Mashreq Bank uses multiple custodians to safekeep your securities for which we charge a nominal fee. We call this a safekeeping fee. Mashreq Gold safekeeping fees are applicable from the 1^st of February 2023.

Safekeeping charges on Equities, Exchange Traded Funds and Fixed Income Securities will be 0.25% p.a. of the value of assets under custody calculated on the average balance of assets under custody, are accrued daily and charged quarterly. VAT applicable over and above these charges.

The following types of investments have safekeeping fees:
1. Global Equities 2. Bond/Sukuks 3. Perpetual 4. Treasury Bills 5. Mutual Funds 6. Fixed Maturity Plans 7.Structured Notes

Safekeeping fees are charged four times a year in:
1. April (for January – March) 2. July (for April – June) 3. October (for July – September) 4. January of the following year (for October – December)
Please be reminded to have enough funds in your account so that your account does not get overdrawn on the settlement date of the safekeeping fees.

Safekeeping fees are calculated daily and then accumulated for each quarter of the year. The following formula is generally applied: 1. Daily Safekeeping Fee = [(Day-end Quantity) x (Day-end Price) x (Safekeeping Fee Rate) x (Daily FX Rate to USD) (as applicable)] / 365 2. Add up the daily safekeeping fees in a quarter to get the total amount of safekeeping fees that is chargeable for the past 3 months.