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Two Custodian Banks Joined Palestine Exchange
Dec 29, 2015
The National Bank and Bank of Jordan signed custody agreements raising the number of active custodian banks in PEX to five.
 
The custody agreement allows both banks to provide custody services to international and local investors. These include maintaining securities under their 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 National Bank and Bank of Jordan shall be working in addition to Cairo Amman Bank, Bank of Palestine and HSBC Middle East, which will stop its operations in June 2016.

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