FAB secures custody licence from Egypt's market regulator
"We will offer domestic investors a full range of world class post-trade solutions, with our direct MCDR connectivity at its core," said Kashif Darr, managing director & head of securities services. "We will also intermediate international capital flows into this strategic market, as part of our regional direct custody platform." Egypt is FAB's fourth direct custody market within its Middle East network. The lender provides custody services in the UAE, Saudi Arabia, Oman, Bahrain, Lebanon and Egypt. It also plans to launch services in Qatar and Kuwait. FAB's deal to acquire the Egyptian oper...