The Chwafa is one of the oldest but one of the most powerful, trading floors in the Middle East. It is the largest market in the Middle East and the largest and busiest trading market in Europe. Its origins can be traced back to the early eighteenth century when it was opened by the Sheikh Sultan ibn Sa'id al-Nahyan. Over the past few centuries, the Chwafa has become a vital link between Europe and Asia, with more than twenty thousand traders passing through its gates every day.
For many years it was the biggest and the busiest trading center in the world. It is situated in New York City and it was founded by a Moroccan Jew named Joel Simon. In addition, it is a major tourist attraction for many other countries in the world. It has become a must see tourist attraction as well as a place where traders gather to buy and sell all sorts of goods. The Chwafa is also known as a trading center for the sake of its size. It is a huge space that can accommodate almost fifty thousand persons per day and has a twenty-four hour trading schedule.
The Nassim Khan opened the Chwafa in Manhattan. He wanted the market to become a big enough market to be able to provide all the goods and services required in the modern world. He believed that there were some things that could not be provided by the state in terms of infrastructure. He therefore decided to build a trading center that would be able to cater to the needs of the world's modern population.