CFI Financial Partners With AK Financial Amid MENA Expansion Plans

Multi-asset brokerage company, CFI Financial Group, has announced a partnership deal with AK Financial. The partnership will enable the company to expand across the Middle East and North Africa (MENA) region.

CFI Financial partners with AK Financial

The partnership between CFI Financial and AK Financial will allow the company to provide online trading services across a wide range of financial assets, such as commodities, exchange-traded funds (ETFs), forex, indices, and stocks.

The brokerage company is also planning to offer market and trading insights. Part of the information that it will make available to traders includes market news, daily reports, seminars, and trading webinars.

CFI Financial is also planning to provide its clientele base in Kuwait with access to spreads and commissions. The platform will also provide access to fast speeds when executing transactions.

The co-founder and the managing director at CFI Financials, Hisham Mansour, opined that the partnership aligned with the vision of the company to grow its reach across the MENA region while meeting the needs of trades across Kuwait.

“It aligns with our vision of expanding our footprint in the MENA region and catering to the evolving needs of traders in Kuwait. We are confident that our partnership with AK Financial will be instrumental in delivering a seamless and rewarding trading experience with a local touch,” Mansour said.

MENA region attracts brokerage companies

Many brokerage companies have been expanding their presence across the MENA region. In April, CMC Markets Connect said that it was expanding its operations across the United Arab Emirates by upgrading its Dubai office. The UK-based company has also revealed plans to launch a cash equities product suite targeting institutional clients.

ATFX, a forex, and contracts for differences (CFDs) brokerage platform secured a license in the UAE. The Category-Five license secured by the company was issued by the Securities and Commodities Authority (SCA), which is the regulatory agency in the region. This license will allow ATFX to offer financial consultation services across the region.

TradingView is also expanding its presence across the UAE. The charting and social network platform has secured a data-sharing partnership deal with Boursa Kuwait. The partnership will enable the company to open a new office location in Kuwait.

MENA is a crucial market for retail brokerage companies that want to expand in the region. The region has a conducive market environment supporting the growth of local companies. The region also supports foreign entities that want to secure a footprint across the region.

Mansour has also said that the platform has a population of over 500 million people based across the Middle East and North Africa. He further said that the demand for market access and online trading had increased significantly, and it would continue to increase.

He further said that the growth of the platform was largely driven by large and young populations. The platform also boasted of abundance in resources, technological advancements, and a large tourism industry.