Officials during the signing ceremony | Courtesy: WAM
Abu Dhabi Securities Exchange (ADX) has entered into a partnership with Mashreq, a leading financial institution in MENA, in order to provide its customers with instant access to trading on the Exchange.
The partnership was formalized through a memorandum of understanding (MoU) with Mashreq and an access and process agreement with Mashreq Securities.
Under the agreement, ADX and Mashreq will collaborate to introduce a straightforward process for individuals to obtain a National Investor Number (NIN) and set up a trading account. The new process will eliminate the need to print, sign, and email documents, using a secure digital platform.
The partnership supports ADX’s strategy to leverage digital technology to increase access to investment opportunities and widen its investor base, ultimately enhancing market liquidity.
Abdulla Salem Al Nuaimi COO – ADX
“ADX is delighted to partner with Mashreq to provide its customers with quick and easy access to the growing number of securities listed on the Exchange. Working with partners to facilitate access to the unique growth opportunities offered on ADX supports our mission to drive opportunity and growth through an innovative, dynamic, and transparent marketplace. We have witnessed a robust pipeline of IPOs and listings last year and will continue to introduce more products and services that will further augment our offer to a growing number of investors locally and internationally.”
Mr. Aladdin Al Deesi, Executive Vice President & Head of Mashreq Gold, said, “We are thrilled to partner with ADX for supporting the growth and accessibility to UAE’s capital markets through our mobile banking proposition that will offer a seamless digital experience to all our customers. Through this strategic collaboration between Mashreq Securities and ADX, customers can generate an investor number (NIN), and open a brokerage account with Mashreq Securities in real-time without any paperwork.”
“The digital journey will also allow the clients to subscribe digitally to any upcoming initial public offerings (IPOs) with ADX through the Mashreq mobile banking app. We are committed to supporting the vision of the UAE to build a strong infrastructure for its capital markets and investors,” Mr. Al Deesi added.
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