The Central Bank of the UAE has appointed Vermeg as the lead technology partner for a consortium tasked with establishing a Central Securities Depository for national debt and Sukuk, marking a significant step in strengthening the country’s capital market infrastructure.
The initiative forms part of the Central Bank’s broader strategy to enhance post-trade efficiency and boost the global competitiveness of the UAE’s financial markets. The planned CSD will serve as a core platform for the settlement and custody of government securities, supporting both traditional and digital financial ecosystems.
Officials said the project aligns with the bank’s vision of building an integrated operating environment for liquidity management and settlement, while meeting the highest international standards. It is also expected to attract investment and position the UAE for future growth in digital assets and financial innovation.
Saif Humaid Al Dhaheri, Assistant Governor for Banking Operations and Support Services, described the CSD as a cornerstone for a more resilient financial system. He noted that adopting advanced technologies will help the UAE keep pace with global developments and reinforce investor confidence.
Vermeg’s Chairman of the Supervisory Board, Badreddine Ouali, said the partnership reflects the firm’s experience in delivering post-trade and custody solutions to central banks and market infrastructures. He added that the project will support the development of a next-generation financial ecosystem and strengthen the UAE’s position as a leading global financial centre.
News Source: Emirates News Agency
