Abu Dhabi Securities Exchange Named Best Islamic Stock Exchange For 2024 By Global Islamic Finance Awards

The Abu Dhabi Securities Exchange (ADX) has been honoured with the Best Islamic Stock Exchange 2024 award by the Global Islamic Finance Awards (GIFA). This recognition highlights ADX's significant contributions to the Islamic finance industry. The GIFA committee evaluated various factors, including the market capitalisation of Sharia-compliant financial instruments listed on ADX, which surpasses AED2 billion (US$549 million).

ADX's performance was also acknowledged through its brokerage firms that strictly follow Sharia principles. The exchange offers a diverse range of innovative Islamic market products. Among these are nine Sharia-compliant ETFs, covering domestic, regional, and international markets. These offerings demonstrate ADX's commitment to expanding its Islamic finance portfolio.

Currently, ADX is working on developing its own Islamic index. This initiative is part of their broader strategy to enhance their offerings in line with Islamic principles. One notable service is the Endowment Shares program, allowing investors to donate shares from their ADX securities account for charitable purposes. Dividends from these shares support various charitable activities.

Abdulla Salem Alnuaimi, Group Chief Executive Officer of ADX, expressed pride in receiving this accolade. He stated, "We are honoured to be recognised as the best Islamic Stock Exchange in 2024 by the Global Islamic Finance Awards magazine. This achievement is a testament to our unwavering commitment to providing a diverse range of Shariah-compliant financial instruments for retail and global investors."

Alnuaimi further emphasised ADX's dedication to enhancing trading and liquidity within the Islamic finance sector. By doing so, they aim to attract a broader investor base and facilitate growth in this area. The award underscores their strategic objective of promoting sustainable investments throughout the region.

Strategic Goals and Partnerships

The recognition from GIFA reflects ADX's dedication to excellence and strategic goals. Their focus remains on fostering sustainable investment opportunities in the Middle East. Alnuaimi extended gratitude towards partners and stakeholders for their ongoing support in achieving these objectives.

This award not only acknowledges ADX's current achievements but also sets a benchmark for future endeavours in the Islamic finance sector. With continuous innovation and expansion of Sharia-compliant offerings, ADX aims to maintain its leadership position in this field.

With inputs from WAM