First Abu Dhabi Bank Launches MENASSA Platform for MENA-based Asset Managers

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First Abu Dhabi Bank (FAB) has introduced MENASSA (MENA Securities Services for Asset Managers), a pioneering post-trade platform tailored for asset managers in the MENA region. MENASSA, derived from the Arabic word for ‘platform,’ offers a comprehensive suite of modular services, including Global Custody, Fund Accounting, Transfer Agency, Performance & Risk Measurement, and Middle Office Services. It integrates seamlessly with FAB’s Capital Markets and Investment Banking capabilities, aiming to elevate the sophistication of securities services in the MENA investment landscape.
The launch of MENASSA underscores FAB’s commitment to innovation and technology in enhancing operational frameworks for regional asset and wealth managers. By providing world-class services and scale development opportunities, FAB aims to empower asset managers to deliver superior client solutions amidst evolving regulatory and operational dynamics.
MENASSA addresses the region-specific needs of the asset and wealth management sectors, navigating global regulatory complexities impacting investment flows. FAB’s platform is distinguished by its component products, backed by dedicated client service and fund regulatory experts stationed across the UAE, Saudi Arabia, Bahrain, Kuwait, and Oman. These experts ensure alignment with local regulatory and operational requisites, further enhancing MENASSA’s appeal to MENA-based asset managers.
In light of projections from PricewaterhouseCoopers (PwC), which anticipate robust growth in assets under management (AuM) across Middle Eastern markets, MENASSA emerges as a strategic enabler for regional asset and wealth management organizations. PwC forecasts a significant expansion in AuM, with the Middle East poised to outpace other global regions in growth rates by 2027, despite inherent regulatory complexities.
Martin Tricaud, Group Head of Investment Banking at FAB, emphasizes the bank’s commitment to supporting the UAE’s ambition of becoming a global finance hub. MENASSA, as Tricaud notes, aligns with this vision by providing a comprehensive platform tailored to the evolving needs of asset managers in the region.
Kashif Darr, Head of Securities Services at FAB, underscores MENASSA’s role in facilitating the growth and complexity of the MENA investment industry. As the region attracts increased attention from both local and foreign investors, MENASSA stands poised to offer specialized expertise and product offerings tailored to the region’s unique investment landscape and regulatory environment.