SHUAA Capital Initiates Egypt Operations Following Green Light by Egypt Financial Supervisory Authority for securities Brokerage
SHUAA Funding, the United Arab Emirates-based incorporated financial services firm, today announced that its securities broker agent arm 'SHUAA Securities' has actually officially begun operations in the Egyptian market, following green light by the Egyptian Financial Supervisory Authority (EFSA).
With an initial and dedicated 40 individual strong task-force, SHUAA Securities Egypt has been successfully implementing its very first deals because being given approval on 11 November 2017.
SHUAA Capital had earlier confirmed a regional growth and growth approach through both organic and inorganic prospects, and the launch of SHUAA Securities Egypt is testament to the Group's turnaround roadmap. This official existence out of Cairo, is an all-natural expansion to SHUAA's wider broker agent network, permitting retail and high-net-worth clients from throughout the region much easier accessibility to Egyptian resources markets.
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 regions key capital markets. Due to the countrys 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 Groups long-term growth strategy. We thank the Egyptian authorities and regulators for their support and guidance throughout the process.
Stocks brokerage firm is a vital business line for SHUAA's overall Funding Markets service offerings. Through a strategic step, the Group had recently participated in an agreement to obtain 'Integrated Securities', the leading UAE based broker agent firm, hence boosting SHUAA's regional client base, and permitting it to gain from synergies and much better streamlining of procedures. Today, the re-engaging of the Egypt market by a much more powerful SHUAA Securities is expected to pave the way for additional development by the Group's other business lines on the North African platform over the medium term.
