The services to be offered by the Citi in the market for KSE-listed securities include account management, settlements, safekeeping, pre-matching, registration, full asset servicing suite, income collection and payment of dividends and interest, market claims, handling post-trade issues, cash management, foreign exchange, reporting, market expertise and information services to clients.
With the launch of service, Citi will reach its network to 59 markets globally of which 33 markets are in Europe, the Middle East and Africa.
KSE Director General Hamed Al-Saif said that We welcome Citi, as one of the leading global custodians, on board to assist with the continued globalization of KSE’s investor base and to help increase foreign investment in Kuwait’s capital market."
Citi Kuwait chief executive Ziyad Akrouk said that providing Direct Custody and Clearing (DCC) services in Kuwait is an integral part of Citi’s plan to enhance its services in the country and falls in line with bank’s long stated objective of contributing to the meaningful development of the region’s financial markets in cooperation with solid partners such as KSE and Kuwait Clearing Company.
