Friday 14 December 2018

Adib Securities launches trading on Saudi Stock Exchange

ABU DHABI, March 10, 2018

Adib Securities, the brokerage subsidiary of Abu Dhabi Islamic Bank (Adib), is now providing access for clients holding GCC nationalities to trade on the Saudi Stock Exchange (Tadawul), the Middle East’s largest bourse.

The new offering will enable GCC investors who currently hold a trading account with Adib Securities to trade on Tadawul.

The launch of this service represents the initial gateway which will enable investors to diversify their portfolio in sharia-compliant investment opportunities.

Khaled Kurdieh, general manager of Adib Securities, said: “We are delighted to expand our range of market-leading brokerage services and provide access for customers looking to trade on Tadawul. It is a proud moment for the entire team who worked hard to develop the opportunity for customers to trade stocks on one of the largest emerging markets bourses. At Adib Securities, our aim has always been to focus on investors looking for a universal sharia-compliant trading platform through cutting-edge technologies, superb client services and experienced team.”

With a market capitalization of $479 billion, the Tadawul is the 26th largest stock market among 68 members of the World Federation of Exchanges and comprises 48 per cent of total GCC market capitalisation and 74 per cent of value traded. The Tadawul is the 10th largest stock market amongst emerging market peers.

Over 67 per cent of transactions were carried out on Adib Securities digital platforms in 2017. Ranked the number one Islamic brokerage in the UAE, Adib Securities provides a range of products to accompany the bank’s wealth management offering. The broker provides a best-in-class trading experience, with intuitive trading tools, expert insight, and competitive rates using state-of-the-art technology. In addition, Adib Securities’ team of experienced professionals work closely with clients to complement the digital offering with personalised advice. - TradeArabia News Service

Tags: Saudi | trading | Stock | exchange | ADIB |

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