Daman Markets launches UAE stock trading with Dirham-based accounts
, the premium forex and CFD trading service from Daman Securities, has officially launched access to UAE-listed stocks on the Dubai Financial Market (DFM) and Abu Dhabi Securities Exchange (ADX). This new feature provides regional traders with access to large, significant Emirati companies such as Emaar, ADNOC, Emirates NBD, Salik, and more.
By introducing UAE stocks, Daman Markets becomes one of the few brokers that enables traders to experience global trading while addressing the specific needs of regional traders. Their newest CFD (Contracts for Difference) offering on some of the bookrunners of the UAE allows traders to diversify their portfolios and benefit from the rapid growth of the local market.
A key feature of the launch is the introduction of Dirham-based accounts. This allows traders to participate in local markets using the UAE's national currency with zero conversion fees. Operating in the UAE's national currency ultimately enables regional traders to simplify the complexities involved in converting local transactions or assets into items that hold alternative currencies for foreign exchange purposes.
Samer Mourched, CEO of Daman Markets, emphasized the significance of the launch. "This launch is about more than simply starting in new markets; it's about opening our doors for traders to opportunities in their background," he said. "As a global broker with roots in the UAE, our goal is to provide traders with access to local markets in their currency, backed by teams deeply immersed in the region. We want to empower traders to trade smarter, closer to home, and with the confidence they deserve."
The introduction of UAE stock trading is taking place during a period of rapid growth and global prominence for the UAE's capital markets. With record IPOs and a greater range of international and local investors, the DFM and ADX have become the main drivers of the UAE's regional economy. However, access to these markets is limited, as primarily retail-run traders are looking for localized and competitive trading solutions.
Daman Markets provides localised solutions to stock trading, providing a platform that meets regional expectations while maintaining a global trading experience. The company is unique in its approach with dirham-based accounts and local compliance regulation, partnered with support teams that are fluent in the jurisdiction policies and the specific attitudes of the UAE market. This localisation-first approach allows Daman Markets to offer an unparalleled level of service and expertise to the GCC trading community.
Daman Markets has been steadily growing since it first launched, with a promise to create a trusted platform for trading tools, educational opportunities, and a simplified trading interface for users. The introduction of UAE stocks is another significant advancement on the path toward building a trading platform that connects regional traders with the country's growing economy.
Daman Markets is committed to providing unparalleled value to the regional trading community with an entire suite of innovative trading tools, reliable support, and a trading platform incorporating local knowledge.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The National
26 minutes ago
- The National
How to enrol your child at school in the UAE
The UAE is home to some of the best private school brands in the world. That will soon include two campuses of the UK's renowned Harrow School. But as the UAE experiences an influx of residents, particularly in Dubai and Abu Dhabi, securing places for children at the best schools has become competitive. Whether you're new to the Emirates' education system and don't know where to start, or looking to switch your child's school, here's everything you need to know about getting a place. How has demand changed over the past year? There has been a significant increase in enrolments, driven by the high number of families moving to the UAE, notably from the UK, said Victoria Lumby, senior vice president of growth at Gems Education. 'Year on year, our total enrolments have risen by approximately 5 per cent.' To meet this rising demand, Gems Education has expanded capacity at some of its schools across Dubai and Abu Dhabi. It also opened Gems Education Founders School – Masdar City and Gems Education Founders School – Dubai South last year, with Gems Education School of Research and Innovation to follow next month. Nikki Holman, head of admissions of UK curriculum schools at Taaleem, reported a similar increase. 'Over the past year, we have experienced accelerating demand across our school portfolio,' she said. 