Al Ramz to provide services outside UAE
Abu Dhabi, January 4, 2012
Al Ramz Securities, one of UAE’s leading brokerage houses, has obtained a license from the Securities and Commodities Authority (SCA) to provide brokerage services outside UAE.
Clients will now be able to trade without the intercession of brokers outside of the UAE, as Al Ramz has been authorised to build direct relations with brokers outside UAE.
“Foreign transactions are gaining greater importance across the global economy. Investors are showing increased interest in the international markets, particularly in terms of foreign exchange and financial derivatives,” said Mohammad Al Murtada Al Dandashi, partner and managing director, Al Ramz Securities.
“As part of our efforts to maintain our strong position and deliver on our promise of providing diverse services to our clients, we have recently obtained SCA approval to provide brokerage services outside UAE. This opens up various investment areas and options to our clients and will enable investors to further diversify their portfolio while reducing risks, as they will no longer be obliged to approach brokers outside UAE,” he continued.
“Moreover, through such developments Al Ramz will have the opportunity to grow its income and promote its solid financial status after surviving the harsh market conditions of the past few years. All brokerage houses have been negatively affected by the weak trading and the reluctance among investors to trade in the local markets,” Al Dandashi added.
Abdel Hadi Al Sa'di, COO, Al Ramz Securities, said: “We have been securing the necessary electronic systems and human resources to turn this vision into a reality.”
“Now we are working on concluding all the procedures and agreements with brokers outside of the UAE to launch the service. We are initially eyeing Saudi Arabia, Kuwait, Qatar and Oman markets, followed by Bahrain, Egypt and Jordan, before moving on to other international markets. We expect implementation by next year, God willing.”
As the first local brokerage firm licensed by the Securities and Commodities Authority to provide advisory services to its customers, Al Ramz can help existing and potential customers make sound investment decisions based on scientific grounds and principles.
The company offers market roundups, equity interim notes, pre-listing briefs, and stock reports, along with a comprehensive portfolio of traditional, electronic and Islamic brokerage services. – TradeArabia News Service