlements, safekeeping, pre-matching, corporate actions, income collection, proxy services, market claims, cash management, foreign exchange, reporting, market expertise and information services to clients. It avails a single entry point for the post-trading services for local, regional and international stock markets.
As part of NBAD’s commitment to global reach, the Bank will continue to expandits direct custody proprietary network to meet the growing needs of clients.
“By being a Direct Custodian for NASDAQ-Dubai,NBAD is directly covering the three markets of the UAE in addition to our regionaland international coverage through sub-custodians,” says Hany Samir, Head of NBAD Custody & Co-Head of SFAS.
“NBAD continues to advance its ability to meet the requirements of sophisticated domestic and international investors and put a solid stamp to our product development evolution,” adds Mr. Samir.
NBAD, the Number One Bank in the United Arab Emirates, has been ranked since 2009 by Global Finance in its exclusive World’s 50 Safest Banks.