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Expansion Of Tadawul FX To Limassol, Cyprus
We are delighted to announce the expansion of Tadawul FX into new markets in the new EU member state of Cyprus. Cyprus has long provided a strategic location for companies with business interests in the Middle East and for this reason the island provided a good choice for Tadawul FX also, as its client base continues to grow in the region.
‘Having a regional presence for us means that we can cater to our clients’ needs more immediately and it also allows us to quickly be in our key markets for business meetings very easily,’ says Ramzi Chamat, CEO & Partner of the decision to expand. ‘The decision of the Swiss authorities for forex brokers to require banking licences was a key factor and meant we needed to reevaluate our headquarters location and conditions. The Middle East was a natural choice for us and so Cyprus, with the added benefit of being an EU member, was the next logical step. We have enjoyed many benefits from a good office location, superb telecommunications infrastructure, proximity to our strongest markets and highly qualified, motivated local workforce who now form a key part of our team.’
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