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National Bank of Dubai Joins DIFX as Regional Broker

PUBLISHED ON 10-Jan-2007
National Bank of Dubai Joins DIFX as Regional Broker
NBD Investment Bank Limited (NBD-IB) has been accepted as the fourth regional bank to join the Dubai International Financial Exchange (DIFX) as a Member able to trade securities. NBD-IB is incorporated in the Dubai International Financial Centre and is part of National Bank of Dubai PJSC, one of Dubai's most prominent banks.

Shahzad Shahbaz, Chief Executive of NBD-IB, said: "This move enhances our capability to service the needs of both our regional and international issuer and investor clients. Additionally we hope to actively facilitate the development of the exchange's activities." .

In January 2006, NBD became the first company to issue a bond on the DIFX and the first issuer in any asset class on the exchange from the United Arab Emirates (UAE). The bank listed $750 million of Floating Rate Notes under its EMTN programme followed by another $500 million in October 2006.

Per E. Larsson, Chief Executive of the DIFX, said: "NBD-IB's arrival as a Member of the DIFX is a significant addition to the network of banks, brokers and other organizations that are linked to the exchange. These growing ties are driving the development of the DIFX as the region's international stock market.".

Hamed Ali, Executive Officer of the DIFX, said: "The exchange offers brokers a unique opportunity to develop their business with new and existing clients. More regional and international brokers are applying to join."

The number of DIFX Members has now reached 18 including many prominent international and regional banks and brokers.

About National Bank of Dubai Founded in 1963, the National Bank of Dubai is the oldest, locally incorporated bank in the Southern Gulf. Known as the bank with a performance that is second-to-none, NBD has built a reputation of stability and strength much appreciated by shareholders and customers alike. Recognizing this leading performance, NBD has been awarded with the Dubai Quality Award for the year 2005.

Offering diversified financial services, NBD is a leader in corporate banking. Its portfolio covers a wide range of services including transport, real estate, construction, manufacturing, tourism and service industries throughout the region. In addition, NBD's 'Private Office' provides private banking services, offering highly tailored solutions to preserve and protect the personal wealth of its customers. Along with supplying customers with a variety of exclusive service based products, secured facilities, Credit Cards, personal loans, , auto loans and home loans, the National Bank of Dubai also offers a variety of treasury products and services, advising customers on exchange markets and interest rate outlook. NBD, also recently launched Suhail Priority Banking Services, a premier banking service offering customers personalized relationship management and a host of exclusive products and services. Furthermore, NBD presents their customers with automated banking services, which consist of an internet service (NBD Online), a telebanking facility (NBD Telebank), and an SMS based service (NBD Mobile). With a comprehensive card portfolio that provides an array of benefits, the National Bank of Dubai has, over the years, built a wide ATM network as well as Point of Sale terminals in select locations throughout the UAE.

The National Bank of Dubai currently has an extensive branch network that includes 39 branches throughout the UAE. In addition, NBD also has a branch in London and a representative office in Tehran.

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