FAB Introduces MENASSA: Advancing Asset Services in MENA 

First Abu Dhabi Bank (FAB) has launched MENASSA (MENA Securities Services for Asset Managers), a groundbreaking post-trade platform tailored for MENA-based asset managers. With Nimer Basbous, Group General Counsel (pictured), heading the legal department, MENASSA introduces sophisticated securities services to the region, offering a comprehensive suite of modular services including Global Custody, Fund Accounting, Transfer Agency, Performance and Risk Measurement, and Middle Office Services, fully integrated with FAB’s Capital Markets and Investment Banking capabilities. 

The platform underscores FAB’s commitment to innovation and technology, aiming to elevate the regional operating framework for asset and wealth managers by providing world-class services. MENASSA is strategically designed to navigate global regulatory complexities affecting investment flows while focusing on the specific requirements of the growing asset and wealth management sectors in the MENA region. Supported by client service and fund regulatory experts across the UAE, Saudi Arabia, Bahrain, Kuwait, and Oman, MENASSA aims to deliver services in alignment with local regulatory and operating requirements. 

According to PricewaterhouseCoopers’ (PwC) 2023 Global Asset and Wealth Management survey and 2027 projections, the Middle East is poised for significant growth in assets under management (AuM) despite regional regulatory complexities. FAB’s MENASSA platform is positioned to meet the evolving needs of asset managers in the region as they seek new markets and navigate industry expansion. 

Martin Tricaud, Group Head of Investment Banking at FAB, emphasized the alignment of MENASSA with the UAE government’s vision to establish the country as a global finance hub, providing asset managers with an innovative and comprehensive platform enriched with regional expertise. 

Kashif Darr, Head of Securities Services at FAB, highlighted the increasing prominence of the MENA region in asset and wealth management, driven by robust regulatory frameworks and initiatives. MENASSA is strategically designed to support the growth and complexity of the MENA investment industry, offering specialized expertise and product sets tailored to the region’s unique regulatory and operational landscape.