Heather McLean
Heather McLean

The Middle East

Heather McLean examines e-FX within the region.

First Published: e-Forex Magazine 25 / Regional eFX Perspective / October, 2006

Investors in the Middle East are enjoying the rewards of a booming economy and local companies are growing exponentially. However, thanks to stock market instability in the region, the eForex market in the Middle East is becoming an “asset class” in its own right as traders look to safer ways to invest cash.Paul Farrow, regional head of e-commerce sales for the Middle East and Pakistan at Standard Chartered, says the Middle East is a rapidly developing market place and, as such, the challenge specifically to banks is to maintain a high quality of service to an ever increasing client base. Over recent years there has been a significant improvement in infrastructure within the region he states, resulting in reliable communications that are making online services an increasingly viable option for conducting business.eFX trading in the Middle East is on the rise, Farrow says, and is set for a strong future. He remarks: “The last two years have seen a dramatic increase in the number of clients...continued

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