The Central Bank of the United Arab Emirates (CBUAE) has appointed Vermeg, a global provider of mission-critical financial technology solutions, as the lead technology partner in a consortium responsible for developing a Central Securities Depository (CSD) for national debt and Sukuk.
The new platform will form the backbone of infrastructure for recording, settling, and safeguarding government debt securities and Islamic bonds. It is expected to significantly modernize the way these instruments are issued, traded, and managed within the UAE financial system.
This initiative is part of the CBUAE’s broader strategy to strengthen the country’s capital market infrastructure. By improving post-trade processes, the platform aims to enhance operational efficiency, increase transparency, and further reinforce the UAE’s position as a leading global financial hub.
The project also supports the development of an integrated ecosystem for liquidity management and settlement across both digital and traditional custody systems. Designed in line with international standards, it is expected to boost investor confidence, attract foreign investment, and prepare the market for future advancements in financial innovation, including digital assets.
Saif Humaid Al Dhaheri, Assistant Governor for Banking Operations and Support Services at the CBUAE, stated that the development of a Central Securities Depository is a key milestone in building a more efficient and resilient financial infrastructure. He emphasized that the initiative will strengthen capital markets and enhance international investor confidence in the UAE.
Badreddine Ouali, Chairman of Vermeg’s Supervisory Board, expressed pride in the partnership, noting that the company’s expertise in post-trade, collateral management, and custody solutions positions it strongly to deliver a next-generation platform. He added that the project will improve market efficiency, support financial innovation, and further strengthen the UAE’s position as a leading global financial center.