The first Swiss Forex broker to obtain a Swiss banking license, MIG BANK continues its ascent

Neuchâtel, December 10th, 2009 - Neuchâtel-based Foreign Exchange Broker MIG, is the first currency trading company in Switzerland to be approved by the Federal Financial Market Supervisory Authority (FINMA), thus becoming MIG BANK. The revision of the decree on banks affecting Forex brokers came into effect on April 1st 2009 and means that Swiss Forex companies must obtain a banking license to continue their activity.

As the first Forex broker to obtain a banking license in Switzerland and the third bank headquartered in Neuchâtel, MIG BANK has taken a decisive leap forward in its development, enabling it to accelerate its growth in Switzerland and internationally as a provider of specialized currency trading services and products for private and institutional clients.

“This outcome is no coincidence,” states Hisham Mansour, CEO of MIG BANK. “We anticipated FINMA's requirements and have been preparing for this change in status for nearly 2 years. Obtaining the banking license is a major phase in our planned development. It will allow us, in particular, to diversify our activities by providing brokerage services in precious metals and offer other added value services as well.”

MIG BANK aims to offer two key service skill sets to its clients: the rigor and security of a Swiss bank, coupled with the versatility and responsiveness associated with a Forex broker. “As one of the global leaders in online Forex trading, we will continue to focus The first Swiss Forex broker to obtain a Swiss banking license, MIG BANK continues its ascent on Forex services and products as a bank. Among our distinguishing features is our ability to provide clients with the best trading conditions, a high level of service and now the security of a Swiss Bank, in a financial market that allows for large volumes to be handled and that has experienced a sharp increase in popularity,” adds Hisham Mansour.

MIG BANK's journey is a true success story. Established in Neuchâtel in 2003, under the name MIG Investments SA, MIG BANK today employs close to 100 people of different nationalities speaking more than 30 languages, thus providing the necessary communication and cultural skills to serve customers in over 120 countries. The company is committed to leading innovation in its sector in terms of technology, having set up an IT Research division in Amman, Jordan, as well as in terms of operational integrity, through ISO certifications for quality and information security, and a philanthropic agenda with UNICEF, now in its third year of partnership.

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MIG BANK
Ilgar RUSTAMOV
Head of Marketing
Member of Management

Phone: +41 32 722 83 00
Fax: +41 32 722 86 71
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Website: www.migbank.com