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Citi to offer custody services
to Nakheel sukuk investors

Staff Report / 23 May 2011

DUBAI - Citi is offering special custody services to clients who are scheduled to receive sukuks as part of Nakheel’s creditor settlement programme. “We are keen to hear from all Nakheel creditors who require a custody services for the sukuks and we currently offer special assistance with custody account opening, documentation as well as competitive pricing,” said Richard Street, Head of Securities and Fund Services, Middle East.

“Investors will benefit from the local expertise and the globally-consistent services of Citi’s dedicated DCC experts; a dedicated team of specialists has been allocated to guide customers through the entire process.”

Citi UAE has been offering Direct Custody and Clearing (DCC) services in all three UAE exchanges, Abu Dhabi Securities Exchange, Dubai Financial Markets and NASDAQ Dubai (where the Nakheel Sukuk will be listed) since 2008.

Direct Custody and Clearing plays an integral role in the capital markets by providing the clearing and settlement services required for broker dealers and global custodians to support trading and investing activities around the world.

 business@khaleejtimes.com

 
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