Dubai Financial Market (DFM) and Nasdaq Dubai have announced plans to expand their custody services in collaboration with ENBD Capital, the investment banking arm of Emirates NBD. The move is aimed at enhancing the efficiency and effectiveness of securities custody services in the UAE, and reflects the country’s ongoing efforts to strengthen its financial services industry.
The collaboration between DFM, Nasdaq Dubai, and ENBD Capital will enable clients to benefit from a wider range of securities custody services, including clearing, settlement, and asset servicing. The three organizations will work together to develop new and innovative custody solutions that are tailored to the specific needs of clients in the UAE and the wider region.
The move comes at a time when the UAE is seeking to enhance its position as a leading financial hub in the Middle East. The country has made significant investments in its financial services infrastructure in recent years, and has worked to attract a growing number of international firms to its shores.
The expansion of custody services by DFM, Nasdaq Dubai, and ENBD Capital is expected to have a significant impact on the country’s financial services industry. By offering a wider range of services and solutions, the three organizations will be better positioned to meet the evolving needs of clients in the UAE and beyond, and to compete more effectively with other financial hubs in the region.
The move is also likely to have wider implications for the UAE’s economy as a whole. As the country continues to invest in its financial services industry, it is expected to attract a growing number of international firms and investors, driving growth and innovation across a range of sectors.
Overall, the expansion of custody services by DFM, Nasdaq Dubai, and ENBD Capital represents a significant development for the UAE’s financial services industry and reflects the country’s ongoing commitment to promoting innovation and excellence in this critical sector. It is expected to have a positive impact on the country’s economy, and to contribute to its ongoing efforts to become a leading financial hub in the Middle East.
