The Central Bank of the UAE (CBUAE) has announced that VERMEG, a global provider of mission‑critical technology solutions for market infrastructures, collateral management, and asset servicing, will serve as the lead technology partner in a consortium developing a Central Securities Depository (CSD) for national debt and Sukuk.
This step forms part of the CBUAE’s broader strategy to reinforce the backbone of the UAE’s capital markets and elevate their operational standards.
The initiative is designed to improve the efficiency and robustness of post‑trade operations, while also boosting the international competitiveness of the UAE’s financial markets.
It supports the CBUAE’s vision of creating an integrated environment for liquidity management and settlement that spans both digital and traditional custody functions, in line with the highest global benchmarks. The project also aims to attract investment and prepare the market for upcoming developments, particularly in digital assets and other forms of financial innovation.
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Building efficient infrastructure
Saif Humaid Al Dhaheri, Assistant Governor for Banking Operations and Support Services at the CBUAE, said, “The 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.”
Badreddine Ouali, Chairman of the Supervisory Board of VERMEG, said, “We are honoured to have been selected by the Central Bank of the UAE as its strategic technology partner for this important initiative. CBUAE’s vision for advancing the UAE’s capital market infrastructure is both ambitious and forward-looking. This appointment reflects Vermeg’s 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 UAE’s position as a leading financial centre.”