A second Custodian Bank at Palestine Exchange

Tuesday, 30 September 2014

Palestine Exchange and Cairo Amman Bank signed a custody agreement by which the Cairo Amman Bank becomes the second custodian bank active on the PEX.
This agreement allows the Cairo Amman bank to provide custody services to international and local investors. These include maintaining securities under its custody, organizing and maintaining customer’s registries, receiving the value of sold securities and payment for purchased ones, sending periodic reports to customers regarding their portfolios and cash accounts and informing customers about issuer actions relating to dividends.
The Cairo Amman Bank will be working in addition to HSBC Middle East, which has been a custodian bank at PEX since 1999.