Abu Dhabi – Mubasher: The UAE Securities Commodities Authority (SCA) approved Emirates NBD's request to undertake the clearing activity and be a general clearing member in local markets, according to a statement.

The bank is the first entity to get this approval after meeting the SCA’s conditions and requirements.

The bank will provide clearing and settlement services for brokerage companies and their customers, according to Obaid Saif Al Zaabi, acting CEO of the SCA.