UGB inks Bahrain Bourse deal
Manama, January 18, 2012
United Gulf Bank (UGB) said it has signed an agreement with the Bahrain Bourse to provide its brokerage services to the investors at the bourse.
"Bahrain is one of the most well established and respected financial centres in the region," said UGB chairman Masaud Hayat.
"Obtaining the licence to trade on the Bahrain Bourse is aligned with our strategy to expand our services to our Middle East and North Africa clients, and strengthens our close association with the bourse," he added.
"We are pleased to have the UGB join the brokerage companies at the bourse, and I am certain that the bank, with its broad experience and competent cadre, will represent additional value to the bourse," said bourse director Fouad A Rahman Rashid.
"I hope that this will positively reflect on the bourse's trading activity. The bourse will continue its co-operation with parties concerned with its activity, especially brokers, to carry out possible actions that will develop all work aspects at the bourse in a way that will benefit everyone," he added.
With the joining of the UGB, the number of registered brokers at the bourse has increased to 12.-TradeArabia News Service