Business | Banking

DFM and NBAD sign Depository Participant Agreement

Dubai Financial Market (DFM) announced on Wednesday that it has signed a Depository Participant Agreement with National Bank of Abu Dhabi (NBAD) to be the first UAE-based bank providing securities services to local and international investors in DFM.

  • Staff Report
  • Published: 15:29 July 9, 2008
  • Gulf News

Dubai: Dubai Financial Market (DFM) announced on Wednesday that it has signed a Depository Participant Agreement with National Bank of Abu Dhabi (NBAD) to be the first UAE-based bank providing securities services to local and international investors in DFM.

The signing ceremony was attended by Essa Kazim, Chairman of DFM; Abdulla Mohammad Saleh Abdul Raheem, NBAD's Senior General Manager and Group Chief Operating Officer; Sally Paterson, NBAD's Head of Business Planning and Strategy; and Mariano Bengoechea, NBAD's Internal Advisor.

Kazim said: “This agreement with NBAD is fully in line with DFM's longstanding commitment to expanding and improving the quality of services offered to the investor community.

"The provision of such best-in-class services ensures that we meet the evolving needs of the local, regional and global investment community.''

He added: “We are delighted to sign this agreement with NBAD, which will enhance our service offering to all segments of investors, including individuals and institutions worldwide.

"The addition of NBAD complements the existing network of custody service providers that DFM recently began offering through leading financial institutions. We look forward to further expanding and enhancing these services in the future.''

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