X-rated bid for Amanah

GITEX regular Amanah, is hoping its subsidiary firm Amanah xData will make its mark with visitors this year.

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By  Joanne Bladd Published  September 10, 2007

GITEX regular Amanah, is hoping its subsidiary firm Amanah xData will make its mark with visitors this year.

xData provides application infrastructure solutions to brokers, software companies, data vendors and financial institutions. The firm, whose prime trading target is the Arabian market, claims that by streamlining connectivity, it offers convenience and cost savings to customers.

"This is a brand new product," says business development manager Nader Khan. "Firms can leave the connection headache to us - we provide the back-end hardware."

Commenting on his goals for this GITEX Technology Week, Khan says; "We want to see 500 business cards by the end of the week; people who can add value to our firm."

The company has already inked a deal with Dubai International Financial Exchange, says CEO Nezar Freeny, which could open doors to international traders.

"We are also in the final stages of a contract with Dubai's biggest brokerage firm, to provide services for their Saudi branch," Freeny says, adding that 80% of his business is in the GCC.

The firm is in discussions with a Swiss firm, which offers a similar system to financial institutions outside the GCC. "It could have a huge impact on local brokerage firms; we could facilitate much better transfers," explains Freeny.

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