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Standard Chartered hosts meeting between Abu Dhabi Exchange and UAE Custodians

Meeting is an Abu Dhabi Exchange initiative which aims at developing the UAE custodial market

UAE - 18, June, 2013 - Standard Chartered hosted the Quarterly UAE Custodians meeting, an Abu Dhabi Exchange (ADX) initiative, at its new Dubai headquarters in Downtown Burj Khalifa.

The meeting was chaired by Shikkoh Malik, Regional Head of Investors and Intermediaries products for Middle East, North Africa and Pakistan (MENAP) and was attended by Rashed Al Baloushi, CEO of Abu Dhabi Exchange, Mohamad Al Muhairi, Head of Central Securities Depository for Abu Dhabi Exchange and representatives of other custodian banks operating in the UAE, including National Bank of Abu Dhabi, HSBC, Citi and Deutsche Bank.

During the meeting, participants discussed various initiatives that aim at developing the custodial sector and enhance the efficiencies in the post trade environment. The attendees also discussed areas of cooperation to further streamline processes, adopt best international practices and steps to bring additional asset protection for investors of all types.

Commenting on the meeting, Shikkoh Malik said:

"The UAE custodial market is witnessing fast-paced changes with great support from all the concerned stakeholders to position the UAE as a benchmark for this industry in the region. We are glad to host this round of the meeting and would like to thank Abu Dhabi Exchange for its efforts in supporting the UAE Custodians."

Last year, Standard Chartered announced the expansion of its Regional Custody coverage for Investors and Intermediaries from its MENA Regional hub in the Dubai International Financial Centre to cover more than 40 markets across Asia, Africa, and the Middle East, making it the most comprehensive Regional Custody coverage offering of any service provider in the Middle East.

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For further information please contact:
Ramy Lawand
Senior Regional Manager, Corporate Affairs,
Tel: +971 4 508 2564
Mob:+971 56 675 9894

Note to Editors:

Standard Chartered – leading the way in Asia, Africa and the Middle East
Standard Chartered is a leading international banking group. It has operated for over 150 years in some of the world's most dynamic markets and earns around 90 per cent of its income and profits in Asia, Africa and the Middle East.

This geographic focus and commitment to developing deep relationships with clients and customers has driven the Bank’s growth in recent years. Standard Chartered PLC is listed on the London and Hong Kong stock exchanges as well as the Bombay and National Stock Exchanges in India.

With 1,700 offices in 68 markets, the Group offers exciting and challenging international career opportunities to over 89,000 staff. It is committed to building a sustainable business over the long term and upholding high standards of corporate governance, social responsibility, environmental protection and employee diversity. Standard Chartered’s heritage and values are expressed in its brand promise, 'Here for good'.

For further information please visit Follow Standard Chartered at and on Twitter @StanChartMENAP.

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