As reported by Thomson Reuters and Bloomberg:
July 10, 2016 08:00 PM Eastern Daylight Time
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Mr. Naser Taher, the Chairman of MultiBank Group, announced today the restructuring of the Group under a new trademark name of “MultiBank Group” (“MultiBank Group”), with a new holding company based in California, USA.
As part of the restructuring, the MultiBank Group also announced today the establishment of a ground-breaking Forex Exchange Communication Network, which will commence its operations on Monday 18th July 2016 under the name MultiBank.
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At the heart of the MultiBank is an advanced price matching engine, offering clients the ability to trade currencies with greater liquidity, speed, reliability, transparency and the highest level of market depth so as to form a complete exchange trading platform serving individuals, brokers, financial institutions and banks, which shall also involve client to client technology. In addition, Mr. Taher announced that the newly restructured Group has amalgamated its asset portfolio with 100% of the shares and assets of MultiBank Group, an online financial services group with assets in China, Hong Kong, UAE, Australia, as well as the Datong brand name, being a high-quality and well-reputed financial brand in China.
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Under this restructuring, the MultiBank Group will comprise of numerous companies, which are regulated by some of the strictest regulatory bodies worldwide, with over 180,000 customers in more than 90 countries trading in excess of $3.2 billion in volume daily, having net capitalized assets in excess of $320 million, becoming one of the largest global online financial brokerage providers, operating exclusively under a new management team and corporate body headed by Mr. Taher.