Shuaa Capital begins operations in Egypt

27/11/2017 07:03 AST

UAE-based Shuaa Capital, a top financial services firm, said that its securities brokerage arm Shuaa Securities has officially commenced operations in the Egyptian market.

With an initial and dedicated 40 person strong task-force, Shuaa Securities Egypt has been successfully executing its first transactions since being granted approval by the Egyptian Financial Supervisory Authority (EFSA).

Fawad Tariq-Khan, general manager of Shuaa Capital, said: "Shuaa Securities Egypt is an important component of our work to offer clients access to the region's key capital markets. Due to the country's strong economic fundamentals and depth of available opportunities, we have received strong interest in the Egyptian market from clients in 2017.

"Shuaa Securities Egypt will enable us to meet this demand and help us to deliver another significant element of the Group's long-term growth strategy. We thank the Egyptian authorities and regulators for their support and guidance throughout the process."

Securities brokerage is a vital business line for Shuaa's overall Capital Markets service offerings. Through a strategic move, the Group had recently entered into an agreement to acquire 'Integrated Securities', the leading UAE based brokerage firm, thus boosting Shuaa's regional client base, and allowing it to benefit from synergies and better streamlining of operations.

Today, the re-engaging of the Egypt market by a much stronger Shuaa Securities is expected to pave the way for further expansion by the Group's other business lines on the North African platform over the medium term.

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