BankingBusiness

Alfa-Bank & First Abu Dhabi Bank: First banks in Russia and the UAE to join CLSNet

  • Emerging market leaders, Alfa-Bank and First Abu Dhabi Bank the first banks in Russia and the UAE to join CLSNet
  • Alfa-Bank and FAB agreed to initiate onboarding to CLSNet, a standardized, automated bilateral payment netting calculation service for over 120 currencies
  • CLSNet standardizes and increases the levels of payment netting in the FX market
  • Alfa-Bank, a leading Russian bank, and FAB, the UAE’s largest bank join the current CLSNet user community of global and regional banks
  • Further, Alfa-Bank and FAB are the first in their respective domiciles of Russia and the UAE joining CLSNet
  • CLSNet will allow Alfa-Bank to further develop its customer base and expand its business in the international market
Previous article
Desktop Metal: Buys EnvisionTEC, for $300M
Next article
GPS: Appoints Visa veteran Damien Gough as head of Apac
Laura M
Laura M
Laura is a financial reporter, editor, and researcher with a particular interest in fintech innovation, capital markets, and the evolving global banking landscape.

You May Also Like

FinTech

Swedish Court Delays Judgment in Klarna’s Antitrust Case Against Google

The court's decision is crucial for Klarna's operations in the competitive market. Highlights: Swedish court delays decision on Klarna's...
FinTech

Morgan Stanley Launches Bitcoin ETF, Expanding Crypto Offerings

The investment firm broadens its reach into the cryptocurrency market. Highlights: Morgan Stanley launches a Bitcoin ETF to enhance...
FinTech

HSBC Strengthens Position with Hong Kong Stablecoin Issuer License

The banking giant aims to support digital asset initiatives in the region. Highlights: HSBC receives a stablecoin issuer license...
FinTech

US Treasury Secretary Warns Banks About Anthropic’s New AI Model

Treasury Secretary highlights risks AI poses to financial stability. Highlights: US Treasury Secretary warns banks about the risks of...