UAE: Saxo Bank, a Denmark-based online trading and investment specialist, has partnered with fund manager IdealRatings to identify Shariah compliant stocks and exchange-traded funds (ETFs) across 25 international exchanges, offering clients a broader range of investment options.
According to Jakob Beck Thomsen, the regional head of Middle East and CEO of Saxo Bank (Dubai), the bank sees strong growth in Middle East investment flows, with considerable appetite for international equities and products from local private and institutional clients.
He added that MENA activities now account for around 6% of the bank’s total revenues, doubling from a few years earlier.