'New campuses such as Dubai British School Jumeira have reached high utilisation within their first year, and DBS Mira, set to open in August 2025, is already enrolling over 700 students, a record for a premium school in Dubai.' How do I know if a school is good? In Dubai, the Knowledge and Human Development Authority (KHDA) rates schools regularly with six rankings, from 'very weak' to 'outstanding'. The rankings are available to the public in the Education Directory on its website. The Abu Dhabi Department of Education and Knowledge (Adek) does the same, and these ratings are also available on its website. Inspection criteria include students' achievement and progress, teaching and learning quality, curriculum and resources, leadership, management, environment, and safety. The KHDA also measures well-being and inclusion. 'We advise families to visit schools, speak with leadership teams, try to meet parents already at the school and review KHDA or Adek inspection reports to understand the unique strengths of each school,' said Ms Holman. How do I choose the right curriculum? It's important to consider your children's learning needs, said Ms Holman. 'For families who may return to their home country, choosing a familiar curriculum often supports continuity. Although the British curriculum is by far the most popular among families, the International Baccalaureate is widely recognised as a highly transportable curriculum for globally mobile families,' she added. There are several curriculum frameworks to choose from in the UAE. Taaleem schools also offer American and French curriculums, while Gems Education also offers an Indian curriculum. How much are fees? Education institutions in Dubai and Abu Dhabi can vary widely when it comes to fees. In May, the KHDA announced that private schools in Dubai will be allowed to increase tuition fees by up to 2.35 per cent in the 2025-2026 academic year. The fees can be found on each school's website. For example, following the price rise, at Kings' School Al Barsha in Dubai, Foundation Stage 1 costs Dh57,999, while Year 13 is Dh105,873. Brighton College Abu Dhabi charges Dh50,830 for nursery and Dh80,780 for Year 13. When should parents start the admissions process? The earlier the better. 'Choosing the right school for your child is a significant decision and one that should be made with careful consideration and time to explore all aspects of the school,' said Luke Steward, director of admissions and marketing at Swiss International Scientific School Dubai. 'Our admissions for the 2026/27 academic year will open once the current school year is under way, while we continue to accept applications for the current year where space is available.' Most schools open admissions in January for the academic year beginning the following September, said Ms Holman. At Gems Education, schools accept applications a full year in advance and they are open during the summer for tours and support with applications, added Ms Lumby. What is the admissions process? The process is similar across schools. It often includes an online application form, an application fee and the submission of documents, such as passport copies, visa pages, Emirates ID and school reports, depending on the year group you're applying for. An assessment appointment will follow and, if successful, an offer letter will be issued. The place will be reserved with a signed offer and deposit. What should my child expect from the admissions test? Tests depend on the grade and curriculum. They typically cover key subjects such as science, maths and English. In Abu Dhabi, children are accepted on a first-come, first-served basis and the tests are used to help determine their grade level. In Dubai, assessments are often prerequisites for elite schools and some carry a non-refundable fee of up to Dh1,000 What happens if we are put on the waiting list? For many schools, being placed on a waiting list is common because year groups fill up fast, particularly in transitional years such as Foundation Stage or Year 1. For example, Gems Education schools such as Jumeirah Primary School, Jumeirah College and Gems Education Wellington International School have waiting lists across all year groups. Others, such as Gems Education International School, only have them in some year groups. Finding yourself on the waiting list can be unsettling for families, said Mr Steward of Swiss International Scientific School Dubai. 'While there is often movement as family plans shift, we can never guarantee when a place will become available,' he added. 'We always recommend that families check in with our admissions office as early as possible to understand current availability. Staying in regular contact ensures you're well positioned if a space becomes available.' At Gems Education, application fees need to be paid and assessments completed even if you're on the waiting list. 'Wait-listed families are then updated on a termly basis, but will need to reapply if they've been on the wait-list for over two years,' said Ms Lumby. 