Continuing its impressive journey, CMS Financial proudly attains the highly sought-after Securities and Commodities Authority (SCA) License. Majid Jalali, Chairman of CMS Financial, reflects on the company's remarkable progress and shares his vision for the next five years.

by Anam Khan

Could you walk us through your professional journey and share the story of how you became the Chairman of CMS Financial?

I embarked on my professional journey with a postgraduate degree in economics in the year 1996 when I joined a London-based company in the same industry. After a few years, I made a significant move, bringing my business endeavours to the Middle East. This move eventually led to the establishment of CMS in 2004, and since then, I've called Dubai my home. Over nearly three decades, I've immersed myself in every facet of the financial brokerage landscape and earned a global reputation for innovation in capital markets products (OTC) and FINTECH. Today, I take great pride in introducing myself as the Chairman and a shareholder of a widely respected financial institution, both regionally and on a global scale.

Could you share some insights into CMS Financial and the range of services it offers?

CMS Financial proudly stands as a beacon of financial integrity, boasting an illustrious two-decade legacy of operational excellence within the region. We have earned esteemed recognition as a member of the Dubai Gold and Commodities Exchange since 2007, where we have been active as a member and a market maker.

In a recent triumph, we reached the pinnacle of regulatory standards by securing a coveted category-one license in OTC markets from the UAE Securities and Commodities Exchange—the foremost authority in UAE capital markets. This accomplishment signifies a momentous milestone, a distinction achieved by only a select few financial firms in the UAE.

Beyond mere regulatory compliance, this achievement underscores our unwavering dedication to complete transparency, ensuring the utmost safety and security for our valued clients. It solidifies CMS Financial's position as an unwavering institution, radiating stability and trustworthiness throughout the financial landscape.

Can you share some of the obstacles you encountered and the strategies you employed to surmount them?

When addressing the array of challenges in our industry, we acknowledge the customary hurdles such as competition, maintaining service quality, and delivering exceptional customer support and satisfaction. These factors are inherent and crucial. However, within the financial realm, we grapple with even more substantial and intricate challenges. One of the foremost challenges, not unique to us alone, is managing counterparty risks alongside staying at the forefront of technological advancements.

The challenge of counterparty risks cannot be overstated. Effectively mitigating these risks demands a delicate equilibrium of expertise, comprehensive analysis, and unwavering vigilance. Additionally, the financial landscape is being transformed by rapid technological evolution, necessitating our constant attention and adaptive strategies to remain relevant and provide innovative solutions to our clients.

In our favour, our dedicated team, equipped with extensive experience and a profound understanding of global markets, has consistently positioned itself a step ahead. This strategic foresight has empowered us to navigate these challenges. As we celebrate our 20th establishment anniversary, we take immense pride in our ability not only to endure but to thrive within the dynamic and demanding financial landscape.

What sets you apart from your competitors?

As everyone expected the UAE and our region as a global opportunity for global business, we stand as a testament to the last 20 years. Our position is distinctly ahead, a solid two decades in advance of our major global competitors. We lead at the zenith, armed with the latest global technology and a deep understanding of the business and market culture unique to this region.

Setting ourselves apart, we excel in comprehending customer service, surpassing the majority of our competitors. Our unwavering commitment to transparency and fairness reigns supreme, prioritising these values over profits. Safeguarding our client's funds is more than a responsibility—it's a principle we honour, valuing our customers not just for their financial standing, but for who they are. This embodies what we proudly call the CMS Financial Culture.

All of these points form the bedrock of our approach, not just to compete but to triumph in this ever-evolving and demanding landscape.

To what extent does technology factor into your company's operations, and what measures do you employ to remain aligned with the rapidly evolving trends in this field?

Since 2006, we have unequivocally recognised FINTECH as the linchpin for progress. This realisation propelled us to invest significantly in aligning our business with its requirements and maintaining a vigilant eye on advancements, integrating new technologies seamlessly. Confidently, we can assert that we possess one of the most superior FINTECH infrastructures in the industry.

Can you highlight some of your key milestones and achievements?

When a company not only survives but thrives in the competitive landscape of capital markets for two decades, it represents a remarkable achievement. This success isn't confined to regional boundaries; it resonates globally. As previously highlighted, becoming a distinguished member of an international derivatives exchange and actively participating in market-making activities are aspirations shared by countless companies worldwide. Now, add to that the pinnacle achievement of attaining the highest level of regulatory approval in the UAE within our industry. We haven't simply fulfilled these aspirations; we've transformed them into triumphant realities.

Where do you see CMS Financial in the next five years?

Our past plans have thankfully come to fruition, and as I look ahead to the future, I am filled with a deep passion for what lies ahead. Today, we stand at the intersection of our history and our future. Our objective is to elevate CMS Financial beyond being just a company and transform it into a prominent financial corporation with a global footprint, gaining widespread recognition and profitability in preparation for an IPO.

Our enduring ambition is to consistently conduct ourselves in a manner that not only makes Dubai and the UAE proud of us today but ensures their continued pride in us for all the days to come. 

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