Century
Financial, a Dubai-based financial services firm, announced today (Thursday)
the opening of a new branch office in Abu Dhabi, marking an expansion of its
presence in the United Arab Emirates (UAE).
Century Financial Expands
Operations with New Abu Dhabi Branch
The move is part of the company’s strategic growth plan and aims to strengthen its foothold in the UAE’s financial sector, where it has been operating for over thirty years.
“Being a
pioneer in global investments in the UAE, the opening of the Abu Dhabi office
further reiterates our commitment to providing the tools, knowledge, and
bespoke solutions to our discerning clients based in Abu Dhabi,” said Bal
Krishen, Chairman and CEO of Century Financial.
The Abu
Dhabi branch will offer an expanded product line, including CFD-based Abu Dhabi
Securities Exchange (ADX) stocks. Additionally, the company plans to introduce
new AI-enabled features to its trading platform .
At the
beginning of this year, the company appointed Ulas Akincilar as the new Chief
Product Officer. He previously worked for Infinox Capital and House of Borse,
which was acquired by UAE’s Noor Capital and subsequently rebranded. He also
held a position at Gold-i, a technology and liquidity provider serving the
FX/CFDs industry.
Earlier,
the company promoted Mahmoud Elaref from Senior Financial Analyst to Vice
President of Private Wealth. This promotion came after Elaref had been with the
privately-owned firm for over five years.
UAE: A Key Player in the
FX/CFD Landscape
The UAE is
experiencing growth in retail FX/CFD trading, bucking the global trend of
declining trader numbers. This expansion is driven by two primary factors: a
flourishing cryptocurrency market and the strong influence of personal
recommendations. A recent study indicates that approximately half of the
respondents entered the trading market based on encouragement from family
members.
Although
there has been a 6% reduction in active traders over the last year, mainly due
to fewer new entrants, the UAE market has seen a significant uptick in
reactivated and continuing FX/CFD traders. This pattern underscores the
market’s robustness and the faith that existing traders place in the UAE’s
trading ecosystem.
A
distinctive feature of the UAE’s retail FX/CFD market is the exceptional impact
of word-of-mouth referrals in attracting new clients. Personal recommendations
are responsible for 42% of new account openings, a figure substantially higher
than in other regions, especially Europe. Furthermore, advocacy rates in the
UAE are remarkably high, with 83% of traders endorsing their providers to
others, in contrast to only 48% in France and 42% in Germany.
The UAE is
rapidly emerging as a global technology hub , drawing the attention of Asian
tech professionals. A recent Capital.com survey reveals that 81% of Asian tech
experts view the Middle Eastern nation as an increasingly significant tech
destination. With nearly half expressing a willingness to relocate there, the
UAE is surpassing traditional favorites like Germany and Hong Kong in appeal.
Century
Financial, a Dubai-based financial services firm, announced today (Thursday)
the opening of a new branch office in Abu Dhabi, marking an expansion of its
presence in the United Arab Emirates (UAE).
Century Financial Expands
Operations with New Abu Dhabi Branch
The move is part of the company’s strategic growth plan and aims to strengthen its foothold in the UAE’s financial sector, where it has been operating for over thirty years.
“Being a
pioneer in global investments in the UAE, the opening of the Abu Dhabi office
further reiterates our commitment to providing the tools, knowledge, and
bespoke solutions to our discerning clients based in Abu Dhabi,” said Bal
Krishen, Chairman and CEO of Century Financial.
The Abu
Dhabi branch will offer an expanded product line, including CFD-based Abu Dhabi
Securities Exchange (ADX) stocks. Additionally, the company plans to introduce
new AI-enabled features to its trading platform .
At the
beginning of this year, the company appointed Ulas Akincilar as the new Chief
Product Officer. He previously worked for Infinox Capital and House of Borse,
which was acquired by UAE’s Noor Capital and subsequently rebranded. He also
held a position at Gold-i, a technology and liquidity provider serving the
FX/CFDs industry.
Earlier,
the company promoted Mahmoud Elaref from Senior Financial Analyst to Vice
President of Private Wealth. This promotion came after Elaref had been with the
privately-owned firm for over five years.
UAE: A Key Player in the
FX/CFD Landscape
The UAE is
experiencing growth in retail FX/CFD trading, bucking the global trend of
declining trader numbers. This expansion is driven by two primary factors: a
flourishing cryptocurrency market and the strong influence of personal
recommendations. A recent study indicates that approximately half of the
respondents entered the trading market based on encouragement from family
members.
Although
there has been a 6% reduction in active traders over the last year, mainly due
to fewer new entrants, the UAE market has seen a significant uptick in
reactivated and continuing FX/CFD traders. This pattern underscores the
market’s robustness and the faith that existing traders place in the UAE’s
trading ecosystem.
A
distinctive feature of the UAE’s retail FX/CFD market is the exceptional impact
of word-of-mouth referrals in attracting new clients. Personal recommendations
are responsible for 42% of new account openings, a figure substantially higher
than in other regions, especially Europe. Furthermore, advocacy rates in the
UAE are remarkably high, with 83% of traders endorsing their providers to
others, in contrast to only 48% in France and 42% in Germany.
The UAE is
rapidly emerging as a global technology hub , drawing the attention of Asian
tech professionals. A recent Capital.com survey reveals that 81% of Asian tech
experts view the Middle Eastern nation as an increasingly significant tech
destination. With nearly half expressing a willingness to relocate there, the
UAE is surpassing traditional favorites like Germany and Hong Kong in appeal.
This post is originally published on FINANCEMAGNATES.
