By Staff Reporter
The Central Bank of the UAE has appointed Vermeg as the lead technology partner in a consortium tasked with establishing a Central Securities Depository (CSD) for national debt and sukuk, in a move aimed at strengthening the country’s financial market infrastructure.
The new CSD will function as a central platform for the settlement and custody of government securities, forming a critical component of the UAE’s broader strategy to improve post-trade efficiency and enhance the global competitiveness of its capital markets. Authorities say the system will support both conventional and digital financial ecosystems.
According to officials, the initiative aligns with the Central Bank’s vision of creating an integrated framework for liquidity management and securities settlement, while adhering to international best practices. The project is also expected to attract foreign investment and support the UAE’s ambitions in digital assets and financial innovation.
Saif Humaid Al Dhaheri, Assistant Governor for Banking Operations and Support Services, described the CSD as a key pillar in building a more resilient financial system, adding that advanced technologies will help maintain investor confidence and keep pace with global developments.
Meanwhile, Badreddine Ouali, Chairman of Vermeg’s Supervisory Board, said the partnership highlights the company’s experience in delivering post-trade and custody solutions to central banks. He noted that the initiative would contribute to a next-generation financial ecosystem and reinforce the UAE’s standing as a leading global financial hub.
Source: Emirates News Agency
