Dubai – Nasdaq Dubai and leading brokerages that trade on its market rang the market-opening bell today to celebrate UAE National Day and the country’s successful development of its capital markets.
Executives from 13 UAE brokerages that trade equities and equity derivatives on exchange took part in the ceremony at the MarketSite event space.
His Excellency Essa Kazim, Governor of the Dubai International Financial Centre (DIFC) and Chairman of Dubai Financial Market, said: “The enthusiasm shown here today by leading brokerages in the UAE as we celebrate National Day reflects the appreciation of the capital markets community for the positive environment created by the country’s leadership for the sector to thrive. Together we look forward to further increasing the opportunities for issuers and investors to prosper and achieve their goals.”
Hamed Ali, Chief Executive of Nasdaq Dubai, said: “It give us great pleasure to gather here with our partners, as the market, celebrating 47 years of achievements. The capital market plays a key and complementary role in realising the UAE’s vision set by our leaders. The UAE market has a number of unprecedented achievements at both regional and international levels, including being home to the only regional central counterparty recognised by the European Securities and Markets Authority (ESMA), and hosting the world’s largest listed Sukuk market.”
Participants in the ceremony included senior executives of ADCB Securities, Al Ramz Capital, Al Safwa Mubasher, Arqaam Capital, Brokerage House Securities, Daman Securities, Deutsche Securities and Services, Emirates NBD Securities, FAB Securities, Integrated Securities, Menacorp, SHUAA Capital and SICO Financial Brokerage.
Ayman Ghoneim, Chief Operating Officer of Al Ramz Capital, said: “We greatly appreciate the stable and supportive environment that currently exists in the UAE for capital market activities, in terms of laws, regulations and commercial opportunities. These conditions have enabled us to seize opportunities that will support our growth and development across all sectors which in return will be reflected positively on our institutional and individual clients.”
Ehab Rashad, Chief Executive of Al Safwa Mubasher, said: “The UAE authorities are well known for their forward-thinking and progressive approach in promoting flourishing and innovative financial markets. This mindset has created a successful environment for companies to raise capital and investors to access a wide range of opportunities.”
Abdel Hadi Al Sa’di, Managing Director of Brokerage House Securities, said: “Capital market participants in the UAE have benefited from working closely over many years with the UAE authorities, who have been very responsive to our needs. The UAE markets are set for further expansion and growth in future with growing participation by companies and the wider public.”
Manoj Aidasani, Head of Securities Services – GCC at Deutsche Securities and Services said: “The UAE has for many years acted as a strong link between the financial markets of the MENA region and the world, enabling an inflow of capital from overseas and opening up new opportunities for investors. These beneficial relationships are likely to grow stronger as the country’s markets develop further.”
Moosa Ahmed, General Manager, Emirates NBD Securities said: “Over the years, the authorities have created, nurtured and strengthened a first class capital markets framework for the UAE. We are committed to helping further expand the markets in the national interest and for the benefit of issuers and investors in the region and around the world.”
Ayman Hamed, Group General Manager of Integrated Securities said, “We at Integrated Securities and in extension SHUAA Capital, are honoured to join Nasdaq Dubai in honour of the 47th UAE National Day at this bell ringing ceremony. From the early days of share trading and other capital markets activities in the UAE until today, we are truly proud to have played a role in supporting the development of the country’s economy alongside our partners and regulators. We look forward to further growth as the UAE leaderships continue to work towards further strengthening the financial markets environment and provide a sustainable and globally recognized financial ecosystem.”
Fathi Ben Grira, Chief Executive Office of Menacorp, said: “Capital markets participants of all kinds including brokerages, issuers and investors are benefiting from the support given to the sector by the UAE authorities. Through continuing discussion and information sharing, all parties involved will work together to further enhance the markets infrastructure.”
Bassam Khoury, General Manager of SICO Financial Brokerage, said: “The UAE is on the threshold of further dynamic developments in its capital market, which will benefit issuers seeking funds for expansion as well as investors looking for attractive returns. We look forward to further strengthening our relationships with our stakeholders to contribute to this growth.”
About Nasdaq Dubai
Nasdaq Dubai is the international financial exchange serving the region between Western Europe and East Asia. It welcomes regional as well as global issuers that seek regional and international investment. The exchange currently lists shares, derivatives, Sukuk (Islamic bonds), conventional bonds and Real Estate Investment Trusts (REITS).
The majority shareholder of Nasdaq Dubai is Dubai Financial Market with a two-thirds stake. Borse Dubai owns one third of the shares. The regulator of Nasdaq Dubai is the Dubai Financial Services Authority (DFSA). Nasdaq Dubai is located in the Dubai International Financial Centre (DIFC).
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