Delma Exchange, the leading foreign exchange provider in the UAE, announced the appointment of Zahir Moghal as Chief Executive Officer.
Mr. Moghal was previously Managing Partner at Delma Exchange and replaces Stewart Blake, who was appointed Vice Chairman and remains on the Board of Directors.
Chairman Abdul Jabbar Al Sayegh said: “Zahir from the beginning has had a clear vision for Delma Exchange and drives the company to be a global institution recognised for its expertise in delivering world class solutions for our clients in every aspect of foreign exchange.”
Mr. Moghal joined Delma in 2011 and has contributed to a dramatic increase in transacted and remitted funds to a value of more than 5 billion dirhams in 2017. From a base of retail clients, Mr. Moghal introduced and developed the corporate division with the support of his partners. It now accounts for a majority of the company’s turnover and began handling institutional foreign exchange in 2018.