'When a seat becomes available, students with siblings already attending the school are given priority; otherwise, it's first come, first served.' What are common documentation issues? One of the most important documents is a transfer certificate from your child's current school. 'Depending on your country of origin, this may need to be attested,' said Mr Steward. 'If this step is missed or not completed properly, it can cause delays in final enrolment.' Beyond this, teacher recommendations are often required, which can be difficult to obtain during summer holidays. 'School reports are occasionally submitted in informal formats which can lead to delays,' added Mr Steward. 'Wherever possible, we kindly ask families to provide official, signed and dated academic records.' Remote assessments may also be required if the student cannot attend in person. 'These require appropriate invigilation to be considered valid, which can be a challenge if your current school is closed or teachers are unavailable during holidays,' said Mr Steward. Ms Holman also advised families to bring original birth certificates, immunisation records and previous school reports for the last two academic years. What support do schools offer families who are new to the UAE? Everything from personalised school tours to transition support, admissions consultations and a step-by-step onboarding process are offered, said Ms Holman. 'Our community-focused schools provide induction programmes for both students and parents, including orientation events, communication guidance and resources about life in the UAE.' What should I do if my child has additional needs? While inclusion services for children with physical or intellectual disabilities are mandatory as per the KHDA and Adek, provision widely varies, so parents should carry out detailed research to find the right fit, said Victoria McKeown, a neurodiversity specialist known as The Diverse Mind Coach. 'Try to get the school to offer a trial session. Very often, when they see what the child's needs are, they realise they can accommodate them because their needs aren't significant enough to need a huge amount of support,' she said. If a school is insisting on a learning support assistant (LSA), which comes at an extra cost, parents need to advocate for themselves, Ms McKeown added. 'Ask: what would the LSA be used for? How do you know my child will need this LSA, and also what would a phasing-out plan look like? How will we know when we don't need an LSA any more?' Above all, it's important to decide whether the school will be able to meet your children's needs, said Ms McKeown.
The National
an hour ago
- The National
Federal Reserve meeting: If not now, then when?
The Federal Reserve enters this week facing relentless pressure from the White House, mixed economic data and continued uncertainty. Yet, in the face of it all, the US central bank is expected to hold rates steady once more. The meeting comes less than a week after President Donald Trump's tour of the Fed headquarters, where he and Federal Reserve Chair Jerome Powell publicly bickered over the renovation project's costs. But with Mr Trump on holiday in Scotland, focus now shifts towards the Fed's interest rates. Mr Powell had acknowledged the bank would have cut rates by now were it not for Mr Trump's tariffs, which have put the global economy on edge since his announcement on April 2. The President's harsher 'reciprocal tariffs' are due to take effect on Friday. Meanwhile, recent data shows that other charges are beginning to be passed on to consumers. The Labour Department's Consumer Price Index (CPI) report showed that inflation rose to 2.7 per cent annually in June. Everyday goods such as toys, household appliances and clothing also saw price increases. Citing uncertainty surrounding tariffs and the current inflation level above its 2 per cent target, most Fed officials are signalling they will keep their target range level for a fifth consecutive meeting at 4.25 to 4.50 per cent. The UAE Central Bank, which mirrors Fed decisions due to the dollar peg, would also be expected to hold rates at 4.4 per cent following the US central bank's announcement. Path forward According to the Fed's projections from June, it still expects to cut rates twice this year to bring its target level to around 3.9 per cent. But with the central bank likely to hold interest rates at this meeting and only three left on the calendar this year, the window to cut is closing. 'We're simply taking some time,' Mr Powell said during a panel discussion in Portugal at the start of July. Mr Powell has practised extreme caution towards cutting rates this year, afraid that moving too soon or too quickly could lead to a renewed spike in prices not long after the most recent inflationary surge, with CPI inflation peaking at 9.1 per cent in 2022. 