Al Jazeera Financial Services renamed as Mawarid Securities

Al Jazeera Financial Services, a brokerage company, announced that the company will begin to operate under a new name and will be known as "Mawarid Securities".

This comes after acquisition of the whole company's shares by Mawarid Finance Group.

Mohamed Al Nuaimi, Mawarid Securities' Chairman, said: “Mawarid Securities shall continue to provide all the activities licensed to Al Jazeera Financial Services, including online trading and margin trading. The company is in process of launching new services which shall be unveiled in the coming days. Mawarid Securities has witnessed restructure of its activities aimed at making substantial changes on its activities and operation strategy, in order to increase efficiency and enhance its performance".

He said: "Mawarid Securities in the next phase shall work on increasing its share in the daily trading transactions in the local stock markets, especially after the tremendous move in its ranking among the other brokerage firms; improvement in the daily transactions' activities shall encourage the brokerage companies to provide their services to a bigger number of investors, with the advanced technologies used to facilitate the trading process and provide diverse and quality service to the investors". 

In 2008, Mawarid Finance acquired Al Jazeera by buying 55% of its assets, to offer the opportunity to invest in stocks compliant with Shariah and listed on both the Dubai Financial Market and the Abu Dhabi Securities Exchange.