Finance Magnates learned that Amana Capital has successfully concluded the first phase of its expansion plan and is preparing to begin providing its services across Southeast Asia. The Middle East-focused brokerage has been authorized by a number of regulators in the United Kingdom, Cyprus, Lebanon and United Arab Emirates.
The company has focused its efforts on providing forex and CFDs trading services to clients in the Middle East and North Africa (MENA). As part of the expansion, the company is relocating to a new, bigger office in London, in the heart of the City of London.
Instead of looking at the already saturated market in Europe, the company has instead decided to focus on similar developing markets in the Far East. Amana Capital established an Institutional Relations department in London earlier this year, appointing Nina Baksh to lead the department.
Our aim is to become an international group
Commenting on the matter, the CEO of Amana Capital, Mr. Ahmad Khatib, explained:
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“Our aim is to become an international group. We believe that the best time to expand is now, but that doesn’t mean that we will be shifting our focus from one region to another or going to take any hasty steps.”
“We have been carefully studying the situation before deciding on the expansion moves, while continuing to focus on the MENA region,” he shared.
The company will be looking to hire additional staff for its London operations. Amana Capital has localized its Institutional and Partnership teams there as both departments will be targeting Asian markets from London.
Amana Capital is conducting preliminary studies to identify new target markets in Africa
A company spokesperson shared with Finance Magnates that the company is currently looking to hire multi-linguistic people in London, who speak languages other than English and Arabic, such as Chinese, Japanese, Malaysian, etc.
Amana Capital is conducting preliminary studies to identify new target markets in Africa. The focus is falling on countries bordering the Atlantic Ocean, where the development of the region has brought in increasing demand for financial services.