UAE - First Abu Dhabi Bank to partner with Thomas Murray| MENAFN.COM

Monday, 23 May 2022 05:14 GMT

UAE - First Abu Dhabi Bank to partner with Thomas Murray


(MENAFN- Khaleej Times)

Published: Thu 20 Jan 2022, 3:16 PM

First Abu Dhabi Bank (FAB) has announced that it will partner with Thomas Murray, a UK-based post-trade and technology company who provide guidance on local markets rules and regulations as well as systems and procedures for the trading, clearing, settlement, custody and asset servicing of securities.

FAB, a direct custodian in the UAE, Saudi Arabia, Egypt, Kuwait, Bahrain, Oman, and Lebanon, will become a key information source throughout the Middle East. Under the agreement, the bank will provide information on market changes which will be available to subscribers of Thomas Murray's Securities Market Information (SMI) database.

The information from FAB is set to benefit subscribers, ensuring they are kept up-to-date and follow local regulations in relation to the trade and post-trade process.

Kashif Darr, managing director and head of Securities Services at FAB, said:“We are proud to partner with Thomas Murray and to be a trusted source of market developments and vital information for investors and their providers. FAB is embedded in the infrastructure of the region. We have deep and long-standing relationships with the key financial market participants across all major centres of the Middle East, which offers us intimate access to market developments and information.'

Jim Micklethwaite, head of Operations, Thomas Murray, said:“We are delighted to have First Abu Dhabi Bank joining our SMI service. Their knowledge and expertise in financial services in the Middle East will be an invaluable tool for those financial institutions conducting business in the region and an outstanding addition to our 250 strong sources of information. This agreement solidifies the existing relationship which we have had with the bank for several years.”

The database is continuously updated by a team of analysts monitoring hundreds of sources to produce comprehensive market profiles for 105 countries worldwide which detail a wide range of topics such as market entry requirements, taxation or market charges.

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