Bloomberg/Jasper Juinen
The Dubai Financial Market Company (DFM) has received a regulatory licence from the Securities and Commodities Authority (SCA) for its new depository company, the Dubai Central Securities Depository (Dubai CSD), as the first independent company for central securities depository services in the UAE.
Essa Kazim, Chairman of DFM Company, said, “We believe that the re-organisation of the DFM Company’s business units creates a solid foundation to achieve the objectives of our 2021 strategy aiming to strengthen the DFM’s active role, in line with Dubai’s status as a centre of excellence and a dynamic capital markets hub.”
DFM stated that the establishment of the Dubai CSD is part of a comprehensive re-organisation plan for post-trade services that further strengthens the exchange in driving the development of the capital markets sector in the UAE and the region.
Dubai CSD is expected to start operations soon—and once Dubai operations begin, investors will be able to utilise all depository-related services such as application for Investor Numbers, NINs as well as customer services and the payment of cash dividends through the Dubai CSD.
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CPI Financial was established in Dubai in 1999 to meet the needs of an ever-expanding financial community, offering a comprehensive portfolio of market-leading products and services tailor-made for the banking and financial services sectors.
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