ADIB Securities, the brokerage subsidiary of Abu Dhabi Islamic Bank (ADIB), is now enabling GCC citizen customers to trade on the Saudi Stock Exchange (تداول, Tadawul), the Middle East's largest bourse.
The new offering will enable GCC citizens to buy and sell shari'ah-compliant stocks on the Tadawul through ADIB Securities' digital and traditional trading channels.
Khaled Kurdieh, GM, ADIB Securities, said: "At ADIB Securities, we always try and exceed the expectations of our customers by developing leading products and then delivering them with exceptional service."
With a market capitalisation of US$479 billion, the Tadawul is the 26th-largest stock market among 68 members of the World Federation of Exchanges and accounts for 48% of total GCC market capitalisation and 74% of the value traded.
Over 67% of transactions were carried out on ADIB Securities digital platforms in 2017. Ranked the No. 1 Islamic brokerage in the UAE, ADIB Securities provides a range of products to accompany the bank's wealth management offering. The broker provides trading tools, expert insights, and competitive rates. In addition, ADIB Securities' team of experienced professionals complement the digital offering with personalised advice.
As part of its digital innovation strategy, the bank has also recently optimised its Internet and mobile banking platforms.