Emirates NBD, a leading bank in the region, today announced that it will give clearing services to UAE-based Al Fajer Securities.

Emirates NBD authorized the agreement with Al Fajer Stocks in an event attended by Mr. Khalid Al Shaikh, SCA Head of Licensing, and senior officials from Dubai Financial Market (DFM), Abu Dhabi Securities Exchange (ADX), Emirates NBD, and Al Fajer Stocks. The bank is the very first UAE-based financial solutions entity to be authorized by 'SCA - Securities and Commodities Authority as a 'General Cleaning Member' providing clearing and settlement solutions to trading individuals of the UAE's equity markets.

" With the signing of Al Fajer Stocks, Emirates NBD continuouslies improve its suggestion to the UAE's equity markets," said Tariq Bin Hendi, Executive Vice President and Head of Products & Advisory, Emirates NBD Group. "We presently provide UAE-based brokerage companies a series of devices and products along with access to credit centers to boost their operational and price effectiveness."

Ali Mohammed Saeed Al Badi Al Dhaheri, Chairman of Al Fajer Securities, said: "Al Fajer Stocks has actually been related to Emirates NBD for more than a years in banking and economic services. We expect growing and creating this partnership to supply our clients with leading services in this area in the coming phase."

Seen here in the picture are Mr. Nabil Farhat, Partner Al Fajer Stocks, and Mr. Deeptha Premasinghe, Head, General Cleaning Member Solutions at Emirates NBD.