DUBAI/December 21-2020: BH Mubasher Financial Services, a leading company in the UAE’s financial market, recently obtained a licence as a Securities Lending and Borrowing (SLB) agent from the Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM).
Securities lending and borrowing is the process of ownership of securities being temporarily transferred from one party (the lender) to another (the borrower), with the borrower’s commitment to return the shares at any time within or after the end of the agreed period.
The license permits BH Mubasher to execute transactions using the SLB facility in ADX and DFM and authorises the company to act as a lending and borrowing agent and process securities transactions on behalf of others.
Abdel Hadi Al Sa’di, Chief Executive Officer at BH Mubasher, said this licence will enable the company to extend even more financial services for its clients and strengthen the position as a financial services provider in the financial market.
BH Mubasher Financial Services is a private joint stock company listed on the Dubai Financial Market (DFM), with a paid-up capital of AED564 million, and provides a wide range of financial services and investment products.