ADX, DFM account for 20% of Arab exchanges’ liquidity
Photo used for illustrative purpose.
According to the weekly newsletter of the Arab Monetary Fund (AMF), Arab exchanges attracted liquidity amounting to nearly $10.28 billion last week, of which ADX and DFM share amounted to nearly $2.009 billion.
The newsletter noted that ADX’s liquidity increased by 2.22 per cent last week from $1.489 billion to $1.522 billion, while DFM’s liquidity surged by 41.4 per cent from $344.4 million to $486.06 million.
The Abu Dhabi Securities Exchange (ADX) announced recently that it has listed MBME Group PLC, which operates the region’s largest online utility and government services payment platforms. The Group, the first fintech company to list on ADX, made its trading debut on the Growth Market under the trading symbol MBME.
This achievement enables MBME Group to expand its offerings, access new markets and sectors, increase organic growth, and broaden its geographical focus to include various regions, in addition to transforming smart touch point kiosks into augmented, mixed, and virtual reality experiences.
MBME, a family-owned business, is the 14th company to list on the ADX Growth Market, supporting the strategy of Abu Dhabi and the UAE to diversify the economy through the expansion of technology, financial services and other dynamic growth sectors. The Growth Market delivered robust performance last year. The value of shares traded in 2022 exceeded Dhs29.8 billion, rising 88.1 percent year on year.
The digital consumer payment industry is a complex web of interlinked services that allow businesses to offer digital payment options to consumers for goods and services. In this dynamic landscape, MBME Group stands out as a leading provider of customised digitalisation solutions to government and government-related entities. Drawing on its extensive experience in digitalisation, MBME collaborates closely with its clients to develop state-of-the-art digital solutions that are tailored to meet specific needs.
