Abu Dhabi Islamic Financial Services (ADIFS), ADIB brokerage arm and UAE’s biggest Islamic broker by market share, today announced the signing of an agreement with Tradenet, a leading regional order management solutions provider to the financial industry.
As per the agreement, Tradenet will implement the order management system for ADIFS to handle exchange trading activities and will extend ADIFS’ trading services to multiple markets through multiple channels.
In addition to face to face, landline, and IVR trading facilities; ADIFS’ customers will now be able to trade through a wide variety of channels including Internet, Reuters order routing interface and Tradenet’s proprietary and secure JNET order routing network over the MENA region. Tradenet’s order management system supports a wide array of service and product options and provides a comprehensive information management solution that increases trading efficiency and effectiveness.
Commenting on the reasons for choosing Tradenet, Malik Sarwar, ADIB’s EVP & Head of Global Wealth Management, said: “We are confident that the new order management system will sharpen our competitive edge. The system increases our flexibility to implement new products and services. It will reduce our cycle time for processing service orders and enhance overall customer satisfaction.”
Mohammed Mansour, President of Tradenet added,”Tradenet provides fully automated, multi-market, multi-currency, real-time accounting and settlement processes and professional end-to-end automation. The order is created, matched and settled in a 100 per cent automated manner while applying all the relevant market brokerage and company’s business rules that are configured in the system. We are confident that the implementation of Tradenet Order Management will help ADIFS augment their customer service with timely and well-managed order fulfilment.”
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About ADIB
Abu Dhabi Islamic Bank (ADIB) was established on 20th May 1997 as a Public Joint Stock Company following the Amiri Decree No. 9 of 1997. The Bank commenced commercial operations on 11th November 1998, and was formally inaugurated by His Highness Sheikh Abdullah Bin Zayed Al Nahyan, on 18th April 1999. The Bank carries out all contracts, operations and transactions in accordance with Islamic Shari'a principles. ADIB's mission is to offer financial solutions for the global community, and its vision is to become a top tier Islamic financial services group.
ADIB prides itself on its values which reflect the Bank’s commitment to the Islamic Shari’a, and the guidelines of the Bank’s practices adhere to the principles of Islam.
© Press Release 2009
