NBAD plans first ETF
National Bank of Abu Dhabi (NBAD) plans to launch the Middle East’s first exchange-traded fund to try to attract more international investors. The fund, known as an ETF, will be listed on the Abu Dhabi Securities Exchange (ADX) in two months, a senior NBAD official said. It will be licensed by a leading global index provider and will track some of the Gulf’s 50 biggest stocks, said Giyas Gokkent, NBAD’s co-head of asset management and chief economist.
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