Abu Dhabi Securities Exchange (ADX) has signed a memorandum of understanding with ADIB Securities, a leading Sharia-compliant brokerage firm, to collaborate on the development of a new digital onboarding platform.

The partnership aims to elevate investor experience, by providing a more user-friendly and efficient onboarding process, using a secure digital platform. The new platform will integrate the process of obtaining a National Investor Number (NIN) and accessing trading account APIs directly into the ADIB Securities’ mobile app and digital platform, eliminating the need to print, sign, and email documents.

Abdulla Salem Alnuaimi, Group Chief Executive Officer of ADX, said: “In the first 9 months of 2024, the number of new individual investors in ADX increased by 7% compared to the same period in the previous year, bringing the total number of investors on our platform to 1.1 million by the end of September 2024. This surge reflects the growing demand and interest from regional and international investors in accessing the capital market of Abu Dhabi.

Vital tools

“As an open exchange, ADX will continue to work closely with its brokerage community and channel partners to empower our investors with the vital tools and financial knowledge they need to thrive in their investment engagements.”

Mohamed Abdelbary, Acting Group Chief Executive Officer of ADIB, said: “This MoU underscores our shared vision to facilitate seamless, efficient business processes for our clients, enabling them to invest with greater ease and confidence. ADIB Securities continues to leverage cutting-edge technology to enhance the client experience and streamline services. The launch of a new digital onboarding platform—reflects our commitment to making investment more accessible, empowering individuals to confidently embark on their financial journeys. This initiative reinforces our dedication to providing innovative, secure solutions that meet the evolving needs of our customers and the market.”--TradeArabia News Service

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