In a strategic move that promises to enhance trading of its shares on the Abu Dhabi Securities Exchange, Bank of Sharjah announced today the appointment of Al Ramz Capital LLC as its official liquidity provider. The renowned market-maker’s engagement is expected to play a significant role in diversifying the investor base, with local, regional, and global investors.
Bank of Sharjah has long been a pioneer in the UAE’s financial sector. As the first Sharjah-based bank to offer 40% of its shares for public subscription, it was also one of the earliest national banks to list on the ADX and make its shares available for public trading on the secondary market.
According to Mohamed Khadiri, CEO of Bank of Sharjah, the new appointment was driven by the Bank’s commitment towards its investors and shareholders: “Our engagement of Al Ramz Capital LLC as a market-maker for ADX-listed shares will offer a solid foundation for our investors, fostering an environment of confidence and assurance, and paving the way for long-term growth potential.”
Referring to Bank of Sharjah’s historic ADX listing in the early 2000s, Mr. Khadiri noted that that the new partnership was also aimed at making Bank of Sharjah shares more readily accessible to regional and international investors.
Mr. Khadiri added: “Our aim is to facilitate greater investor participation and diversify our investor base while strengthening our market presence. Through our new agreement with Al Ramz Capital LLC, our investors will enjoy enhanced liquidity, narrower bid-ask spreads, and improved market stability.”
Widely renowned for proficiency in managing market liquidity, Al Ramz Capital LLC are projected to facilitate efficient and transparent trading in Bank of Sharjah shares, and significantly improve access for a wide range of traders, both institutional and individual.
Commenting on the appointment, Karim Schoeib, CEO of Al Ramz Capital LLC, said: “We are delighted to announce our appointment as the liquidity provider for Bank of Sharjah, a prestigious addition to our growing portfolio of mandates across various sectors in the UAE. This achievement reflects our proven expertise in delivering impactful results while maintaining the highest standards of governance and transparency. At Al Ramz, we are dedicated to ensuring a robust order book, promoting favourable trading conditions, and optimizing trading spreads. We warmly welcome Bank of Sharjah and pledge our steadfast commitment to fulfilling our responsibilities under this partnership.”
