CIB Global Securities Services
A 20-year track record in securing your stocks
Leveraging over 20 years of experience in the custody business and an expansive client roster made up of both large securities portfolios for institutional customers and high net worth clients, CIB is a market leader in custody services. The Bank services over 25,000 customers, performs more than 300,000 transactions per year, and has a current asset under custody portfolio worth over EGP 360 Billion diversified between (equities, treasury bonds, T-Bills, and Eurobonds). Its expansive distribution network of over 198 branches and +900 ATMs along with its highly skilled network of dedicated account officers allow CIB to offer client servicing unmatched by others in the market. Its efforts in this arena have been recognized by international institutions, with CIB having been named Best Sub-Custodian Bank in Egypt by Global Finance in 2018.
What are custody services?
Custody services typically include the settlement, safekeeping, and reporting of customers' marketable securities and cash. A custodian, or a custodian bank, is a specialized financial institution that holds customers' securities for safekeeping to minimize the risk of theft or loss. It facilitates clients' trading and investment activities as well as corporate actions such as cash dividends, stock dividends, stock splits, or the like.
Why do you need them?
According to Egypt's new Shareholding Companies Law Article no. 4 for 2018, all shareholding companies must be registered with the central depository — Misr for Central Clearing, Depository and Registry (MCDR). Accordingly, shareholders will require custody services to submit their physical securities for deposit at MCDR.
What are the custody services offered by CIB?
Safekeeping
The storage of assets or other items of value in a protected, digital area at the central depository to facilitate the trading of securities on the stock market.
Settlement
Carrying out the exchange of information in a securities transaction and the final settlement of the securities by carrying out client requests, reconciling them with orders received from brokers, and settling them with the central depository. All settlements are completed through the MCDR main system.
Cash/Stock Dividends
Facilitating collections for clients relating to all corporate actions such as cash and stock dividends, stock splits, etc.
Global Depository Receipts (GDRs)
Acting as the primary sub-custodian for all 16 GDR programs in the market. GDR programs allow local stocks to be traded on foreign exchanges.
Securitization
Providing securitization services to companies with a large portfolio of receivables that require a rapid injection of liquidity. Securitization bonds are issued against cheques receivables in the form of a special purpose vehicle (SPV) for a specified period. Securitization services often benefit specific types of clients, such as those in the car financing, leasing, and real estate segments.
How do I register for custody services?
Visit your nearest CIB branch or contact us through (cib.gss@cibeg.com)
Other FAQs
- Is it mandatory to open a bank account to receive custody services?
Yes; it is essential for the purpose of collecting cash dividends and deducting any related fees.
- How and when do I pay fees?
Safekeeping fees are deducted annually directly from your bank account.
- How I get my cash dividends?
We'll collect it directly from the central depository and deposit it to your bank account and you can withdraw it easily from any ATM or you can withdraw large amounts from any of CIB branches or transfer it to any other bank through swift.
- What kind of report I can get?
All kind of reports are available such as (Balance statement, movement, cash dividends report, blocking certificates to attend general assembly meetings).
- How I can submit requests?
Through any CIB Branch or you can contact your RM directly.
