Emirates News Agency – 34.7 million dirhams of Dubai Financial Market Company profits during the first quarter of 2020

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Dubai, May 20 / WAM / The Dubai Financial Market Company announced its financial results
For the first quarter of the current year ending March 31, 2020, it made profits
Net income of 34.7 million dirhams, an increase of 24% compared to the profit for the period
Similar from the year 2019, amounting to 28.1 million dirhams.

The company’s total revenue increased by 13% to 88.2 million dirhams during the quarter
The first of the year 2020, in return for revenue of 77.9 million dirhams during
The first quarter of 2019.

Income was distributed by 49.1 million dirhams from operating operations and 39.1 million
Million dirhams of investments, and operating expenses amounted to 53.5 million dirhams, compared to
49.8 million dirhams in the first quarter of 2019.

Issa Kazim, Chairman of the Dubai Financial Market Company .. said, “Despite
The sharp fluctuations in the global financial markets are a direct reflection
For unprecedented situations as a result of the outbreak of the Corona virus, it was registered
DFM trades improved relatively during the first quarter of 2020
Compared to the same quarter of 2019, it rose 19% to 14.2
One billion dirhams, compared to 11.9 billion dirhams in the first quarter of last year.

The market attracted 1018 new investors during the first quarter, increasing the total
The number of registered investors in the market to 845,137 investors .. and moreover
Moreover, the market has maintained its great appeal to foreign investors
They acquired approximately 51% of the turnover during the first quarter and reached
Their ownership is about 18% of the total market value of the shares listed in
Market by the end of March 2020. We look forward to continuing positive performance in
The next stage, with various economic sectors benefiting from the stimulus packages
The multiple economic initiatives launched by the UAE leadership
Urgently to support the economic sectors during this period
The special. ”

He explained that the DFM continued during the first quarter of the year 2020 to implement
More development steps and initiatives to enhance its leadership on
The regional level, as it was carried out in conjunction with its celebration of the 20th anniversary of
Its foundation is the largest and broader development process of its technology architecture across
Its history, through a successful transition to an integrated financial framework system
“asdaq Financial Framework NFF” from NASDAQ, the world’s leading provider
Money Market Technologies, mid March 2020. This system is provided to the Dubai Market
Financial The latest trading, control, clearing and information transmission applications
World class.

He pointed out that the “smart exchange” strategy pursued by the market is over
The past years and invested in them in developing an integrated system of platforms
Smart and electronic services clearly paid off during the first quarter
From the current year, with a complete transition to teleworking, taking into account developments
Global health.

During the first quarter of 2020, the market intensified its efforts to promote digital transformation
In the financial markets sector by providing all its services through its smart platforms
The electronic that registered an increasing demand by dealers.

It is estimated the number of users registered in the electronic and smart services of the market
Currently, about 120,000 users complete their transactions and track their activities
The investment in the highest degree of smoothness, effectiveness and safety.

Wam / Nasser Aref / Abdel Nasser Menem

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