Deutsche Securities Saudi Arabia announced today that it has commenced offering custody services on the Kingdom of Saudi Arabia’s stock exchange, Tadawul, thus helping the market provide an enhanced level of investor service and transparency.
In its capacity as a custodian, Deutsche Securities Saudi Arabia will offer account management, protection of client assets, settlement of securities activity, handling of post trade issues, the collection and payment of dividends and interest, and the processing of corporate action activities in the market.
Jamal Alkishi, Chief Executive Officer of Deutsche Securities Saudi Arabia said “We are extremely pleased to be able to extend our custody services into Tadawul and are looking forward to meeting the needs of both domestic and international clients.”
Deutsche Securities Saudi Arabia is one of a small number of international financial institutions offering such services on the Kingdom’s equity markets. Recently, Tadawul has benefited from an increased degree of openness and access to international investors via the introduction of Exchange Traded Funds (ETFs) and swap agreements.
Deutsche Securities Saudi Arabia is a subsidiary of Deutsche Bank. Deutsche Bank also offers custody services across all exchanges in the United Arab Emirates.