Malek Kanawati, CEO of Mubasher
MUBASHER BAHRAIN, a subsidiary of brokerage firm Mubasher Financial Services (MFS), is now offering trading in Chinese Yuan (CNY or Renminbi) to its accredited investor customers.
CNY has become one of the world’s most desirable currencies due to China’s growing influence in the global economy. As the world’s biggest exporter and second biggest importer of goods, China participates in approximately 11% of global trade. These factors make it increasingly likely that CNY will become a widely accepted international settlement currency like the US Dollar and the Euro.
Chinese currency trades as CNY in onshore markets and CNH in offshore markets. To give clients greater flexibility, Mubasher is offering four pairs of CNH/USD and CNH/JPY as Contracts For Difference (CFDs) and foreign exchange spot transactions (Spot FX). The firm also plans to add more tradable major instruments against Chinese Yuan.
Malek Kanawati, CEO of Mubasher commented: “Our introduction of Chinese currency trading is part of a much bigger plan to take our clients beyond their geographic boundaries, so they can take advantage of the best opportunities across global markets. Whether through our strategic agreements with overseas partners, pioneering new technology or introducing new services, we will invest our efforts into expanding our clients’ options so that their returns match their ambitions.”
