News

Kraken to offer AED virtual assets trading

Crypto exchangeKraken Mena, the regional arm of the digital asset exchange, has partnered with Abu Dhabi-based Rakbank to offer UAE residents the ability to trade virtual assets in their own currency. As an institution regulated by the Central Bank of the UAE, the partnership with Rakbank will enable Kraken’s UAE-based clients to fund their crypto trading through fund transfers from their local bank accounts. The alliance comes after Kraken became the first global firm to be granted a licence from the Abu Dhabi Global Market to operate a virtual asset exchange platform. Up to now, UAE residents have been forced to use correspondent banks based overseas when trading virtual assets, a process which incurs foreign exchange fees and is subject to overseas-jurisdiction asset governance. “The UAE is emerging as a global hub for the crypto and virtual assets industry,” said Raheel Ahmed, Chief Executive Officer of Rakbank.  “We are pleased to support the UAE’s vision of becoming a global hub for virtual assets. We believe this offering will enable a simpler, faster and cheaper solution for UAE residents,” added Ahmed. ©2022 funds global mena

Executive Interviews

INTERVIEW: ‘Financing is the blood of Iran’s economy’

Amid a fresh wave of American sanctions, Romil Patel spoke to Meysam Hamedi, director of financial markets and instruments at Iran’s Securities & Exchange Organization (SEO).

INTERVIEW: Totally mega

In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...

INTERVIEW: Protecting the investment

Rasmala’s trade finance fund recently passed $100 million in assets. Doug Bitcon, head of credit strategies, explains why he has to be hands-on.

EXECUTIVE INTERVIEW: A natural interest in the topic

Since 2016, Guillermo Ortiz has been a chairman of Latin America’s BTG Pactual. The former central banker of Mexico talks to Nick Fitzpatrick.

Roundtables

Middle East Investor Roundtable 2020: Dimensions of diversification

Investors in the Middle East consider the tools that will be needed to navigate the Covid-19 crisis, the continued appetite for dividend and why it’s all about tech. Chaired by Romil Patel.

South Africa asset management roundtable: Global rebound on ice

Experts discuss the investment implications of the coronavirus pandemic, a delayed rebound in global growth and dealing with South Africa’s energy issues head on. Chaired by Romil Patel in Cape Town.

South African roundtable: Taking the bull by the horns

Our panel discusses Chinese investment in Africa, financial institutions’ contribution to economic sustainability and regulatory concerns. Chaired by Romil Patel in Cape Town.

ROUNDTABLE: Hooked to the global caravan

With the MENA region at a tipping point, our panellists talk about economic diversification, the impact of regulation and the delayed Saudi Aramco listing. Chaired by Romil Patel in Dubai.