First Abu Dhabi Bank receives Oman CMA custody licence
Published 24 Jan,2021 via Muscat Daily - First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s biggest financial institutions, announced that it has been granted Oman Capital Market Authority (CMA) custody licence and the bank has signed a service level agreement with Muscat Clearing and Depository Company (MCD).
FAB has become a direct custodian member of MCD in Oman, the UAE-based bank said in a press statement.
FAB is the third international custodian of the securities depository linked to the Muscat Securities Market (MSM). It will contribute to MCD’s mission to promote post-trade solutions that systematically reduce risks, enhance operating efficiency and minimise cost.
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