Taib Securities acquires 80 per cent stake in Redha Al-Ansari Shares & Bonds

The transaction, which has been authorised by the Central Bank of Bahrain and the Securities and Commodities Authority in the UAE, will result in a new entity named TAIB Securities L.L.C.

"This strategic acquisition brings us closer to establishing a significant footprint in the GCC", commented Iqbal G. Mamdani, TAIB Bank's Vice Chairman and CEO, and TAIB Securities W.L.L.'s Chairman. He added, "Expanding our brokerage business in the UAE is a good step which holds much promise. We're very pleased to have this new opportunity to bring world-class trading access to a new, local investor audience."

Ali Al Bastaki, who as Director Global Brokerage has been leading the expansion efforts for over a year, added "This taps us in to the Dubai Financial and Abu Dhabi Securities markets, and ultimately provides investors with more resources and better trading access all around. I especially look forward to introducing our Global Reach approach to investing, which provides access to global investment opportunities without the burden of having to manage and reconcile multiple investment holdings. Through a single account and with real-time viewing, investors can reach over 30 capital markets for equities, fixed income investments and commodities around the globe. It's a great convenience."

TAIB Securities W.L.L. was established in 1994. Since then, it has become a leading Bahrain-based brokerage company that serves both the public and private sectors. Along with offering Global Reach access to capital markets encompassing the GCC and MENA regions, Asia, Europe and the U.S., it is renown for highly rated proprietary GCC and India research provided free to registered subscribers.

It is a wholly owned subsidiary of TAIB Bank B.S.C.(c), whose investment banking and wealth management expertise has benefited a discerning clientele of institutions and private clients for over 27 years. TAIB Bank, listed on the Bahrain Stock Exchange, conducts business in the GCC, India, Turkey, Kazakhstan, the U.K. and the U.S.