It looks like Jordan is slowly becoming the next Cyprus, at least as far as the Middle East is concerned.
For the second day in a row, we have news of a significant Retail FX broker setting up shop in Amman, and receiving a license from the Jordan Securities Commission.
CFI Financial Group Holding, which operates the global CFI Markets brand, has announced that it has received a financial services license of its latest subsidiary company: Credit Financial Invest for Financial Brokerage Limited (CFI Jordan) based in Amman.
Last year CFI expanded in the region opening a licensed Dubai DIFC forex brokerage operation. CFI also has licensed operations and subsidiaries in Cyprus and Lebanon.
Regulated by the Jordan Securities Commission, the firm stated that it will enjoy a pole position to provide the most professional services while ensuring high security for all its clients. The Company’s offices are located in Al Rabieh Towers 3rd floor, Abdullah Ben Rawahah street, Al Rabieh, Amman – Jordan.
CFI Jordan will focus on using its expertise to offer Financial Brokerage Services on international as well as on local markets, providing investors with a wide coverage of investment products. Investors will be able to open their accounts directly with CFI Jordan, for trading CFDs on FX, Bullion, Commodities, Indices as well as other financial instruments listed on the Amman Stock Exchange. In addition, the company will offer Financial Consultancy services and has already engaged highly qualified experts in the domain.
The news comes just 24 hours after we reported that Equiti Group, the parent company of prime brokerage provider Divisa Capital and Retail FX arm Equiti Global Markets (Equiti.com), also established a licensed subsidiary in Jordan.
In a joint statement, CFI Financial Group Holding’s Founders and Managing Directors, Hisham Mansour and Eduardo Fakhoury, declared:
We’re thrilled to announce receiving the Jordan Securities Commission license for our new subsidiary CFI Jordan.
As the first multinational firm to apply for a license in Jordan, we have established our commitment to this new market by making an early move following the issuance of the recent regulations. Just as we usually proceed in other countries, we are committed to providing excellence and the utmost level of professional financial services to our Jordanian clients as well. We have appointed expert staff and equipped our operations with all of what is needed to best serve our clientele, with the aim of becoming the leading firm in Jordan for trading on local and global markets.
CFI Jordan is in the final stages of preparations to be operational and expects to launch fully its activities in February 2018.
The Group holds a majority of stakes in Credit Financier Invest SAL, Lebanon, Credit Financier Invest (DIFC) Ltd., Dubai, CFI Jordan and CFI Markets Ltd., Cyprus.