Amana offers no commission fees on all MENA stocks.
- Amana launched an offer that removed the commission fees on 1,000 stocks from the MENA region.
- Amana works primarily online, it is following the footsteps of the popular foreign stock application: Robinhood which introduced the no-commission offer previously to incentivize stock investors.
- The company is targeting the people of the region since only 5% are actively investing in the stock market.
Amana, a neo-broker launched an incentivizing offer to promote MENA stocks and introduce the people of the region to the stock market.
The offer includes no commission fees on over 1,000 stocks that originate from the Middle East and North Africa up to the first 100,000 investment capital.
This approach resembles the Robinhood model in the USA and UK which attracted more customers than any other previous method did in the last decade.
Amana aims to capitalize on the USD4 trillion market the region has attracted by the IPOs which are one of the highest in the world.
Only 5% of the region is involved in the stock market which is way below the average of major investment countries like the USA, UK and Canada.
Amana deals with clients from over 80 countries with access to the global financial markets.
Local stocks aside Amana also offers no commission fees on US stocks, gold, commodities, currencies, crypto and indices.
As a neo-broker, Amana functions mostly online, offering ease of use and access to investors.
QUOTES by Amana:
CEO of Amana, Muhammad Rasoul said Our initiative will provide more investors and traders across MENA access to local equity markets – in a cost-effective, fractionalized method, for everyone. We believe the MENA opportunity is big, and everyone should be able to participate in that growth opportunity.”
He added “This move exemplifies Amana’s core values. As a locally built broker, our mission extends beyond being a part of this emerging region’s growth; it’s about ensuring that as many people as possible can share in the economic potential of this once-in-a-generation regional transformation.”
