Clearstream has become the first International Central Security Depositary (ICSD) to accept the Bahraini Dinar (BHD) as eligible for settlement as of Monday 28th May.
Additionally, six new currencies, the Qatari Rial, the Guatemalan Quetzal, the Dominican Peso, the Vietnamese Dong, the Sri Lanka Rupee and the Mongolian Tugrik have been accepted by Clearstream as denomination currencies.
The move comes in response to growing demand by investment banks and issuers to issue and settle eurobonds denominated in BHD, Clearstream said in a statement.
“We are delighted to have been able to make the BHD eligible for securities settlements in Clearstream,” says Robert Tabet, head of Clearstream for the Middle East and Africa. “Coming after the acceptance of the United Arab Emirates Dirham last year, the eligibility of the Bahraini Dinar shows the growing importance of financial activity in the region as well as Clearstream’s commitment to help its customers accompany this growth.”