'When you get through an inflation episode like that, by the skin of their teeth, they're going to be really careful about anything that looks inflationary from now on,' said Derek Tang, an economist at LHMeyer/Monetary Policy Analytics in Washington. Traders anticipate the Fed will resume cutting rates in September, before reductions in October and December, according to CME Group data. A deluge of economic data this week should also give Fed officials greater clarity on the direction of the economy. When you get through an inflation episode like that, by the skin of their teeth, they're going to be really careful about anything that looks inflationary from now on Derek Tang, economist at LHMeyer / Monetary Policy Analytics The Labour Department will provide fresh insight into the health of the labour market with the Job Openings and Labour Turnover Survey on Tuesday and the June unemployment report on Friday. The government will also report on second-quarter GDP hours before the Fed rate announcement. US economic activity contracted by 0.5 per cent in the first quarter, but economists note that was due to a surge of imports as business rushed to get ahead of tariffs. The Fed's preferred inflation metric – Personal Consumption Expenditures Price Index – for June is also due to be released on Thursday. Fed divisions Not everyone might be on board with the committee's decision this time. Public remarks indicate a growing division inside the rate-setting Federal Open Market Committee. Fed Governor Christopher Waller, who holds a permanent vote on the rate-setting committee, laid out his case for a quarter-point cut earlier this month. Speaking in New York, he said the Fed should not wait for further weakening in the labour market to act. 'With inflation near target and the upside risks to inflation limited, we should not wait until the labour market deteriorates before we cut the policy rate,' he said. US job growth was more solid than expected in June, although most of those gains occurred in the government sector. At the same time, the unemployment rate has remained steady around 4.1 per cent. Dissents among FOMC members are rare. Under Mr Powell's stewardship, only 3 per cent of dissents have come from a Fed governor. 'I'm sure it'll get a lot of attention,' said David Wilcox, senior fellow at the Peterson Institute for International Economics and director of US economic research at Bloomberg Economics. However, he argued such disagreements could guard against groupthink. Fed Vice Chair for Supervision Michelle Bowman could join Mr Waller's dissent after she voiced her own support for a rate cut this month. It would be the first time two Fed governors dissented on a rate move since 2002, when Alan Greenspan was in charge of the central bank. Mr Wilcox, a former staff member of the Federal Reserve Board, expects Mr Powell to acknowledge there could be a case to cut rates this week but that a majority of officials favour holding them steady. 'And he'll lay out the rationale for why that is,' he said. What will Trump say? Looming against this backdrop is Mr Trump, who softened his stance on Mr Powell last week after touring the Fed's headquarters. Those attacks have ranged from calling the Fed Chair a 'numbskull' to at times publicly considering whether he should fire him. But last week's tour offered some relief for Mr Powell after Mr Trump said he did not think the unprecedented move is necessary. 'I think we had a very good meeting on interest rates. And [Mr Powell] said to me … very strongly, the country is doing well,' Mr Trump told reporters after touring the Fed. 'I got that to mean that I think he's going to start recommending lower rates.' Mr Powell has sometimes cited the economy's strength as a reason not to move on rates. The President's holiday in Scotland could give the Federal Reserve some breathing room for now, although Mr Trump has proven he can dictate the news cycle and gyrate financial markets with a push of a button.
UAE Moments
10 hours ago
- UAE Moments
UAE's Growth: Economy, Culture, Sustainability & Innovation
The United Arab Emirates: A Comprehensive Insight into Progress, Culture, and Economy Introduction to the United Arab Emirates The United Arab Emirates (UAE) is a modern nation recognized globally for its remarkable advancements in technology, architecture, and economic development. Situated in the southeastern corner of the Arabian Peninsula, the UAE comprises seven emirates: Abu Dhabi, Dubai, Sharjah, Ajman, Umm Al Quwain, Fujairah, and Ras Al Khaimah. Since its formation in 1971, the UAE has transformed from a desert economy reliant on pearl fishing into a global hub for trade, tourism, finance, and innovation. With a strategic location connecting Asia, Europe, and Africa, the UAE serves as a focal point for international businesses and cultural diversity. The blend of traditional Arab heritage and futuristic modernization makes it one of the most intriguing destinations for tourists, investors, and expatriates. Through strategic planning and visionary