CFI Further Expands Presence in MENA Region, Opens CFI Palestine

Emphasizing continuous development in the Middle East and North Africa (MENA) region, The CFI Financial Group announced the opening of another local subsidiary. The latest branch of the broker, which has been operating in the financial markets for 25 years, has been launched in Palestine.

CFI Palestine: A New Entrant in Online Trading

With its headquarters based in Ramallah, CFI Palestine aims to bring about changes in the current online trading dynamics of the country. It plans to provide platforms and resources for traders to connect with local and global markets.

An important mention is the subsidiary’s licensing by the Capital Market Authority (CMA) of Palestine. This adds to CFI’s growing list of licenses in the MENA region, including the UAE and Egypt.

CFI’s Co-Founder and MD, Hisham Mansour, remarked on the launch, highlighting the significance of the MENA region to CFI’s operations. He stated the company’s objective was to offer Palestinian investors a gateway to international markets, backed by CFI’s technological resources.

“I extend my gratitude to the regulatory authorities and local partners who have played a vital role in facilitating our entry into this market,” Hisham added.

As the landscape of online trading evolves, CFI’s move to set roots in Palestine could signify a strategic direction for the firm, especially in its endeavors in the MENA region.

In line with this, Sami Shraim, the CEO of CFI Palestine, pointed out the subsidiary’s commitment to deliver a contemporary trading platform. “Our goal is to empower traders with a seamless and cutting-edge trading experience while adhering to the highest standards of compliance and customer service,” he stated.

CFI Bets on Expansion in MENA Region

The Dubai-based broker recently welcomed Leen Daoud as the new Marketing Leader for the MENA region. Boasting over eight years in digital trading, Daoud’s rich background includes stints at Ingot Brokers and CAPEX.com. As the head of marketing for MENA, she is set to launch novel marketing strategies, bolstering CFI’s footprint.

In June, the firm collaborated with AK Financial in Kuwait, marking its growth strategy in the Middle East and North Africa. This alliance allows the company to provide online trading in areas like forex, stocks, indices, commodities, and ETFs.

Mansour points out that traders from the MENA zone lean towards services that cater to their jurisdiction. Speaking to Finance Magnates, CFI’s Managing Director shared: “The market of Arabic speakers is vast and brimming with potential.”

Based on the latest Q1 2023 financial data, CFI Financial experienced remarkable upticks across primary indicators. The document revealed a spike of 57% in CFI Financial’s trading volumes in the initial quarter of 2023 compared to the previous year’s corresponding period. Concurrently, active accounts on its platform skyrocketed 147%. Furthermore, the first quarter witnessed a rise of 68% in the new accounts registered on the platform.

This article was written by Damian Chmiel at http://www.financemagnates.com.