Broker News

UAE’s Noor Capital Acquires 75% Stake in House of Borse UK

Noor Capital, a Dubai-based forex and CFDs broker, has acquired an overwhelming 75% of the shares in House of Borse – as evidenced by UK Companies House filing. As such, Mohammad Alkahtani’s control over the company has been terminated – another filing reveals.

Noor Capital’s dominant ownership in House of Borse, which has been providing prime brokerage services since 2016, signals that the 18-year-old company is now looking to extend its operations into Great Britain. This firm is highly popular among shareholders from nations such as UAE, Kuwait, Saudi Arabia, Qatar, and Bahrain due to its successful foray throughout the Middle East region.

In contrast to Noor Capital, House of Borse is regulated by the UK Financial Conduct Authority and only serves professional clients. As a market facilitator and aggregator, the company provides customers with direct access to numerous banking and non-banking liquidity providers and electronic communication networks.

With only a few years on the market, House of Borse had an astonishing 1,400% year-over-year growth in net profit for 2022. It is even more impressive when you consider that revenue increased by 71%, bringing it to £1.02 million from the previous fiscal year! This brokerage firm has made incredible strides toward success and profitability in just one short period.

Top Execs from Noor Capital join House of Borse as directors.

According to UK Companies House filings, Mohammad Ghousheh and Muhammad Al Zou’bi have been appointed as Directors of the House of Borse. Ghousheh joined Noor Capital in 2006, where he served as a Financial Controller, becoming Chief Executive Officer in 2016 on an interim basis, then later taking it up in a permanent capacity two years ago.

Alternatively, Al Zou’bi has served as Noor Capital’s General Manager since 2011. And Wahb Ahmed, a former Saxo Bank leader, has been CEO of the House of Borse since 2015.

By registering with the Abu Dhabi Department of Economic Development, Noor Capital is proudly devoted to offering reliable online trading and investment management services and innovative financial advice.

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