Barclays Set To Offer Forex Trading Services To UAE Clients

by Carla Johnson, Investors Offshore.com

07 June 2006

Barclays Bank is set to introduce a new service for its customers in the United Arab Emirates that will allow them to invest in the foreign exchange markets.

According to David Inglesfield, Head of Barclays International Premier in the UAE, foreign exchange is gaining favour as an asset class, and is a potentially good source of investment returns.

"Structuring techniques allow clients to take specific FX exposure in ways which tailor the risk and return profile to their needs, whether to seek better returns or to hedge underlying exposure," Mr Inglesfield said, according to Strategiy.com.

Barclays is today hosting a seminar to inform its clients in the merits of investing in the forex markets. The seminar will be led by two of Barclays’ leading industry specialists – Philippos Kassimatis, Director and Head of FX-Linked Structured Products at Barclays Capital in London, and Karen Aubouy, Global Head of Structured products at Barclays Private Bank in Geneva.

“This seminar presents a great opportunity for us to interact, share information and get feed back directly from our clients," Mr Inglesfield observed.

Barclays International Banking opened its UAE office in 2004 after a survey revealed strong demand for wealth management services from the country's residents.

The Barclays International Premier service provides clients with facilities normally only offered by private banks and is available to clients with a minimum of US$200,000 to invest. Client accounts are held in Geneva, Switzerland, which still applies strict banking secrecy laws.

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