ABU DHABI: Abu Dhabi Securities Exchange (ADX) has received the award for Best Islamic Stock Exchange 2024 by the Global Islamic Finance Awards (GIFA).

The GIFA award committee recognised ADX for its efforts and contributions to the Islamic finance sector. In its evaluation, the committee considered several key factors, including the market capitalisation of Sharia-compliant financial instruments listed on ADX, which exceeds AED2 trillion (US$549 billion).

The committee also acknowledged ADX’s performance through its accredited brokerage firms that adhere to Sharia principles. Furthermore, the committee highlighted the wide range of innovative Islamic market products offered by ADX, including nine Sharia-compliant ETFs that span domestic, regional, and international markets.

ADX is currently developing its Islamic index and continues to expand its offerings to align with Islamic principles. Among these initiatives is the Endowment Shares service, which enables investors to donate shares from their ADX secu
rities account to fund charitable causes. Dividends from these donated shares are then used to support a variety of charitable endeavours.

Abdulla Salem Alnuaimi, Group Chief Executive Officer of ADX, said, “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.

“Our continued focus on increasing trading and liquidity has allowed us to facilitate the growth of Islamic finance and attract a wider investor base. This award reflects our dedication to excellence and our strategic goal of promoting sustainable investments in the region. We thank our partners and stakeholders for their continued support.”

Source: Emirates News Agency