Diamond Bank Plc, a leading retail bank in Nigeria with a track record of quality banking solutions for customers has been appointed as a member of the Board of FMDQ OTC Plc, Nigeria’s foremost debt capital, currencies securities exchange and derivatives over-the-counter securities exchange.
According to the letter of appointment obtained by our correspondent, Diamond Bank’s selection as a member to the board is because of its leadership in the financial space, which has been adjudged by stakeholders in FMDQ as relevant to FMDQ markets, as well as recognitions as a Financial Market Active Bank (FMAB) and a Systemically Important Bank (SIB).
Commenting on the appointment, Head, Corporate Communications, Diamond Bank Plc, Chioma Afe said, “This appointment is great news for us at Diamond as it not only validates our strategy, we also have an opportunity to develop the nation’s financial industry through the securities exchange”.
Diamond Bank will work in collaboration with other board members in setting out the broad operational and governance architecture designed to drive the OTC Securities Exchange.
The appointment and induction is effective from July 27, 2018.
About Diamond Bank Plc
Diamond Bank Plc is a leading Nigerian financial services company, which commenced operations as a private limited liability company on March 21, 1991. In May 2005, it was listed on The Nigerian Stock Exchange.
Today, Diamond Bank Plc a leading retail bank in Nigeria. A lead driver of financial inclusion, providing enhanced customer experience through innovation and technology. Regarded as supporter of lifestyle trends, its mobile banking app, “Diamond Mobile”, currently has over 2 million active subscribers on its platform. Diamond Bank has over the years leveraged its underlying resilience to grow its asset base and to retain its key business relationships.
It has also played a leading role in partnering with domestic and International bodies such as Women’s World Banking, The Gates Foundation, MTN, etc. to create easy access to financial services for the unbanked. We have cultivated excellent banking relationships with well-known international banks, allowing us to provide a range of world class banking services to suit the business needs of our clients
About FMDQ OTC Plc
FMDQ OTC Securities Exchange (FMDQ) was registered by the Securities and Exchange Commission (SEC), Nigeria, in 2012, and launched in 2013 as an OTC securities exchange with a primary focus on organizing and deepening Nigerian financial markets. It is the foremost debt capital, foreign exchange and derivatives over-the-counter securities exchange, strategically driven to transform the Nigeria financial markets through its “GOLD” (Global Competitiveness, Operational Excellence, Liquidity and Diversity) agenda.
With an average annual market turnover of about N118 trillion over the last three years, FMDQ operates the largest securities exchange in Nigeria. It is a self-regulatory organization (SRO) responsible for regulating the activities of its Members in the markets under its governance, through effective collaboration with key financial market regulators.