ADIB Securities reports strong US share trading amid market volatility

Over the last ten months, ADIB Securities has quadrupled its customer-base for those trading US stocks

  
Image used for illustrative purpose. An investor looks up at electronic boards displaying stock information at the ADX Abu Dhabi Securities Exchange stock market October 23, 2012.

Image used for illustrative purpose. An investor looks up at electronic boards displaying stock information at the ADX Abu Dhabi Securities Exchange stock market October 23, 2012.

REUTERS/Stringer

ABU DHABI- ADIB Securities, a Sharia compliant brokerage firm in the UAE and a wholly-owned subsidiary of Abu Dhabi Islamic Bank, reported strong transaction volumes on its US trading platform during the first nine months of 2020 compared to the same period of 2019, despite the most volatile periods in international stock market history.

Over the last ten months, ADIB Securities has quadrupled its customer-base for those trading US stocks; and which has helped it triple its revenue in 2020 for the US desk. Favourite shares being traded by customers include: Tesla, Microsoft, Pfizer, Facebook, Nike etc.

Khaled Kurdieh, General Manager at ADIB Securities, commented, "We continue to focus on serving customers, upgrading our systems and expanding our client base beyond the UAE to complement our commitment to providing a universal sharia compliant trading platform with cutting-edge technologies.

Our clients can now access over 1,200 US sharia compliant stocks. This can help individuals diversify their investments into other markets. We have seen positive results from this initiative, as the demand to trade sharia US equities has increased fourfold." Kurdieh stated that ADIB Securities offers access to US equities listed on the two largest exchanges in the world; the New York Stock Exchange and the NASDAQ, which lists some of the world’s most valued and prominent corporations.

© Copyright Emirates News Agency (WAM) 2020.

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