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30/12/2010 00:00 AST
Union National Bank (UNB) is the first bank in the UAE to have obtained license certificate from the Securities & Commodities Authority (SCA) to act as a Share Registrar for any private shareholding companies in the UAE, a statement said on Wednesday.
"As per the Ministry of Economy (MoE) Resolution No 370 of 2009, all private joint stock companies registered under the MoE and operating in the UAE are required to appoint a Licensed Share Registrar. By obtaining this license, Union National Bank will be the first bank to obtain this license to be able to provide that service to joint stock companies," Galal Khadr, SVP & Head of Private Banking & Wealth Management Division commented.
Among the key services that UNB will be providing through its registration services to the private shareholding companies are stocks transfer between shareholders, dividend distributions, stocks pledge and any other corporate action transactions, the statement added.
Business 24|7
Ticker | Price | Volume |
---|---|---|
SABIC | 114.77 | 5,915,941 |
SAMBA | 26.98 | 1,138,683 |
STC | 83.41 | 257,644 |
DARALARKAN | 13.47 | 74,648,349 |
ADX 4,608.97
23.76 (0.52
DFM 3,091.15
-9.24 (-0.30
Ticker | Price | Change |
---|---|---|
EMIRATESNBD | 10.65 | 0.05 (0.47 |
EIB | 9.50 | 0.00 (0.00 |
EMAAR | 5.61 | -0.03 (-0.54 |
EMAARMALLS | 2.16 | 0.00 (0.00 |
DIB | 5.30 | 0.00 (0.00 |
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