Abu Dhabi Securities Exchange (ADX) recently received the ‘IBMC UAE-INDIA Business Excellency Award 2018.
The award is a top international recognition that honors business excellence in India and the UAE.
The award ceremony took place at Emirates Palace hotel recently, as part of the closing ceremony of the second edition of the ‘IBMC UAE-INDIA Business Fest’.
The ten-month long business event, which runs from March until December and across all seven emirates, aims at exploring and connecting business opportunities in India and the UAE.
Government officials, top local and international business executives, CEOs and VIPs from all over the world attended the award ceremony.
Commenting on the award, Khalifa Al Mansouri, acting chief executive of ADX stated, “The UAE and India have traded and shared cultural ties for centuries, and the IBMC UAE-INDIA Business Fest is yet another example of the enduring relationship the two countries enjoy and the vast potential for growth. We are honored to receive the prestigious IBMC UAE-INDIA Business Excellency award, which recognises ADX’s achievements and contributions to the business world. We also commend, and are grateful, to the founders of the ‘IBMC UAE-INDIA Business Fest’ as it paves the way for the business communities from the UAE and India to explore tremendous new business and diversification opportunities across sectors."
As of mid-December 2018, ADX had 17,673 Indian investors on the exchange. Their total trading value (buy + sell) reached around AED 335mn from beginning of year up to mid-December of 2018 thus accounting for around 15% of the total trading value (buy + sell) of the Asian investors registered on ADX.
Market value of shares owned by Indian investors stood at around AED280mn as of mid-December 2018.
“The UAE market is a promising one and provides ample opportunities for investors, which is evident by the UAE’s top ranking in the region and tenth globally on the 2018 Index of Economic Freedom by The Heritage Foundation. This underscores ADX’s continuous efforts to strengthen the business climate, attract investment, provide economic stability and foster a flexible and competitive environment for business based on global best practices in disclosure, transparency and corporate governance,” Mansouri said.
Earlier this year, ADX was recognised with the Bridge of Excellence Award at The American Business Council (AmCham) Abu Dhabi’s 8th Excellence Awards. The award recognises an organisation that bridges the gap in bilateral trade relations and demonstrates a commitment to cross-border business alliances or joint ventures between the US and the UAE.