National Commercial Bank in collaboration with Mashreqbank introduces UAE-based stock trading option

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'The UAE stock market has experienced significant growth in 2005 due to accelerated economic expansion in the Emirates, rising oil prices as well as the increased trading in shares by new investors. NCB is committed to offering its customers continuous opportunities to diversify their investments in promising markets and believe that our partnership with Mashreq Bank will assist us in delivering this service in a timely manner,' explained Mr. Hani Ahmad Showe'er, Head of NCB's Brokerage Division.

NCB customers are able to trade in UAE stocks directly through the bank's International Brokerage Services division or via the internet. The minimum balance required for direct trading is SR500 000 and SR250 000 via the internet.

'NCB is the largest bank in the Kingdom of Saudi Arabia with an impressive client base. By jointly introducing this new service we are able to provide the best opportunity for customers wanting to trade in the UAE stock market,'

commented Mrs. Rola Moh'd Mahouz, Head of Brokerage at Mashreqbank.

The trading value in the UAE stock market reached DHS215 billion in the first half of 2005 compared to DHS67 Billion in 2004.