Abu Dhabi Securities Exchange (ADX) has signed a memorandum of understanding (MoU) with ADIB Securities, a leading Sharia-compliant brokerage firm in the UAE and a wholly owned subsidiary of Abu Dhabi Islamic Bank (ADIB), to collaborate on the development of a new digital onboarding platform.
The partnership on the digital onboarding platform aims to better serve investors and provide individual investors with easier access to listed companies and investment schemes available on ADX, and to elevate investor experience, by providing a more user-friendly and efficient onboarding process, using a secure digital platform.
The new digital onboarding 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 CEO – ADX
“We are pleased to partner with ADIB Securities on this innovative initiative, which aligns with our ongoing commitment to Abu Dhabi’s digital transformation strategy and reinforcing investor access to investment opportunities in ADX. In the first 9 months of 2024, the number of new individual investors in ADX increased by 7 percent 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. 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, stated that, “We are proud to collaborate with ADX on this important partnership, which marks a key milestone in our mutual commitment to advancing digital transformation in the financial sector. 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,” Abdelbary added.
