Swissquote Bank expands in UAE

Swissquote Bank MEA Ltd, a Dubai-based bank and subsidiary of Swissquote Bank SA, announced that it has been granted a Category 4 licence from the Dubai Financial Services Authority (DFSA) and Swissquote Bank SA representative office licence from the UAE Central Bank.

Swissquote Bank now operates two offices in Dubai and intends to increase its total staff number from 20 to 25 in the coming months.

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 to conduct our financial services through the DIFC. We aim to provide the entire range of our Swissquote banking services in the Middle East.

“Through the acquisition of ACM ME DMCC, an FX pioneer, and the gaining of these banking licences, 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 business opportunities and increase in the number of expatriates who are in need of innovative financial solutions," added Camara