UAE's NBAD to list on Abu Dhabi exchange

National Bank of Abu Dhabi, or NBAD, is set to list the Middle East's first exchange traded fund on the Abu Dhabi stock market in two months, a bank executive said on Monday.

NBAD's ETF is licensed by "a global, leading index provider" and includes 50 traded stocks, Giyas Gokkent, NBAD's co-head of asset management and chief economist, told the news agency Zawya Dow Jones.

"We're planning to launch in about two months, subject to regulatory approval," Gokkent said.

"We think that there will be a lot of demand, because exposure of international investors to this region is still behind the curve," he said, adding that the fund will provide "exposure and passive management in an efficient way, when active fund management has taken a hit."