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DIFX eyes Dirham Listings to Boost Liquidity - ASHARQ AL-AWSAT English Archive
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DUBAI, (Reuters) – Dubai International Financial Exchange, where company shares are listed in dollars, may allow companies to list their stock in dirhams as part of a plan to boost liquidity, its chief executive said on Monday.

The DIFX is seeking to create an environment that fosters regional and international trading on the highly illiquid exchange, Jeffrey Singer told a conference.

Pending regulatory approval from the Dubai Financial Services Authority, the exchange could allow dirham-denominated stocks to list, extend trading hours and open on Sundays to give broader access to United Arab Emirates-based brokers, Singer said.

Dubai set up the DIFX in 2005 to encourage local companies to sell shares to the public, and for foreign companies to tap Gulf Arab wealth.

Unlike other Gulf exchanges, DIFX, 33 percent owned by Nasdaq OMX Group, operates according to international standards of accounting and financial reporting.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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