Mubasher: First Abu Dhabi Bank (FAB) has recently signed a depository agent agreement with Bahrain Clear to offer custody services to regional and international institutions in Bahrain Bourse.

Under the agreement, FAB will provide custody, issuer, and transfer agent services, as well as fund administration and other related banking services, according to a press release.

The agreement is part of the efforts of Bahrain Clear, a fully-owned subsidiary of Bahrain Bourse, to enhance post-trading services and increase the global investors base.

The Managing Director and Head of Securities Services at FAB, Kashif Darr, said: "FAB is expanding its regional direct custody footprint. With 50 years of presence, we are uniquely positioned to help our clients navigate the region."

It is noteworthy to mention that Bahrain Clear has chosen five securities custodians, including four global banks, to act in the market.