Al Ramz sees new licences, deals in 2012
Dubai, January 6, 2013
Al Ramz Securities, one of UAE’s leading brokerage houses, marked its growth in 2012 with several new services, major recognitions and key partnerships.
Al Ramz kicked off the year with the Emirates Securities and Commodities Authority (ESCA)’s January approval of its application to provide brokerage services outside UAE.
During the second half of the year, Al Ramz events and achievements accelerated where in July Al Ramz was the recipient of Nasdaq Dubai’s inaugural Retail Broker of the Month Award for handling 75 per cent of the exchange’s members and again in August for acquiring 57 per cent.
In September Al Ramz obtained the Margin Trading license and was among the first few companies that were granted this license.
In November Al Ramz marked another major milestone by introducing the UAE’s first-ever Islamic Margin Trading Service. The continuous growth and newly introduced services has contributed extensively to the company performance resulting in topping trade in the Dubai Financial Market (DFM) for the year 2012 and retaining the top ranking slots in Abu Dhabi.
Several commendations were given to Al Ramz for its exemplary work in the securities field as well over the past months. ESCA honoured the company for being among the industry pioneers that deployed, implemented and tested the eXtensible Business Reporting Language (XBRL) system for the UAE’s securities sector. In addition, the company was honored by DFM as an outstanding contributor to the latter’s Summer Training Program.
The year 2012 saw Al Ramz maintain its thrust towards key partnerships and deals. In May, it signed an agreement with Al Jazira Capital in Saudi Arabia to provide Al Ramz clients with access to ‘Tadawul’ – the Saudi Stock Exchange – as part of strategic expansion initiatives into the regional markets.
To broaden its securities coverage and expertise to meet evolving client and market needs, Al Ramz also forged a Research and Market Analysis alliance with Gulfmena Investments, a specialist asset management company operating in the Dubai International Financial Centre regulated by the Dubai Financial Services Authority.
Another strategic partnership was a deal with Dlala Brokerage and Investment Holding Company, the first non-banking financial institution in Qatar to be listed on the Qatar Exchange, to facilitate the execution of the transactions of Al Ramz clients in the local market. – TradeArabia News Service