UAE's BH Mubasher obtains short-term margin trading license from DFM

License to allow clients flexibility in allocating investments

  
A woman walks through the Dubai Financial Market after Joe Biden won the U.S. presidency, in Dubai, United Arab Emirates November 8, 2020. Image used for illustrative purpose

A woman walks through the Dubai Financial Market after Joe Biden won the U.S. presidency, in Dubai, United Arab Emirates November 8, 2020. Image used for illustrative purpose

REUTERS/Christopher Pike

The Dubai Financial Market (DFM) has granted BH Mubasher Financial Services a short-term margin trading license.

With the new license, the investment firm’s customers will now be able to buy securities listed on DFM.

“The initial margin for the short-term margin trading product can be as low as 25 percent, which will allow clients flexibility in allocating their investments among different trading products,” the company said in a statement on Tuesday.

According to Abdel Hadi Al Sa’di, CEO of BH Mubasher, their company is the first financial services entity to obtain the license from DFM.

“To obtain this license from DFM as the first financial services company is further validation of our trusted position in the region,” Al Sa’di said.

“This license is another addition to the already extensive list of services that we provide our esteemed customers,” he added.

The company is listed on the DFM with a paid-up capital of 564 million UAE dirhams ($153.5 million). It offers a wide range of financial services and investment products to clients.

In March last year, the company obtained a short-term margin trading license from Abu Dhabi Securities Exchange.

(Writing by Cleofe Maceda; editing by Seban Scaria)

Cleofe.maceda@refinitiv.com

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© ZAWYA 2021

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