HSBC Bank Middle East has become the first foreign bank, as of August 19th, to provide full sub-custody and securities clearing services in the UAE to foreign institutional investors, reported Gulf News Sunday.
These new services, designed for global custodians, brokers and American Depository Receipts (ADR) issuers, include safe custody, receipt and delivery, cash and corporate action reporting, collection of dividends, and proxy and foreign exchange services, said the Emirati daily – Albawaba.com
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