SABB joins Muqassa as general clearing member

19/07/2020 Argaam

Saudi British Bank (SABB) joined the Securities Clearing Center Co. (Muqassa) on July 14, 2020 as a general clearing member to conduct clearing activities in the Saudi Stock Exchange, the bank said in a bourse statement.

 

The step comes in line with initiatives of the Financial Sector Development Program (FSDP), the bank said, adding that its membership helps play a major role in providing the new clearing services.

 

According to data available with Argaam, Muqassa recently said it will commence operations on August 30, 2020, following the announcements of its establishment in 2018 and its license earlier this year.

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.