UAE – Mubasher: Dubai-based neobroker amana launched a groundbreaking strategy to boost access to the MENA stock markets for its customers, according to a press release.
In February, the investment service provider developed an initiative to enable customers to trade MENA stocks without incurring commissions, exchange fees, or clearing fees on their first $100,000 of investment.
The strategy aimed to encourage investment in the MENA region, which resulted in a surge in trading activities and customer engagement.
The number of amana customers trading MENA shares hiked by nearly 70% in the first month, while the traded volumes of MENA stocks jumped by 190%, followed by an additional 200% in the second month.
Muhammad Rasoul, CEO of amana, said: "Our mission at amana has always been to break down barriers to financial markets, ensuring that everyone, regardless of their background or level of experience, has the opportunity to participate in and benefit from the region’s economic growth."
More than 1,000 companies are listed in MENA, with an estimated cap of $4 trillion.
Popular stocks among amana’s traders and investors include SALIK, FAB Bank, ADCB, PARKIN, ARAMCO, and RAK Ceramics.
In addition to local and regional stocks, amana offers customers commission-free trading on all asset classes, including US stocks, indices, commodities, gold, currencies, crypto, and more.
It is also worth highlighting that amana is the first MENA broker to provide all assets from a single account.
