Business & Money | Sunday 8 November, 2015 1:56 pm |

Amana Capital, the leading Middle Eastern financial services group specialized in online trading and consultancy services, announced today that it has started implementing the second phase of its multi-phase expansion plan, after the success achieved in the first phase. 

During phase one, the company successfully expanded its brand presence in key markets all over the Middle East and North Africa(MENA) region. However, the focus of the new phase will be on the Asian markets, which constitute a major global financial power. The Asian region combines financial centers poised for strong growth and might outperform some of the European financial hubs in the upcoming years. 

In addition to that, Amana Capital began preliminary studies to determine potential markets in Africa, mainly countries bordering the Atlantic Ocean, where the demand for similar financial services is increasing. 

In-line with this expansion, Amana Capital established an Institutional Relations department in London earlier this year and appointedNina Baksh to lead the department. Nina has a long experience in building and managing institutional relationships and worked previously in prestigious financial firms focusing on similar markets such as China, India, Pakistan, Malaysia and Singapore. 

In parallel, Amana Capital is in the process of moving to a new office in London in order to accommodate and support the group's new expansion plans, while maintaining quality customer service in its fast-growing business. The new office will be located in the City,London's financial hub. 

In this regard, Mr. Ahmad Khatib, CEO of Amana Capital said: "These steps fall within our objectives to become an international group." He added: "We believe that the best time to expand is now, but that doesn't mean that we will be shifting our focus from one region to another or going to take any hasty steps. As a matter of fact, we have been carefully studying the situation before deciding on the expansion moves, while continuing to focus on the MENA region, providing the best services to our clients." 

He also noted that the expansion plans are likely to be executed through both the acquisition of established companies in some countries, in addition to the set-up of greenfield companies in other countries.