DUBAI – The MENA region has recorded a remarkable 2500 percent increase in its internet users over the past 10 years, according to the latest research by Arabnet and Discover Digital Arabia. With 72 million Internet users and a mobile penetration rate of virtually 100 percent, it is expected that there will also be a significant growth in online trading. A closer analysis of the latest figures reveals the convergence between mobile and Internet usage, with the region shifting towards internet-enabled mobile devices. The penetration rates for such devices currently stand at 69 percent for Saudi Arabia, 58 percent for the UAE and 41 percent for Egypt. In addition, 34 percent of tablet owners have purchased applications and the demand is expected to grow. Mubasher Financial Services (MFS) is contributing to this trend by making online security a cornerstone of its award-winning trading platform. Malek Kanawati, CEO of Mubasher, said: “The region has high Internet penetration rates, but initially this did not automatically translate to high rates of online trading because many investors first needed reassurance about the security of online transactions. We are helping to bridge this gap by delivering the strongest possible security features.” – SG
