Broctagon’s Executive Director Pantelis Michael on FX Liquidity in the Middle East
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How is the current trading landscape in the Middle East?
Pantelis Michael: Dubai has always been seen as a global gateway for the commodities trades. And this is only continuing to grow, with Dubai Multi Commodities Centre recently opening the world’s biggest diamond trading floor at the Dubai Diamond Exchange.
It is also a key hub for Islamic finance, one of the fastest-growing sectors in the world. The sector serves a large portion of the global population that has been largely underserved by the financial services industry. It’s thought that the Islamic finance industry will reach $3.8 trillion in assets globally by 2022, from $2.2 trillion in 2016.
While Islamic finance has traditionally focused on banking and mortgages, it has included investment in its remit more recently, with Sharia-compliant funds now gaining in popularity. As a result, Dubai’s location, along with its Islamic background, makes it the perfect location for Shariah-compliant investment opportunities.
Read the full article on International Business Magazine.
About Broctagon Fintech Group
Broctagon Fintech Group is a leading multi-asset liquidity and full suite FX technology provider headquartered in Singapore with over 15 years of established global presence in Hong Kong, Malaysia, India, Cyprus, Thailand, and China. We specialize in performance-driven and bespoke solutions, serving clients across more than 500 countries with our liquidity aggregator technology, brokerage, and exchange solutions suite, as well as enterprise blockchain development.