Dubai: Emirates NBD is marking a year since the launch of its groundbreaking zero-transaction-fee initiative for trading local equities via its award-winning digital wealth platform, accessible through ENBD X.
According to Emirates News Agency, the offering, launched on 26 August 2024, has significantly increased access to local markets, empowering investors to trade UAE-listed equities commission-free. The impact of the zero-transaction-fee initiative has been significant, with more than 300,000 commission-free trades executed on the Dubai Financial Market (DFM), Abu Dhabi Securities Exchange (ADX), and Nasdaq Dubai, resulting in AED 5 billion in total trade volume. Investors can access over 150 UAE-listed equities for trade via ENBD X.
The bank continues to enhance its mobile banking app, ENBD X, which integrates banking, investment, and advisory services into one seamless experience. ENBD X allows customers to invest in real-time on DFM, ADX, and Nasdaq Dubai, offering customisable price alerts functionality. This feature helps investors stay updated and respond promptly to market movements and opportunities, with a fully digital and instantly onboarding process.
In addition to boosting economic growth in the country, this initiative aligns with the UAE’s ‘We the UAE 2031’ national strategy to enhance financial inclusion and deepen capital market development. Emirates NBD continues to reinforce the nation’s position as an innovative investment hub. Through the zero-transaction-fee initiative, ENBD X is democratising wealth creation by removing barriers to entry and empowering first-time investors, young professionals, and everyday savers to build long-term wealth.
Marwan Hadi, Group Head of Retail Banking and Wealth Management at Emirates NBD, expressed satisfaction with the initiative’s reception, stating that customers have embraced purposeful investment in local equities. Hadi highlighted the bank’s commitment to transforming investment practices by providing an inclusive, accessible, transparent, and affordable platform, which supports local businesses and contributes to the UAE economy’s long-term growth.
In the previous year, Emirates NBD announced the launch of fractional bonds on the ENBD X platform, marking a pivotal moment in its journey towards increasing access to financial markets.