Central Bank of the United Arab Emirates Selects Vermeg for Central Securities Depository (CSD) Project
The Central Bank of the United Arab Emirates has chosen Vermeg, a Tunisian software editor for financial markets, to design and deploy its future Central Securities Depository (CSD). This system will centralize the management, custody, and settlement of national debt securities and sukuk - Islamic finance-compliant bonds.
Project Overview
The project is part of the UAE's strategy to modernize its capital markets, aiming to create an integrated infrastructure that covers both traditional and digital financial assets, in line with international standards. "This appointment reflects Vermeg's expertise in supporting central banks and market infrastructures," highlights Badreddine Ouali in the statement. From the Emirati side, Saif Humaid Al Dhaheri presented this system as a crucial pillar to strengthen the country's financial system resilience, consolidate international investor confidence, and support the growth of capital markets.
Key Points
- The Central Bank of the UAE has selected Vermeg to design and deploy its future CSD
- The system will centralize the management, custody, and settlement of national debt securities and sukuk
- The project aims to create an integrated infrastructure for traditional and digital financial assets, in line with international standards
- The system is expected to strengthen the country's financial system resilience, consolidate international investor confidence, and support the growth of capital markets.
