Equiti Group expands its presence in the Middle East with a new office in Abu Dhabi
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Equiti Group has announced it has opened a new office in Abu Dhabi. This new office will allow the company to expand its presence in the United Arab Emirates. Equiti Group obtained regulatory authority to operate in this new market through a license obtained by its subsidiary regulated by the Securities and Commodities Authority (SCA).
Equiti Group opens a new office in Abu Dhabi
The co-founder and CEO of Equiti Group, Iskandar Najjar, said that the company was expanding to the UAE through the new office in Abu Dhabi. The executive also highlighted the company’s plans to expand to new markets.
“Our expansion in the UAE to Abu Dhabi was a must to further strengthen our presence in Europe, Africa, and the Middle East with our plans to open in Asia and South America soon. Our Abu Dhabi operations will serve as a link to achieve this “West-East Corridor’ of digital investment solutions offering to our clients globally,” Najjar said.
Equiti will use its new office in Abu Dhabi to provide personalized services for its clients. The company is also planning to have educational seminars and workshops. It is also exploring partnerships with local institutions, educational institutions, and government agencies to raise investment awareness.
The company’s subsidiary, Equiti Securities Currencies Brokers, will operate the new office. The CEO of this firm, Mohamed Al Ahmad, said that the UAE was a strong economy with a robust financial infrastructure. The new office in Abu Dhabi would enable the company to attract more investors.
The executive further described investors in Abu Dhabi as astute and discerning, with a passion for success and excellence. The company would fill the gap sought by these investors focused on personalized service and top-notch technological solutions.
Boosting its global presence
Equiti will expand its global presence with the new office in Abu Dhabi. The office marks the tenth physical location for the company. In November 2022, Equiti opened a new office in Cyprus after obtaining a local regulatory license.
Equiti also boasts a notable presence in the US, UK, Africa, Europe, Asia Pacific, and the Middle East. The company’s UK division is mandated to publish its business performance periodically. The latest figures show that Equiti Capital UK Limited more than doubled its profit in 2021 to $3.7 million.
The company’s revenue growth was capped at 5%, with the trading volumes on its FX Agency desk increasing by 84% year-over-year to a new record.
The company’s UK subsidiary is also mandated to comply with the regulatory framework in the country. Last month, the UK subsidiary signed a Statement of Agreement to guarantee that it complies with the FX Global Code of Conduct to ensure it complies with specific standards of good practices.
The company has said that the decision to comply with the principles of the Code was prompted by the size and complexity of the company’s activities and the nature of interactions in the forex market.