Dubai, United Arab Emirates – Emirates NBD Bank revealed the latest developments in the initiative to trade local stocks without applying fees to transactions. These developments are through its digital wealth management platform. Since its launch in August 2024, it has contributed to implementing more than 300,000 commission-free trading transactions. These transactions have occurred in the Dubai Financial Market, Abu Dhabi Securities Market, and Nasdaq Dubai.
The bank explained in a statement issued today that investors’ confidence and interest in trading increased. It grew by a total of 5 billion dirhams over 12 months. The initiative provided access to more than 150 stocks listed in the UAE. These stocks are for trading via the “ENBD X” application. The initiative, launched on August 26, 2024, contributed to significantly increasing access to local markets. It enabled investors to trade stocks listed in the UAE without commissions.
Mobile Banking Application
The bank continues to develop its mobile banking application “ENBD X”. This application allows customers to invest easily and instantly in the Dubai Financial Market, Abu Dhabi Securities Market, and Nasdaq Dubai. Additionally, it features adjustable price alerts upon request. This helps investors stay up to date and respond immediately to market movements and available opportunities. Investors are also witnessing a fully digital and instant joining process for trading.
In addition to promoting economic growth in the country, the initiative aligns with the national strategy “We Are the Emirates 2031”. The strategy aims to enhance financial inclusion and deepen the development of the capital market. Emirates NBD continues to consolidate the country’s position as an innovative investment center.
Through the local stock trading initiative without applying transaction fees, the “ENBD X” application makes the wealth creation process available to all individuals. It achieves this by removing obstacles to entry. It also enables new investors, young professionals, and savers on a daily basis to build wealth in the long term. Moreover, it allows them to participate in shaping the financial future of the United Arab Emirates.
Marwan Hadi, Head of Retail Banking and Wealth Management for Emirates NBD Group, said that a year after launching the initiative, customers have adopted a targeted approach to investing in local stocks. He noted they are constantly working to add new features to the ENBD X application. In addition to this, they are developing new products and services that meet the changing financial needs of customers. This will provide smarter, easier, and safer banking and investment experiences for the bank’s customers.
Last year, Emirates NBD announced the launch of fractional bonds on the ENBD X platform. This marked a pivotal moment in its journey towards increasing access to financial markets.
