UAE Central Bank picks Vermeg for debt and Sukuk market platform - Gulf News

Summary

The UAE Central Bank has selected Vermeg, a global software company, to develop and implement its new debt and Sukuk market platform. This platform aims to modernize the issuance, trading, and settlement of government debt instruments and Islamic bonds within the UAE. The initiative is part of the Central Bank's broader digital transformation strategy for the nation's financial sector. Why it matters: This move is crucial for enhancing the efficiency, transparency, and liquidity of the UAE's sovereign debt and Islamic finance markets, underpinning financial stability and growth.