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

JPMorgan Pilots Software to Monitor Junior Bankers’ Working Hours

New initiative aims to enhance oversight of junior employee hours worked. Highlights: JPMorgan tests software to monitor working hours...
FinTech

Goldman Sachs to Implement Performance-Based Staff Cuts in April

The bank plans restructuring amidst shifting financial landscape. Highlights: Goldman Sachs plans performance-based staff cuts in April.The restructuring aims...
FinTech

Nasdaq Secures SEC Approval for Trading Tokenized Securities

This marks a significant advancement in digital asset trading. Highlights: Nasdaq gains SEC approval for trading tokenized securities.This approval...
FinTech

Aveni Launches Agentic AI Council to Enhance AI Ethics

New council aims to guide ethical AI development and deployment strategies. Highlights: Aveni establishes the Agentic AI Council for...