Finance House to inject AED300 million into Abu Dhabi capital market
Oct 22, 2024
Abu Dhabi [UAE], October 22: In a move to boost liquidity and stability within the UAE's financial markets, Finance House and Finance House Securities have signed an agreement at the Abu Dhabi Securities Exchange (ADX).
Aimed at enhancing liquidity in the local market and reinforcing financial stability, this partnership aligns with the Abu Dhabi Securities Exchange (ADX) vision and strategies.
Under the agreement, Finance House will inject AED300 million into the local market through Finance House Securities to increase investments and boost equity market liquidity.
T.K. Raman, CEO of Finance House, said, "This agreement reflects the commitment of Finance House and Finance House Securities to provide solutions that meet best practices. Our goal is to enhance liquidity and stability in the financial markets while stimulating economic activity in the UAE."
He added, "Innovation is crucial for success in the markets. The market's achievements, overseen by the Abu Dhabi Securities Exchange (ADX), are key to driving economic growth and sustainable development in the UAE, fostering investor confidence and stimulating broader economic activity."
Ayman Al Khatib, General Manager and Managing Director of Finance House Securities, said, "This agreement is a significant step towards maximising Finance House's financial resources, improving operational efficiency at Finance House Securities, and contributing to better capital utilisation. We also expect a long-term positive impact on the markets."
This agreement demonstrates the shared commitment to driving economic development in the UAE and empowering the market to achieve sustainable growth.
Source: Emirates News Agency
