One of the U.K. Financial Conduct Authority (FCA) regulated brokers operating in the Middle East, Amana Capital, has announced that it has signed a sponsorship deal with Saudi Arabian football club Ettifaq. Based in the city of Dammam, the club is playing in the Saudi First Division, which is the second most prominent group of teams after those competing in the Premier League.
Similar to many other forex and binary options brokers in recent years, Amana Capital is aiming to build up the profile of its brand to target new customers from the region. Football has become the most popular sport in the almost 29 million strong Saudi Arabia. The rural area around the city of Dammam where Al-Ettifaq is from is home to more than 4 million people.
The sponsorship agreement is signed for the 2015-2016 season with Saudi football club Ettifaq, which is famous for being the only team to ever win the Saudi Premier League without suffering a defeat.
A company spokesperson explained to Finance Magnates reporters: “The company is expanding its brand presence in key markets all over the MENA region, so the choice to sponsor a well-known team in the Kingdom is a perfect fit for our future branding ambitions.”
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“The ‘Saudi Professional League’ is the most watched sports league in the Kingdom with high regional following – so the ability to grow our brand recognition by sponsoring Ettifaq FC is significant,” he added.
The deal was signed last week between Amana Capital’s Chief Executive Officer (CEO) Mr. Ahmad Khatib and Ettifaq F.C Chairman, Mr. Khaled Al Debel.
Apparently the trend amongst forex and CFDs brokers to sign sponsorship deals with football clubs is spreading from Europe into other regions of the world. With football gathering more and more popularity in the Middle East, Amana Capital’s move may be only the beginning of similar deals in the region.
Top executives from the industry will gather at the Finance Magnates London Summit on November 2nd and 3rd to discuss the opportunities coming from sponsorship deals and many other hot topics in the industry. Don’t forget to register and attend the exclusive event at ‘The Brewery’ in London and tune in for many more detailed discussions focused on the issues facing the industry.