<p>Noor Capital, a Dubai-based
forex and CFDs broker, has acquired “directly or indirectly” 75% or more shares
holdings in House of Borse, the latter’s UK <a href=”https://find-and-update.company-information.service.gov.uk/company/09137156/filing-history” target=”_blank” rel=”follow”>Companies House filing</a> shows. Mohammad Alkahtani, who previously
controlled House of Borse, has ceased to be a person with significant control,
another filing shows.</p><p>Noor Capital’s majority
shareholding in House of Borse, which has been <a href=”https://www.financemagnates.com/forex/brokers/exclusive-new-fca-regulated-brokerage-house-of-borse-launches-via-stpdma-model/” target=”_blank” rel=”follow”>operating since 2016</a> as a traditional <a href=”https://www.financemagnates.com/terms/p/prime-broker/” class=”terms__main-term” id=”a832c760-2f0a-4b1d-9d06-3c2449c7146c” target=”_blank”>prime broker</a>, means that the
18-year-old brokerage firm is planning its expansion into the United Kingdom.
The firm, which has established its presence in the Middle East, boasts of shareholders from the UAE, Kuwait, Saudi Arabia, Qatar and Bahrain.</p><p>However, unlike Noor Capital,
House of Boorse, which is regulated by the UK Financial Conduct Authority, only
serves professional clients. House of Boorse serves as a market facilitator and
aggregator, providing clients with direct market access to a wide range of bank
and non-bank <a href=”https://www.financemagnates.com/terms/l/liquidity-providers/” class=”terms__secondary-term” id=”fd90fbbf-614f-4d02-b500-72b78ab4dc6e” target=”_blank”>liquidity providers</a> as well as electronic communication networks.</p><p>Although relatively young, House
of Boorse <a href=”https://www.financemagnates.com/forex/brokers/house-of-borse-ends-fy22-with-71-revenue-rise/” target=”_blank” rel=”follow”>reported almost 1,400% year-over-year
growth</a> in net profit for fiscal
year 2022 that ended on July 31. The brokerage firm also generated a revenue
of £1.02 million during the period, which is a 71% increase from prior
year. </p><p>Noor Capital’s Top Executives Join House of Borse as Directors</p><p>Meanwhile, <a href=”https://find-and-update.company-information.service.gov.uk/company/09137156/filing-history” target=”_blank” rel=”nofollow”>other House of Borse’ UK Companies
House filings</a> seen by Finance Magnates also show that Noor Capital’s Mohammad Ghousheh and
Muhammad Al Zou’bi have been appointed Directors at the House of Borse. Ghousheh, who joined Noor
Capital as a Financial Controller in April 2006, has been running the brokerage
firm as Chief Executive Officer since November 2016. He first served as CEO in an acting
capacity and later took on the position in a permanent capacity in 2018. </p><p>On the other hand, Al Zou’bi has been
working with Noor Capital as General Manager since January 2011. Meanwhile, Wahb Ahmed, a former Saxo Bank executive, has been running House of Borse as CEO since August 2015. </p><p>Noor Capital is registered with
the Abu Dhabi Department of Economic Development. In addition to online
trading, the firm provides investment management and financial advisory
services.</p>
This article was written by Solomon Oladipupo at www.financemagnates.com.
