Emirates NBD signs with Amwal Brokerage for general clearing member services

UAE-based Amwal Brokerage has signed up as trading member to avail the bank’s settlement and clearing services.

  
Emirates NBD signs with Amwal Brokerage for general clearing member services

Dubai: Emirates NBD, a leading bank in the region, announced that UAE-based Amwal Brokerage has signed up as trading member to avail the bank’s settlement and clearing services.

Following approval by ‘SCA - Securities and Commodities Authority as a ‘General Clearing Member’, Emirates NBD has added several clients to its growing portfolio making it the market leader in providing clearing and settlement services to trading participants of the UAE’s equity markets.

“We are delighted to have been chosen by Amwal Brokerage to provide a range of tools and services to enhance their operational efficiency. As we continue to enhance our offering to trading members to help them reduce financial and operational commitments, we look forward to onboarding more members in the near future,” said Tariq Bin Hendi, Executive Vice President and Head of Wealth Products & Advisory for Retail Banking & Wealth Management, Emirates NBD Group.

Saif Sultan Abdulla Al-Salami, Chairman at Amwal Brokerage, said: “We are delighted to partner with Emirates NBD, the UAE’s first authorised General Cleaning Member, to provide us clearing and settlement services as we aim to strengthen our trading. Our partnership is aligned to our continuous endeavour to provide customers with superior services that meet the highest standards of efficiency and transparency.

“We would also like to thank the Securities and Commodities Authority for their continuous efforts towards improving the overall legislative and regulatory framework of financial markets, which will potentially contribute to an upgrade in the UAE’s classification to a developed market in the future,” added Al-Salami.

Seen here in the picture are Saif Sultan Abdulla Al-Salami, Chairman at Amwal Brokerage, and Deeptha Premasinghe, Head, General Clearing Member Services at Emirates NBD.

-Ends-

About Emirates NBD:

Emirates NBD is a leading banking Group in the region. As at 31st March 2018, total assets were AED 475.6 Billion, (equivalent to approx. USD 129.4 Billion). The Group has a significant retail banking franchise in the UAE and is a key participant in the global digital banking industry, with over 90 per cent of all financial transactions and requests conducted outside of its branches. The bank was declared the Most Innovative Financial Services Organization of the Year at the 2017 BAI Global Innovation Awards.

The bank currently has 228 branches and 1057 ATMs and SDMs in the UAE and overseas and a large social media following, being the only bank in the Middle East ranked among the top 20 in the ‘Power 100 Social Media Rankings’, compiled by The Financial Brand. It is a major player in the UAE corporate and retail banking arena and has strong Islamic Banking, Global Markets & Treasury, Investment Banking, Private Banking, Asset Management and Brokerage operations.

The Group has operations in the UAE, Egypt, the Kingdom of Saudi Arabia, India, Singapore, the United Kingdom and representative offices in China and Indonesia.

The Group is an active participant and supporter of the UAE’s main development and community initiatives, in close alignment with the UAE government’s strategies, including financial literacy and advocacy for inclusion of People with Disabilities under its #TogetherLimitless platform. Emirates NBD Group is an Official Premier Partner of Expo 2020 Dubai. For more information, please visit: www.emiratesnbd.com

For further information on Emirates NBD, please contact:

Ibrahim Sowaidan
Senior Vice President

Head - Group Corporate Affairs
Emirates NBD
Telephone: +971 4 609 4113 / +971 50 6538937
e-mail: ibrahims@emiratesnbd.com

Tricia Kaul 
ASDA’A Burson-Marsteller; Dubai, UAE

Tel: 971-4-4507600; Fax: 971-4-4358040
Email: tricia.kaul@bm.com 

© Press Release 2018

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