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 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 (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.
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 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 (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.
This post is originally published on FINANCEMAGNATES.
