The Forex trading sector in the Gulf Region will carry on in its meteoric
rise. It’s expected to grow exponentially, doubling year on year as stated by
Iskandar Najjar, CEO of Alpair ME DMCC (Alpari), at a recent Forex conference
in Jeddah Saudi Arabia.
Alpari ME DMCC has seen an escalating demand from retail traders across the
Middle East. The UAE, KSA and Qatar, most especially have demonstrated
eagerness for currency trading opportunities, therefore emulating a larger
trend not only in the Gulf region but across the world.
Around the world, the Forex industry has witnessed daily trading volumes
shoot up from $3 trillion during 2007 to $5 trillion during 2012.
Among the various capital markets, the spots and futures have seen the best
performance with an increase of over 10% over the same time period. Alpari has
been one of the top brokers that catered to the trading needs of region…
August 2012
UAE to Become a Forex Trading Hub in the GCC Region
Dubai Forex Brokers 3:19 AM
The UAE is undoubtedly regarded as a commercial hub in the Gulf Region and
not, it also set to emerge as a foreign exchange trading hub in the region,
said a senior official of ADS Securities, the Abu Dhabi based Forex and
commodities and trading platform.
Claus Nouveau-Nikolajsen, ADS Securities, Head of Sales, GCC & MENA,
states: “The UAE has been at the forefront of financial industry development in
the GCC and offers the most conducive environment for the growth of the forex
marketplace and infrastructure. Trading of both major and emerging market
currencies in the UAE is on the rise, and with international trade growing
rapidly, the need for currency management will only increase. The
expected upgrade of the UAE to emerging market status by index provider MSCI
will have a significant impact on investment flows into the country, which in
turn will also boost the country’s fore…