New office in Dubai offering asset management services and bespoke account for expats
(Dubai, UAE; June11, 2013)--Swissquote Bank MEA LTD.(SQM) a Dubai, United Arab Emirates, subsidiary of Swissquote Bank SA.(SQB), announces that it has been granted a category 4 license from the Dubai Financial Services Authority (DFSA), and Swissquote Bank SA Central Bank Representative Office License. Swissquote Bank MEA offers an array of banking services across the UAE, GCC and the wider MENA region for retail banking and professional clients as well as for asset managers and other financial institutions. The bank also launched its first retail product in the region, the expat account, which is an All-In-One multi-currency account for Trading and Savings with distinctive advantages to the clients.
Swissquote Bank now operates two offices in Dubai and intends to increase its total staff numbers from 20 to 25 in the coming months. From its prime location within DIFC, the bank provides the comfort of a reliable and secure Swiss bank account by offering dedicated online banking and trading accounts, multi-asset trading platforms and electronic Private banking solutions; all serviced locally through an experienced team.
The Swiss Bank business model is based on providing the latest financial trading technology tobothretail and professional clients, including advancedmanagement tools for professional asset managers and institutions. The progressive integratedasset management platform allows multiple client's assetsmanagement on one online platform enabling grouping of orders, independent and programmable fee structures and even grouping of clients by strategy.
For retail clients, Swissquotelaunchedthe expat account which is aimed at members of the expat community living in UAE who are interested in saving, trading and other investment products. This new product offers easy and efficient access to a Swiss bank account with a multi-asset trading system. It combines flexible trading, saving and electronic private banking accounts with multiple currencies (USD, EUR, CHF, GBP) into one single account.
Commenting on the bank's expansion into the region, Mario Camara, CEO of Swissquote Bank MEA Ltd. said: "We are really honoured to have successfully fulfilled all the requirements by the DFSA and the UAE Central Bank in order to conduct our financial services through the DIFC. We aim to provide the entire range of our exclusive Swissquote banking services in the Middle East. Through the acquisition of ACM ME DMCC, ranked as a FX pioneer, and the gaining of these banking licenses, we are strengthening our presence in one of the fastest growing regions in the world. The ongoing economic boom in the region has resulted in exceptional business opportunities and increase of the expatriates who are in need of advanced and innovative financial solutions."
"We are excited about the introduction of the expat account and convinced of its business potential in the region targeting in the initial phase alone more than half a million Western expats in UAE. With no minimum account balance or maintenance fees, our clients can maintain their savings with superior saving interests, easy to use international transfers in addition to an international credit card linked to the account. Such exclusive combination of advantages is new to the market and we are sure that it will be well received by the customers," added Camara.
For additional information, visit www.swissquote.ae
Swissquote - Banking Self-Made
As a leading provider of online financial services, Swissquote offers innovative solutions and analysis tools to meet the wide range of demands and needs of its clients. As well as various online trading services, the user-friendly platform also provides solutions for eForex, ePrivate Banking, eMortgage and flexible saving accounts. In addition to low-cost service for private clients, Swissquote also offers specified services for independent asset managers and corporate clients.
Swissquote is listed on the SIX Swiss Exchange (SQN) and holds a banking license. The company is subject to supervision by the Swiss Federal Market Supervisory Authority (FINMA) and is a member of the Swiss Bankers Association.
For Further Information:
Please contact
Sameh El Said
Public Relations Director
World Business Times
t. +971 4 354 6655
m. +971 50 904 6741
sameh@world-businesstimes.com
Nadja Keller
Media Relations Manager
Swissquote Bank Ltd
Schützengasse 22/24
CH-8022 Zürich
Tel. +41 44 825 88 01
nadja.keller@swissquote.ch
© Press Release 2013
