Emirates NBD Introduces Zero Transaction Fees for UAE Equity Investments

PC: MEA Finance

One of the MENAT (Middle East, North Africa and Türkiye) region’s leading banking groups, Emirates NBD has now announced a new initiative that, according to it, will now allow its customers to invest in UAE equity markets with zero commission on transactions. This, it is said, will promote domestic stocks and lead to further economic development within the UAE.

This fits within the aggressive ‘We the UAE 2031’ vision for the country, where it aims to secure the UAE’s position as a global economic partner and large financial centre of influence. The bank is positioning itself to help customers invest in local equity markets as part of supporting the UAE’s wider economic agenda.

Supporting the UAE’s Economic Vision

Under the initiative, Emirates NBD will also provide free of charge access to all its customers to view and trade in UAE equities on the ENBD X mobile banking app. The app allows the access of more than 150 regional equities through it and thereby makes local stocks trading easier for customers without any charge.

Marwan Hadi, Group Head of Retail Banking and Wealth Management at Emirates NBD, emphasised that the bank remains committed to its efforts to develop the UAE economy. He said that Emirates NBD continues to finance the real economy of the UAE and contributes toward long-term economic growth and development of the region. Being a leading national bank, they continue to introduce beneficial initiatives that help in advancing the financial prosperity of their customers.

He further clarified that investing in local stocks would directly affect the prosperity of home-grown businesses and firms directly benefiting the national economy. This would, in turn, aid the achievement of the bank’s broader strategic objectives.

Increasing Access to Financial Markets

The group’s digital wealth platform allows for trading in local equities and also an opportunity to invest in a variety of global equities. Currently, the bank is allowing its customers on its mobile app to trade over 11,000 global equities and more than 150 regional equities. Combining these equities proves to be diverse and offers investors a unique opportunity to explore financial markets within and outside the UAE.

The bank has continuously enhanced its wealth management platform since its launch in 2023. Emirates NBD recently added fractional bonds trading on the platform, among other new inclusions this year. All of these efforts form part of what the bank keeps doing toward making investment opportunities more accessible to customers and making financial markets more accessible.

The ENBD X app is designed to cater to the needs of a wide range of investor needs, from everyday banking transactions to complicated financial trades. One of its strong points is the Secure Sign facility, which helps customers secure up-to-date and signed copies of investment documents, regardless of their complexity or size in the transaction. This feature becomes very useful for high-volume traders, as all their trading activities could be efficiently managed within the application.

Commitment to Customers’ Financial Growth and Prosperity

Emirates NBD zero-fee initiative should attract a good number of investors who are seeking to diversify their portfolios through investing in the fast-growing equity market of the UAE. The removal of the transaction cost barrier allows new and experienced investors increasingly to participate in the country’s financial markets with liquidity thus supporting the growth of local businesses.

According to Hadi, the new initiative gives investors access to local equity markets but also allows them to explore and invest in domestic stocks free of cost. This offers an opportunity for adding diversification in their portfolios. The initiative aligns well with the overall mission Emirates NBD has placed for itself which is to contribute to the financial well-being of customers and foster economic development in the country.

The bank will strengthen its position as the UAE’s global investment hub, reflecting its persistent cooperation closely with the UAE’s government, regulators, and private sectors.

This new initiative is expected to open the way for more investors to engage with the local market, thus contributing to the progress of the nation’s economy and fulfilling the objectives mentioned in the ‘We the UAE 2031’ vision.