Russian market, latest addition to 'Global Reach' by TAIB Securities

"The introduction of Russia under the 'Global Reach' Platform underscores our continuous commitment to the clients in terms of increasing their ease of access to the global equity markets and is a reaffirmation of the leadership of TAIB in the provision of global equity brokerage to clients in the GCC region." Said Syed Zahiruddin, General Manager of TAIB Securities WLL.

Russia is one of the top-10 economies of the world and is a member of the premier Emerging Market Grouping - BRIC (Brazil, Russia, India and China), its economy is estimated to have grown by over 7% in 2007.

Jamal Al Sheikh -Assistant General Manager at TAIB Securities WLL added "Russia is a major potential attractive investment destination for clients in the region as the confluence of economic factors (high economic, robust fiscal and external sustainability, and surging corporate sector growth) and market factors (undervaluation with respect to BRIC peers and humungous liquidity) should result in healthy returns in both absolute and relative terms in the near to medium term".

With this development, the total number of stock markets accessible under this platform has increased to 39 including Turkey and India.