NBAD launches new dealing room

ABU DHABI - National Bank of Abu Dhabi (NBAD) has setup a new dealing room to trade on international financial markets.

By A Staff Reporter

Published: Wed 5 Mar 2008, 9:05 AM

Last updated: Sun 5 Apr 2015, 1:16 PM

Dr. Alan Greenspan, the former chairman of the US Federal Reserve, Khlaifa Mohamed Al Kindi, chairman of National Bank of Abu Dhabi (NBAD) and Michael H. Tomalin, Chief executive of NBAD, attended the launching of new dealing room at the Bank’s main office.

Greenspan lauded the NBAD’s state-of-the art dealing room handled by professionals to provide innovative financial solutions and products.

“We are delighted Dr. Alan Greenspan has attended the official launching of the new dealing room, especially as it comes in our 40th anniversary year. As the Number One Bank in the UAE, we are always keen to provide best and wide range of banking solutions and products to our esteemed customers” said. Mahmood Al Aradi, Senior General Manager of NBAD’s Financial Markets Group.

“The setup of the new dealing room, which on par with the international standards, will enable our professional and dedicated staff to offer best trading services in the local, regional and international markets” he added.

Financial Markets Division, which contributed Dh283 million, or approximately 11 per cent of NBAD group’s profits in 2007, provides wide range of financial products and services such as money markets and capital guaranteed investment notes, primary and secondary fixed income, futures, options, commodities, foreign exchange and structured solutions.

“The Foreign Exchange Department has wide capacity to execute large volumes of foreign exchange trades coming from branches, corporate, and institutional desks marketing efforts. We aim to have full 24-hour foreign exchange coverage to support customer flows”,senior general manager of NBAD’s Financial Markets Group concluded, Mahmood Al Aradi.

Debt and Capital Markets Group’ three teams manage portfolio of high rates and capital guaranteed notes, make markets in all GCC and regional issues whether bonds, sukuk or convertibles, and syndicate professionally any mandate that NBAD is awarded or jointly working solo or with international names in placing bonds in the region” he explained.

He further added: “International Money Markets Group manages the Bank’s overall liquidity needs, secures medium and long term funding. The IMM is also the largest market maker in AED spot, forward and cash and has recently enhanced it’s capabilities in pricing other GCC currencies as well.”

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