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Commenting on the issue, Henry Azzam, Chairman of the DIFX said:
"Mashreqbank is the second UAE bank to list debt securities on the DIFX. This listing further strengthens the DIFX's position as an international exchange, for all financial players with an international outlook. We expect an increasing number of regional and international companies to issue various instruments on the DIFX within the next few months."
According to the bank's Chief Executive Officer, Abdul Aziz Al Ghurair: "The establishment of the DIFX is one of the most significant events in the development of capital markets in the Arab world. Mashreqbank will support this endeavour and will seek to broaden its relationship with DIFX."
The Mashreqbank FRNs are traded over the counter. This is a secondary listing of the securities, the primary one being on the Luxembourg Stock Exchange.
Nasser Al Shaali, Chief Operations Officer, the DIFX, said: "This listing reinforces Mashreqbank's continued support for and commitment to the DIFX and its excellent prospects. Mashreqbank is the largest private sector bank in the UAE and we are extremely pleased it is among the first institutions to list on the DIFX."
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Posted by Lara Lynn Golden, News Editor
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