Equiti Group and Saudi Arabia’s Riyad Bank tie-up for FX liquidity
In line with Equiti Group’s strategic efforts to provide liquidity to banks around the world, the Executive MD of Equiti Group, Mohamed Alahmad, announced that an agreement with Riyad Bank is now in effect to provide FX liquidity to the bank using the Equiti platform.
The Group’s UK based entity, Equiti Capital, will provide its trading infrastructure and a 24-hour FX service to the bank.
Riyad Bank is one of the largest and most successful financial institutions in the Kingdom of Saudi Arabia, established in 1957 with over 5600 employees, and is well-known for offering a wide array of services and products.
Commenting on this agreement, Hormoz Faryar, Global Head of Institutional Sales, said “The co-operation with a prominent partner like Riyad bank highlights the progress we made in the region over the last couple of years. As we continue to expand our operations, both in the region and around the world, we are looking forward to extend our network of partners.”
Equiti Group is a brokerage provider with a global footprint that includes local offices in the Middle East, North America, Europe, and the Asia Pacific regions and provides trading support and services to individual, corporate and institutional clients.