Crown Agents Bank has announced that it has secured in-principle approval for a Category 2 Licence of CAB global markets from ADGM’s FSRA.
Following this announcement, the initiative represents an important step in CAB’s strategy of development, aiming to deliver optimised services and experiences to the emerging markets it serves around the world. In addition, the licence is set to accelerate access to government, central banking, and other important stakeholders, as well as providing improved opportunities and relationships across CAB’s global network.
The process of securing this IPA also represents an important development in the institution’s global roadmap and a strategic focus on the region and the wider emerging markets. The bank will also focus on meeting the needs, preferences, and demands of clients and users, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
More information on Crown Agents Bank’s in-principle approval for Category 2 Licence of CAB Global Markets
According to the official press release, the company will remain committed to scaling its suite of offerings in Abu Dhabi and contributing to the UAE’s strategy of becoming a trusted international financial centre. At the same time, the institution is set to bring institutional-grade, secure, and transactional solutions to the region, as well as unlock opportunities for long-term growth for clients operating in the markets.
The IPA from the FSRA of ADGM also adds to CAB’s global regulated footprint alongside the UK, the Netherlands, and the USA in line with its strategy to build more localised relationships around the world.
This announcement follows Crown Agents Bank (CAB )'s partnership with Aditya Birla Global Trading, formerly Swiss Singapore, which focused on launching bespoke solutions that supported their expansion goals. Through the process of leveraging expertise and long-standing relationships across the African continent, Crown Agents Bank collaborated with ABGT to structure tailored solutions for their commodity business in Africa.
Earlier on, the bank chose Surecomp’s Trade Finance-as-a-Service (TFaaS) solution for fully connected digitalisation of its trade finance operations. Crown Agents Bank offered cross-border payments in more than 100 currencies across over 700 currency pairs, and through the process of leveraging Scurecomp’s TFaS, the bank was set to simplify its entire trade finance process, including origination, issuance, and settlement.
