Swissquote Bank MEA, a Dubai subsidiary of Swissquote Bank, has been granted a Category 4 licence from the Dubai Financial Services Authority (DFSA) and Swissquote Bank 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.
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Swissquote Bank MEA offers an array of banking services across the UAE, GCC and the wider MENA region for asset managers, retail banking and professional clients as well as other financial institutions.
Mario Camara, CEO of Swissquote Bank MEA, said, "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."
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