Abu Dhabi, X November 2020: ADIB Securities, the leading Sharia compliant brokerage firm in the UAE and a wholly-owned subsidiary of Abu Dhabi Islamic Bank (ADIB), reported strong transaction volumes on its US trading platform during the first 9 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 U.S. stocks; and which has helped it triple its revenue in 2020 for the U.S. desk. Favorite shares being traded by customers include: Tesla, Microsoft, Pfyzer, Facebook, Nike etc.
Khaled Kurdieh, General Manager at ADIB Securities, commented: "Market volatility has now eased post the US elections and the positive news about Covid-19 vaccinations. 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 U.S. 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 U.S. equities has increased four-fold."
He added: "Launched in early 2019, ADIB Securities is the only broker in the UAE, and amongst the few worldwide, offering access to sharia compliant U.S. equities, with a wide range of stocks available to screen in multi sectors and industries. Furthermore, our clients can contact us during U.S. trading hours Monday – Friday and receive live support from a representative in Arabic and English. This is an exclusive and personalised experience provided by ADIB Securities in the UAE, as we are unaware of any other such support by another local brokerage provider during US market trading hours."
Working closely with clients to complement the digital offering with personalised support and guidance; ADIB Securities offers access to U.S. equities listed on the two largest exchanges in the world; the New York Stock Exchange (NYSE) and the NASDAQ, which lists some of the world's most valued and prominent corporations.
Ranked the number one Sharia compliant brokerage in the UAE, ADIB Securities provides a range of products to accompany the bank's wealth management offering. ADIB Securities provides a best-in-class trading experience, with intuitive trading tools, expert insight, and competitive rates using state-of-the-art technology.