Jordan could serve as backbone of region’s foreign exchange market, says Equiti Group CEO

Equiti Group Chief Executive Officer (CEO) Iskandar Najjar commended Jordan Securities Commission (JSC)’s decision to license international stock exchange companies, saying the move sets the ground for the establishment of a robust technical infrastructure in this domain by enhancing investors’ confidence in foreign stock exchange companies regulated by the JSC.

On the sidelines of the Jordan AFAQ Economic Conference, Najjar told an interview with Petra that targeting medium and long-term investment and shying away from speculation as much as possible reduces the risk of investments in the brokerage industry.

Equiti Group holds specialized technical workshops and lectures through a technical academy established for this purpose, to raise awareness among traders in this industry and pinpoint risks, Najjar indicated, noting that his company’s clients set up experimental financial accounts where prices of currencies, minerals and movement of indicators are realistic.

Najjar stressed that the opportunity exists for Jordan to attract foreign investment in this industry thanks to legislation and regulatory frameworks that addressed obstacles placed by the laws of some regional countries in addition to the fact the EU introduced righter controls on this industry pushing investments to the Middle East, specifically Jordan.

He said he expects Jordan to serve as backbone of the industry in the Middle East in the next few years, pointing out that the Kingdom has adequate technical expertise and human resources that have sufficient experience to successfully lead the sector.

Equiti Group has recently obtained the required licenses with its client base expected to reach 200 clients in the first year of its operations and total deposits exceeding $100 million, Najjar concluded.

Source: Jordan News Agency