Al Ramz Securities, one of UAE’s leading brokerage houses, has obtained a license from the Securities and Commodities Authority (SCA) to provide brokerage services outside UAE. Clients will now be able to trade without the intercession of brokers outside of the UAE, as Al Ramz has been authorized to build direct relations with brokers outside UAE.
“Foreign transactions are gaining greater importance across the global economy. “Investors are showing increased interest in the international markets, particularly in terms of foreign exchange and financial derivatives. As part of our efforts to maintain our strong position and deliver on our promise of providing diverse services to our clients, we have recently obtained SCA approval to provide brokerage services outside UAE. This opens up various investment areas and options to our clients and will enable investors to further diversify their portfolio while reducing risks, as they will no longer be obliged to approach brokers outside UAE,” said Mohammad Al Murtada Al Dandashi, Partner and Managing Director, Al Ramz Securities.
“Moreover, through such developments Al Ramz will have the opportunity to grow its income and promote its solid financial status after surviving the harsh market conditions of the past few years. All brokerage houses have been negatively affected by the weak trading and the reluctance among investors to trade in the local markets,” Al Dandashi added.
Abdel Hadi Al Sa'di, COO, Al Ramz Securities, said: “We have been securing the necessary electronic systems and human resources to turn this vision into a reality. Now we are working on concluding all the procedures and agreements with brokers outside of the UAE to launch the service. We are initially eyeing Saudi Arabia, Kuwait, Qatar and Oman markets, followed by Bahrain, Egypt and Jordan, before moving on to other international markets. We expect implementation by next year, God willing.”
As the first local brokerage firm licensed by the Securities and Commodities Authority to provide advisory services to its customers, Al Ramz can help existing and potential customers make sound investment decisions based on scientific grounds and principles. The company offers market roundups, equity interim notes, pre-listing briefs, and stock reports, along with a comprehensive portfolio of traditional, electronic and Islamic brokerage services.
Al Ramz manages a team of outstanding staff, administrators, brokers and analysts with a combined experience of more than 150 years who are highly qualified as Chartered Financial Analysts (CFA), Chartered Market Technicians (CMT) and Certified Public Accountants (CPA). This expertise supports the investment-related decisions of clients and enhances their ability to seize and maximize financial opportunities.
Based in Abu Dhabi, Al Ramz Securities is one of the top brokerage houses in the Abu Dhabi Stock Exchange (ADX) and the Dubai Financial Market (DFM). It offers a host of traditional, electronic and Islamic brokerage services through its branches in Abu Dhabi Dubai and Al Ain. Al Ramz Securities is the first brokerage company in UAE to be licensed by the Securities and Commodities Authority to provide financial research and advisory services to its customers.