Abu Dhabi, UAE—ADIB Securities, a Shari’a-compliant brokerage firm in the UAE and a wholly owned subsidiary of Abu Dhabi Islamic Bank (ADIB), reported over AED22 billion ($5.98 billion) in trades for the first nine months of 2022.
The Abu Dhabi-based brokerage reported a 149 percent increase in its Digital Trading platform utilization compared to the same period last year. The growth was largely driven by a strong increase in the number of transactions routed through the company’s digital channels, from 68 percent to 73 percent over the same period.
Khaled Kurdieh, General Manager at ADIB Securities, said the third quarte was a busy one for the firm and the number of new accounts opened grew by 87 percent and transactions by 83 percent.
“New IPOs and global markets volatility have provided investors with opportunities to trade more frequently while maintaining focus on the long term,” he said.