News

Dubai exchange completes first repo transaction

Islamic_dealThe Dubai Financial Market (DFM) has settled its first repurchase (repo) transactions. A repo agreement enables holders of securities on the exchange to borrow money using those shares as collateral, setting a price at which those shares can be repurchased at a future date. The method is seen as a way to generate additional liquidity for equity assets and as an alternative to traditional bank and broker-based loans. The DFM’s repo infrastructure, the first in the region, was launched in April 2018. The first transactions involved six million Gulf Navigation shares and 45 million Drake & Scull International shares. Equities First Holdings, a London-based shareholder financing company, was the first repo transactions provider. Maryam Fikri, chief operations officer and head of the clearing, settlement and depository division at DFM said the successful repo settlement shows the exchange is “creating value for its investors”, which it hopes will “lead to further improvement in trading activity” and encourage the creation of new products. ©2018 funds global mena

Executive Interviews

INTERVIEW: ‘Financing is the blood of Iran’s economy’

Amid a fresh wave of American sanctions, Romil Patel spoke to Meysam Hamedi, director of financial markets and instruments at Iran’s Securities & Exchange Organization (SEO).

INTERVIEW: Totally mega

In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...

Roundtables

South Africa asset management roundtable: Global rebound on ice

Experts discuss the investment implications of the coronavirus pandemic, a delayed rebound in global growth and dealing with South Africa’s energy issues head on. Chaired by Romil Patel in Cape Town.

South African roundtable: Taking the bull by the horns

Our panel discusses Chinese investment in Africa, financial institutions’ contribution to economic sustainability and regulatory concerns. Chaired by Romil Patel in Cape Town.