Abu Dhabi Securities Market asks banks to divulge Saudi Exposures, warns of suspension.Dubai, 30 Sept: Abu Dhabi Securities Market Abu Dhabi Securities Market (ADSM) (Arabic: سوق أبوظبي للأوراق ألمالية) is a stock exchange in Abu Dhabi, United Arab Emirates (UAE). (ADX ADX Average Directional Movement Index
ADX Automatic Data Exchange
ADX Accumulation/Distribution Index
ADX Air Defense Exercise
ADX Administrative Maximum Facility
ADX Address Cross Reference ) announced it has directed listed banks to provide details of exposure and provisions taken to troubled Saudi groups Saad and Algosaibi.
Abu Dhabi Securities Market sent out a circular urging banks to provide any exposure details by Sept. 30 or to let ADX know by which date banks can provide those details.
Banks have been responding to our circular but so far no trading has been suspended," Khaled Al Suwaidi, head of listing companies department said adding that it is part of the exchange's regulatory measures.
Al Bawaba / Euclid Infotech Monitoring (Arabic to English)
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