Regional Study: Arab Financial Brokers, Kuwait

The Islamic world, and especially the Middle East, is fast emerging as a growth area for foreign exchange trading. Arab Financial Brokers (AFB) appears poised to take advantage of this growth. e-Forex interviewed Abdullah Abbas, General Manager of AFB in Kuwait City about some of the exciting opportunities in the region and the wide variety of services which AFB offers.

First Published: e-Forex Magazine 35 / Retail Forex Client / April, 2009

The Arab world in particular has come out of the financial crisis better than most regions. Thanks to Islamic law, Arab banks have by and large avoided speculating in toxic sub-prime investments and so have come out of the banking crisis cash rich and relatively unscathed. The high oil price has simply added to the level of disposable income in the Gulf economies, and Arab Financial Brokers (AFB) has been perfectly positioned to take advantage of all of the above factors. Based in Kuwait City, AFB was founded in 2005. With thousands of active accounts across the Gulf and other Arab countries, AFB has also made inroads in countries such as Indonesia, Malaysia, Pakistan and India. One of the reasons has been the availability of Islamic (or swap / interest free) accounts for customers. AFB also offer Micro Accounts. Clients can easily open an account, fund it with a credit card and start trading for as little as 100 dollars. Upto 400:1 leverage is offered.  AFB describes itself as a "full service...continued

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