UAE authority approves NBAD for lending activity
05 August 2015 Abu Dhabi
Image: Shutterstock
The Securities and Commodities Authority (SCA) in the United Arab Emirates (UAE) has granted approval for the National Bank of Abu Dhabi (NBAD) to engage in securities lending and borrowing activities, making it the first bank to receive approval.
The move is part of an effort to develop capital markets in the UAE and better meet the needs of investors and strategic partners, while improving the securities industry in line with growth in the region.
In particular, the development is geared towards supporting local capital markets, supporting the pace of local and foreign investment.
NBAD satisfied the conditions and requirements set by the SCA around regulations on securities lending and borrowing.
The move is part of an effort to develop capital markets in the UAE and better meet the needs of investors and strategic partners, while improving the securities industry in line with growth in the region.
In particular, the development is geared towards supporting local capital markets, supporting the pace of local and foreign investment.
NBAD satisfied the conditions and requirements set by the SCA around regulations on securities lending and borrowing.
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