Alex Bank launches the first electronic platform for forex trading in Egypt

Alex Bank, in cooperation with Refinitiv, one of the companies of the London Stock Exchange Group, announced the launch of the first electronic forex trading platform for companies in Egypt, as the first bank in Egypt to adopt the company’s solutions for electronic trading, in the context of enhancing the bank’s business activities and developing its presence in the local and international foreign exchange markets. .

Refinitiv’s electronic trading solutions provide foreign exchange rates through a single system that allows the trading and treasury departments to effectively manage price flows, commensurate with the needs of different customer groups. The launch of the electronic foreign exchange trading platform is also in line with the local legislation and laws adopted in Egypt.

Financial institutions and banks in the Middle East and Africa are increasingly launching digital strategies, in parallel with launching innovative electronic trading solutions to effectively manage pricing, in order to enhance their competitive capabilities, raise the level of service and improve their customer experience, as financial institutions are constantly looking for tools to maintain their competitiveness in The shadow of investment opportunities in the developing region of Africa and the Middle East.

Amr Jamali, Head of Treasury and Asset and Liability Management at Alex Bank, said that the platform will provide solutions for forex trading and provide reliable and direct rates to our corporate clients in the Egyptian market using a practical and effective electronic platform, and cooperate with Refinitiv Siegel at Alawwal Bank to provide a live foreign exchange trading platform for our customers in Egypt.

Nadim Najjar, Managing Director of Refinitiv Middle East and Africa, one of the companies of the London Stock Exchange Group, said: “As the first bank in Egypt to adopt the Refinitiv electronic forex trading platform, Alex Bank will benefit from advanced digital trading solutions, which enhances the bank’s position and the extension of its network Its branches are at the state level and contributes to the growth of its business activities in the field of foreign exchange.”

Hundreds of financial institutions in 80 countries worldwide benefit from Refinitiv’s online forex trading platform. Refinitiv offers multiple solutions in the field of e-commerce, including automation for managing foreign exchange rates for clients, risk management, and others.

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