Emirates NBD signs with Al Fajer Securities for General Clearing Member services

1 Min | 03 January 2018

Emirates NBD, a leading bank in the region, today announced that it will provide clearing services to UAE-based Al Fajer Securities.

Dubai, 03 January 2017: Emirates NBD, a leading bank in the region, today announced that it will provide clearing services to UAE-based Al Fajer Securities.

Emirates NBD signed the agreement with Al Fajer Securities in a ceremony attended by Mr. Khalid Al Shaikh, SCA Head of Licensing, and senior officials from Dubai Financial Market (DFM), Abu Dhabi Securities Exchange (ADX), Emirates NBD, and Al Fajer Securities. The bank is the first UAE-based financial services entity to be approved by ‘SCA - Securities and Commodities Authority as a ‘General Clearing Member’ providing clearing and settlement services to trading participants of the UAE’s equity markets.

“With the signing of Al Fajer Securities, Emirates NBD continues to enhance its proposition to the UAE’s equity markets,” said Tariq Bin Hendi, Executive Vice President and Head of Products & Advisory, Emirates NBD Group. “We currently offer UAE-based brokerage firms a range of tools and products in addition to access to credit facilities to enhance their operational and cost efficiencies.”

Ali Mohammed Saeed Al Badi Al Dhaheri, Chairman of Al Fajer Securities, said: “Al Fajer Securities has been associated with Emirates NBD for more than a decade in banking and financial services. We look forward to deepening and developing this partnership to provide our clients with leading services in this field in the coming phase."

Seen here in the picture are Mr. Nabil Farhat, Partner Al Fajer Securities, and Mr. Deeptha Premasinghe, Head, General Clearing Member Services at Emirates NBD.

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