“The region has high internet penetration rates, but initially this did not automatically translate to high rates of online trading because many investors first needed reassurance about the security of online transactions. We are helping to bridge this gap by delivering the strongest possible security features. In the process we are not only raising confidence and interest in online trading, but also raising the bar in our industry,” Malek Kanawati, CEO of Mubasher, said.
A closer analysis of the latest figures reveals the convergence between mobile and internet usage, with the region shifting towards internet-enabled mobile devices. The penetration rates for such devices currently stand at 69% for Saudi Arabia, 58% for the UAE and 41% for Egypt. In addition, 34% of tablet owners have purchased applications and the demand is expected to grow.
“Mubasher has been building on its rating as the ‘Best Online Trading Platform’ by developing versatile applications that are compatible with various smart devices. This gives investors maximum flexibility, facilitating real time access to their investments around the clock and around the world. Above all, it democratizes the trading process by making it more inclusive to ambitious investors across the region.” Kanawati added.