leadership, the UAE has established itself as a powerhouse in the Middle East and beyond. A Thriving Economy Built on Oil, Trade, and Diversification The Role of Oil in UAE's Economic Beginnings The foundation of the UAE's economic development began with the discovery of oil in the region. Oil exports led to a rapid influx of wealth, allowing the country to invest heavily in infrastructure and public services during the 1970s and 1980s. Abu Dhabi, which holds the majority of the UAE's oil resources, became the primary financial contributor to the federation's prosperity. However, while oil revenues played a significant role in the initial phase of development, the UAE understood that reliance on a single resource posed risks to long-term stability. This insight led to a concentrated effort to shift the economy towards diversification. Today, oil contributes less than 30% of its GDP, showcasing the success of its strategic planning. Economic Diversification and Innovation To reduce dependence on oil, the UAE has invested heavily in industries such as tourism, technology, real estate, aviation, and renewable energy. Dubai, often regarded as the face of UAE's economic success, has become a global hub for trade and tourism. Attractions such as the Burj Khalifa, Palm Jumeirah, and events like the Dubai Expo highlight its ability to attract visitors and investors from all over the world. Real-world examples include Dubai International Airport, which consistently ranks among the busiest airports globally, showcasing the UAE's importance in global connectivity. Another instance of innovation is Masdar City in Abu Dhabi, an urban development focused on sustainability and renewable energy, supporting the UAE's vision for a green future. Statistical Insights into UAE's Economy According to data from the World Bank, the UAE's GDP reached approximately $421 billion in 2022, reflecting its impressive economic growth. Non-oil sectors account for over 70% of this GDP, indicating the effectiveness of its diversification policies. Additionally, international trade amounts to nearly $600 billion annually, positioning the UAE as the Middle East's trade capital. The UAE has also ranked among the top 10 countries globally for ease of doing business, with various free zones like Jebel Ali Free Zone (JAFZA) and Dubai Airport Free Zone providing incentives for international companies. Such initiatives have driven the UAE to become a preferred destination for global investors. Culture: A Unique Blend of Tradition and Modernity The Heritage of the UAE and Preservation of Arab Identity Despite its rapid modernization, the UAE prides itself on maintaining its Arab roots and heritage. Traditional values of hospitality, family, and respect still dominate everyday life. Cultural landmarks such as the Sheikh Zayed Grand Mosque in Abu Dhabi serve as symbols of both religious devotion and architectural genius. Festivals like Eid Al Fitr, Eid Al Adha, and National Day highlight the UAE's rich cultural traditions. These events are celebrated with grandeur and serve as moments where residents, expatriates, and tourists come together to appreciate the Emirati way of life. Integration of Global Customs and Diversity The UAE is home to over 200 nationalities, making it one of the most multicultural nations globally. The Emirati people have embraced diversity by integrating various cuisines, languages, and customs into their culture. For example, Dubai hosts the Dubai Shopping Festival, an event that attracts international participants and showcases a blend of global traditions. Cultural exchange is evident in the UAE's educational institutions as well, where schools offer curricula from countries such as the United Kingdom, United States, India, and more. Expatriates find comfort in the UAE's inclusive laws, while Emiratis retain their heritage, creating a harmonious society. Sustainable Urban Development and Architecture Modern Architectural Wonders The UAE has become synonymous with groundbreaking architectural achievements. From the tallest tower in the world, Burj Khalifa, to the artificial islands of Palm Jumeirah, the country's innovative spirit knows no bounds. The Louvre Abu Dhabi offers another example of architectural ingenuity, combining traditional Arab designs with modern aesthetics. Such projects have not only captivated the world's attention but have also driven economic growth by attracting millions of tourists annually. For example, statistics show that Dubai received nearly 16 million visitors in 2022, making it one of the most visited cities globally. Sustainable Development Projects The UAE has also taken a leadership role in promoting sustainable urban development. Masdar City serves as a shining example, with its focus on sustainability, renewable energy, and zero-carbon living. Additionally, projects like the Dubai Clean Energy Strategy aim to make renewable