FNG Exclusive… FNG has learned that Retail FX and CFDs brokerage group TeraFX has started building out its team in the UAE following its recent license grant (see more on that below), beginning with the hiring of Mohamed Halim as the company’s new Regional Head of Business Development – MENA.

Mohamed Halim had spent the past two and a half years with Chinese controlled FX broker ATFX, as ATFX’s Institutional Business Development Manager in Dubai. Mr. Halim had previously worked in a variety of sales, customer service and business development roles at GKFX, Noor Capital Markets, HYCM and Swissquote.

As was also reported exclusively by FNG back in June, TeraFX recently received a Draft License Notice from Dubai financial regulator DFSA. The license will allow TeraFX to expand to Dubai, and engage in providing trading in a range of securities from a new Dubai International Financial Centre (DIFC) branch.

Burak Akbulut, CEO of Tera Europe, commented to FNG:

“We are pleased to announce Mohamed as our Head of Business Development for the Mena region. He will use his extensive network and experience to lead our sales effort in the region, following the establishment of our new DIFC Branch office. He will report to our SEO, David George, former MD at Goldman Sachs and Merrill Lynch. We wish him well and look forward to a successful venture offering our Fixed Income, Equity and FX product into the region.”

TeraFX is controlled by Turkish businessman and former politician Oğuz Tezmen, and his son Emre Tezmen. The Tezmens control Turkish investment bank Tera Yatirim with a more than 80% holding, and through it the UK company Tera Europe Limited which operates the terafx.com website. Tera Europe Limited has been licensed by the FCA since 2012.

Oğuz Tezmen was Turkey’s Minister of Transport in the mid-1990s.