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FAB gains Egypt custody license as part of MENA expansion  The license follows FAB’s recent agreement to acquire Bank Audi Egypt, which included its local custody business. February 15, 2021 1:30 PM GMT First Abu Dhabi Bank (FAB) has obtained a custody license in Egypt, the latest milestone for its Middle East and North Africa (MENA) expansion plans.   The license, granted by Egypt’s Financial Regulatory Authority (FRA), will facilitate its membership to Misr, the country’s central securities depositary (CSD) for clearing and settlement of trades executed on The Egyptian Exchange (EGX).  It follows FAB’s recent agreement to acquire Bank Audi Egypt, including its local custody business, which will supplement FAB’s custody services expansion in Egypt. After the acquisition, FAB will be one of the largest foreign banks in Egypt with more than $8.1 billion of assets.  

Saudi arabiaAbu dhabiAbuz abyUnited arab emiratesKashif darrEgypt financial regulatory authorityFirst abu dhabi bankBank audi egyptEgyptian exchangeMiddle eastNorth africaFinancial regulatory authorityசவுதி அரேபியாஒன்றுபட்டது அரபு அமீரகங்கள்காஷிஃப் டர்எகிப்து நிதி ஒழுங்குமுறை அதிகாரம்