NBAD participates in Middle East Securities Forum

The National Bank of Abu Dhabi (NBAD), the Number One Bank in the UAE, co-sponsored and contributed to the success of the Middle East Securities Forum 2011 held recently in Muscat, Oman. 

Hany Samir, the Head of Securities Custody at NBAD, represented NBAD at the event and contributed to a panel discussion by offering his and NBAD’s insight as a the UAE’s only local licensed securities custodian.

NBAD became the country’s first securities custodian last year and it expands this service outside the UAE through its commercial agreement with Société Générale Securities Services (SGSS). This partnership allows NBAD to offer global securities custody services in to clients across the the GCC and MENA regions. SGSS was NBAD’s partner in co-sponsoring this event. 

“The Middle East Securities Forum 2011 offered a platform for prominent buy and sell-side Securities Services professionals and entities from across the MENA region and beyond as well as regulators and stakeholders to discuss the critical and important topics of the day,” Mr. Samir said. “NBAD’s sponsorship and contribution to Middle East Securities Forum is founded in our philosophy to facilitate platforms for exchange of information and knowledge-sharing, which NBAD believes benefits everyone by leading to greater stability and sustainability in the markets.”

As a Securities Custodian, NBAD acts in a securities transaction as the “safe-keeper” of holder Securities and funds on behalf of a third party. A Securities Custodian provides safe-keeping, clearing, settlement and assets servicing, which entails collection of dividends, interest, subscription in rights issues, and proxy voting services. 

“Being the only licensed custodian bank to sponsor this event, we showed all participants that a GCC bank generally, and a UAE financial institution specifically, is able to offer services that were historically exclusive to international providers,” Mr. Samird said.