Branch to allow trading in securities through Abu Dhabi & Dubai Financial Markets simultaneously
Recognizing the growing need of Islamic finance brokerage in Abu Dhabi, Sharjah Islamic Financial Services (SIFS), a subsidiary of Sharjah Islamic Bank, has opened its new branch in the capital recently. The new branch shall provide financial brokerage services to customers and stock market investors in the emirate.
During the inauguration, Mr. Saeed Mohammed Al Amiri, Chairman of SIFS said "the opening of SIFS branch in Abu Dhabi is in line with SIFS's strategic plan to expand and provide efficient and dedicated services to customers and investors, offering them wide range of Sharia compliant trading tools. Our decision to expand is reinforced with Abu Dhabi's active presence in the investment market."
Located adjacent to the offices of Sharjah Islamic Bank in Abu Dhabi, at Al Rabeeei Tower on Electra Street, Al Amiri said that the new branch in Abu Dhabi is seen as an expansion for the financial services of the company and its main offices in Sharjah Expo.
SIFS was formed late last year as a brokerage services subsidiary of Sharjah Islamic Bank. The company was developed after market analysis showed a lack of Shariah focused stock market services, even with the increasing popularity of Islamic banking. SIFS offers Islamic Shariah approved shares and sukuk trading at the highest international standards of service.
Al Amiri explained that "SIFS is a unique development in the market with a number of competitive edges which differentiate it from the other existing services. SIFS is one of the first companies to allow trading in securities through Abu Dhabi & Dubai Financial Markets simultaneously,"
"DFM and ADSM investor account opening and transfers can be done from SIFS premises together with online trading services available to customers to facilitate the trade of their stocks from anywhere in the world using state of the art technology," he concluded.
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Jorhie Alban
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© Press Release 2007
