Central Bank of the UAE (CBUAE) has announced the appointment of VERMEG as the lead technology partner of a consortium supporting the establishment of a Central Securities Depository (โCSDโ) for national debt and Sukuk.
According to the Industry sources, as a part of its strategy to boost the infrastructure of the UAEโs capital markets, the Central Bank of the UAE (CBUAE) has announced the appointment of VERMEG, a global provider of mission-critical technology solutions for Market Infrastructures, Collateral Management, and Asset Servicing, as the lead technology partner of a consortium supporting the establishment of a Central Securities Depository (โCSDโ) for national debt and Sukuk.
Industry sources confirmed that this strategic initiative is designed to boost the efficiency of post-trade operations while further strengthening the global competitiveness of the UAEโs financial markets. It aligns with the CBUAEโs vision to develop an integrated operating environment for liquidity management and settlement across digital and traditional custody activities, in accordance with the highest international standards.ย
This initiative also supports investment attraction and enhances market readiness for future developments, particularly in the areas of digital assets and financial innovation.
Commenting on this cooperation, H.E. Saif Humaid Al Dhaheri, Assistant Governor for Banking Operations and Support Services at the CBUAE, said: โThe development of a Central Securities Depository represents a key cornerstone in building a more efficient and resilient financial infrastructure, directly supporting the growth of capital markets and reinforcing the confidence of international investors in the UAE. Through this partnership, the CBUAE aims to adopt forward-looking technological solutions that keep pace with rapid global developments and strengthen the foundations of a future-ready financial ecosystem, capable of shaping the future the next generation of digital services.โ
Badreddine Ouali, Chairman of the Supervisory Board of Vermeg, said: โWe are honoured to have been selected by the Central Bank of the UAE as its strategic technology partner for this important initiative.ย The CBUAEโs vision for advancing the UAEโs capital market infrastructure is both ambitious and forward-looking. This appointment reflects Vermegโs long-standing experience in supporting central banks and market infrastructures with robust post-trade, collateral management, and custody solutions. We are proud to contribute to the development of a next-generation CSD that will enhance market efficiency, support financial innovation, and strengthen the UAEโs position as a leading financial centre.โ
