BH Mubasher Financial Services PJSC, a leading company in the UAE’s financial market, recently obtained a license as a Securities Lending and Borrowing Agent from the Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM).
Securities lending and borrowing is the process of ownership of securities being temporarily transferred from one party (the lender) to another (the borrower), with the borrower’s commitment to return the ownership at any time within or after the end of the agreed period.
The license permits BH Mubasher to execute transactions using the SLB facility in ADX and DFM and authorizes the company to act as a lending and borrowing agent and process securities transactions on behalf of others.
Abdel Hadi Al Sa’di, Chief Executive Officer at BH Mubasher, said, “We are pleased to obtain this license as a securities lending and borrowing agent, which will enable us to extend even more financial services for our clients and strengthen our position as a financial services provider in the financial market.”
Al Sa’di praised the Abu Dhabi Securities Exchange and the Dubai Financial Market for their efforts to support opportunities with the UAE’s financial market, in line with its responsive strategy which focuses on innovation and strengthening the financial landscape in the region.
BH Mubasher Financial Services PSC is a private joint stock company listed on the Dubai Financial Market, with a paid-up capital of AED 564 million, and provides a wide range of financial services and investment products.