MultiBank Group intends to seek clients in underdeveloped markets typically overlooked by FX/CFD brokers in the coming years. To this end, they have established a new unit, MEX Orient.

Under the leadership of MultiBank's CEO Naser Taher, Niki Saki will lead the new entity. Saki previously ran her own agency helping retail brokers build businesses.

Multi Bank Launches MEX Orient, Targeting 14 Potential Jurisdictions

MEX Orient's launch was announced today (Monday) on social media by Saki, who will head the operations.

"Our goal is to transform this system into a cultural bridge Bridge The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service their clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Met The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service their clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Met Read this Term in financial markets, pioneering specialized operations tailored to different regions and their unique economic landscapes," Saki commented on LinkedIn.

Finance Magnates contacted the manager of the new venture and learned that MEX Orient operates from an office in Dubai and plans to open additional branches in other countries soon.

"When organizations become too large, they often struggle with executing detailed operations," Saki explained the reasons behind MEX Orient's creation. "MEX Orient's mission is to handle these specific details within MultiBank Group."

Within the first three years of operation, the entity aims to target fourteen different countries: Saki's list includes Tajikistan, Uzbekistan, Kyrgyzstan, Kazakhstan, Turkmenistan, and Pakistan, among others.

MEX Orient intends to focus primarily on Central Asian, Middle Eastern, and North African countries, targeting nations usually classified as developing or emerging economies. Most of these, as mentioned earlier, are not typically among the main markets where brokers usually focus.However, the total market potential is enormous. The fourteen countries Saki mentioned, where MEX Orient potentially wants to focus, have a combined population of 400 million people, and including India, 1.8 billion.

MultiBank Expands Its Presence in the Middle East

MultiBank Group, a Dubai-based global financial institution, launched its subsidiary, MEX Digital FZE, in the UAE last October. MEX Digital has obtained a license from Dubai’s Virtual Assets Regulatory Authority (VARA) and operates under the MultiBank.io brand.

In February, the company introduced UAE Contracts for Difference (CFDs) on its trading app and MT5 platform, allowing investors to trade shares from the Dubai Financial Market (DFM) and Abu Dhabi Securities Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term (ADX). According to MultiBank Group, this initiative aims to improve global access to the UAE’s growing financial markets and provide seamless integration for traders across all account types.

The above aligns with the strategy the company aims to implement through MEX Orient. Funding for expansion into new markets should not be an issue, as the company's net income in 2023 (according to an August 2024 report) reached nearly $227 million, with revenue totaling $307 million.