Dubai —In a bold move to transform the financial landscape of the Middle East and North Africa (MENA), Amana, a leading Dubai-based broker, introduced a groundbreaking strategy to enhance accessibility to the MENA stock markets. This initiative, launched in February, provides commission-free trading on the first $100,000 investment in MENA stocks, driving a significant increase in trading activities and customer engagement.
The impact of Amana’s new zero-commission policy was immediate and substantial. Within the first month of its implementation, the number of customers trading MENA shares surged by nearly 70%. This growth was accompanied by a staggering 190% increase in traded volumes of MENA stocks during the same period, with a further 200% rise in the following month. Moreover, customer deposits expanded by 37% initially, followed by an impressive 72% increase the next month.
Muhammad Rasoul, CEO of Amana, emphasized the company’s mission, stating, “Our mission at Amana is to democratize access to financial markets, making it possible for individuals from all backgrounds and skill levels to engage with and benefit from the region’s economic growth. The enthusiastic response to our zero-commission initiative confirms our commitment to this mission and excites us about the future.”
The MENA region is vibrant and dynamic, hosting over 1,000 listed companies with nearly $4 trillion combined capitalization. On the Amana platform, traders and investors can access various popular regional stocks such as SALIK, FAB Bank, ADCB, PARKIN, ARAMCO, and RAK Ceramics. These stocks represent some of the heavyweights in the region, reflecting the diverse economic activities that characterize the MENA markets.
The excitement adds to the excitement around upcoming IPOs, including those of significant supermarket chains Spinneys and Lulu. Amana plans to offer these shares for trading at zero cost once they are publicly listed, making it an attractive proposition for investors looking for new opportunities.
In addition to local and regional stocks, Amana extends its zero-commission trading model to include all asset classes. This includes U.S. stocks, global indices, commodities like gold, various currencies, and even cryptocurrencies. What sets Amana apart is the convenience of managing these diverse investments through a single account, simplifying the trading process for investors of all experience levels.
The comprehensive, zero-commission approach positions Amana as a leader in the financial services sector within MENA and as a facilitator of market participation. By eliminating the cost barrier, Amana empowers more individuals to invest and participate in the region’s financial growth.
Moreover, Amana’s robust platform features advanced trading tools and resources to support novice and experienced traders. These tools include real-time data analytics, customizable charts, and expert insights that help users make informed decisions promptly.
The company also prioritizes security and compliance, ensuring all operations adhere to the highest standards to protect investor interests. This commitment to security and transparency builds trust and reliability, attracting a growing number of investors to Amana’s platform.
As Amana continues to innovate and expand its offerings, the impact of its initiatives is likely to resonate well beyond the immediate surge in trading volumes. By fostering greater financial inclusivity and accessibility, Amana is playing a pivotal role in shaping the future of investment in the MENA region. This visionary approach benefits individual investors and contributes significantly to the region’s broader economic development, aligning perfectly with the strategic goals of Vision 2030.
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