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09/05/2016 05:30 AST
Dubai Financial Market (DFM) said on Sunday it received a delegation from the Saudi’s Tadawul and briefed them in implementing cutting-edge Clearing, Settlement and Depository (CSD) mechanisms and procedures in line with the international best practices.
It is noteworthy that DFM’s fabulous record of employing CSD mechanisms, implementing numerous initiatives over the past years has eventually led to the upgrade of the UAE to “Emerging Market” status by international companies including “MSCI” and S&P Dow Jones, the DFM said in a statement.
Saudi Arabia tweaked rules last week to attract more foreign flows at a time when its public finances are taking a beating due to tumbling oil prices.
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