Mubasher’s award-winning trading platform helping to raise investor confidence in online security
The MENA region has recorded a remarkable 2500% increase in its internet users over the past 10 years, according to the latest research by Arabnet and Discover Digital Arabia. With 72 million internet users and a mobile penetration rate of virtually 100%, it is expected that there will also be a significant growth in online trading. Mubasher Financial Services (MFS), one of the region’s top brokerage firms with subsidiaries in the UAE, Bahrain and associate companies in Egypt and Libya, is contributing to this trend by making online security a cornerstone of its award-winning trading platform.
Malek Kanawati, CEO of Mubasher, explained: “The region has high internet penetration rates, but initially this did not automatically translate to high rates of online trading because many investors first needed reassurance about the security of online transactions. We are helping to bridge this gap by delivering the strongest possible security features. In the process we are not only raising confidence and interest in online trading, but also raising the bar in our industry.”
A closer analysis of the latest figures reveals the convergence between mobile and internet usage, with the region shifting towards internet-enabled mobile devices. The penetration rates for such devices currently stand at 69% for Saudi Arabia, 58% for the UAE and 41% for Egypt. In addition, 34% of tablet owners have purchased applications and the demand is expected to grow.
Mr Kanawati added: “Mubasher has been building on its rating as the ‘Best Online Trading Platform’ by developing versatile applications that are compatible with various smart devices. This gives investors maximum flexibility, facilitating real time access to their investments around the clock and around the world. Above all, it democratizes the trading process by making it more inclusive to ambitious investors across the region.”