energy account for 75% of Dubai's power by 2050. Alongside these initiatives, the UAE has launched programs like the Green Economy Initiative and UAE Energy Strategy 2050 to reduce carbon emissions, ensuring modernity does not come at the cost of environmental degradation. Tourism: A Pillar of UAE's Diversified Economy Global Attractions and Events Tourism is one of the fastest-growing sectors in the UAE, contributing significantly to the nation's economy. Landmarks such as the Burj Al Arab, Dubai Frame, and Abu Dhabi's Emirates Palace are magnets for travelers worldwide. Events like the Dubai Expo and the Abu Dhabi Grand Prix further diversify the types of tourists visiting the country. Research conducted by Dubai Tourism reveals that the emirate aims to attract 25 million visitors by 2025. This ambitious target reflects the success of various tourism strategies, including hosting cultural festivals, music events, and exhibitions. Artificial islands and luxury resorts have also contributed to strengthening the UAE's reputation as a world-class tourist destination. The Rise of Eco-Tourism Eco-tourism is emerging as a popular trend in the UAE, thanks to initiatives such as the Al Marmoom Desert Conservation Reserve and Jubail Mangrove Park. These destinations allow visitors to connect with nature while learning about the UAE's environmental conservation efforts. Furthermore, wildlife sanctuaries like Sir Bani Yas Island offer a haven for endangered species, turning the UAE into more than just a destination for opulence—it's also a place for ecological exploration. Education and Technological Innovations Advancements in UAE's Educational Sector The UAE prioritizes education as a cornerstone for future development. State-of-the-art schools and universities, such as Zayed University and NYU Abu Dhabi, reflect the country's commitment to raising globally competitive professionals. Education reforms have introduced technology-driven curricula to ensure students are prepared for the digital age. For example, the UAE Ministry of Education's Smart Learning Program has integrated advanced technologies like Artificial Intelligence (AI) into classrooms, offering new opportunities for teaching and learning. The UAE as a Regional Technology Leader The UAE has emerged as a hub for technological innovations. Startups specializing in technology reside in zones like Dubai Internet City, supported by government funding and incubator programs. The UAE is also pushing boundaries in AI through high-profile projects such as employing AI for healthcare diagnostics and smart city developments. Additionally, Emirates Mars Mission—the UAE's space exploration venture—highlights its foray into advanced sciences, making it the first Arab nation to reach Mars. Such initiatives solidify the UAE's position as a leader in modern innovation. Business Environment and Opportunities A Magnet for Global Investors The UAE provides an investor-friendly business ecosystem backed by free zones, tax exemptions, and modern infrastructure. JAFZA alone has over 8,000 companies across industries, ranging from logistics to advanced manufacturing. Moreover, UAE's robust banking system and strong rule of law make it an attractive destination for businesses seeking stability in the Middle East. Major corporations, such as Amazon, Google, and Microsoft, have established offices in the UAE, capitalizing on its strategic location and advanced digital infrastructure. Support for Startups and Entrepreneurs Initiatives like Dubai Future Accelerators and Sharjah Entrepreneurship Festival encourage global startups to operate in the UAE. Emirati youth are also displaying a growing interest in entrepreneurship, supported by programs such as Khalifa Fund for Enterprise Development, which offers grants and mentorship. Statistics show that SMEs (Small and Medium Enterprises) contribute over 53% to the UAE's GDP, emphasizing the country's commitment to fostering innovation and growth. UAE's Vision for the Future The UAE has set ambitious goals under Vision 2021 and Vision 2030 frameworks, which emphasize sustainability, innovation, and diversification. Projects like the Dubai Clean Energy Strategy align with these goals, with a focus on shifting away from fossil fuels. Additionally, the upcoming COP28 conference, to be hosted in the UAE, exemplifies the country's leadership in tackling global environmental challenges. Global Collaborations and Partnerships The UAE continues to strengthen its international relations through partnerships with major economies like the United States, China, and India. Collaborative efforts in sectors such as energy, education, and defense underscore the country's importance on the global stage. Its active participation in organizations like the International Renewable Energy Agency (IRENA) further showcases the UAE's role in shaping the future of sustainable development worldwide.
