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SHUAA Capital considers re-entering Egyptian market

Tue, Aug. 29, 2017
CAIRO – 29 August 2017: The UAE-based SHUAA Capital started negotiations with Egyptian regulators for reintroducing its securities into the Egyptian market, CPI Financial reported Monday, August 28.

“SHUAA Capital believes there still exists significant untapped potential to serve clients eyeing the Egyptian market with our Securities business,” General Manager of SHUAA Capital Fawad Tariq-Khan commented.

Khan further explained that the financial services firm intends to extend our platforms to give current and prospective clients direct access to other markets through a single trading account.

“We look forward to re-launching operations soon, with the guidance of the Egyptian authorities and regulators,” the general manager noted.

The board of the financial company has targeted the Egyptian market to expand its brokerage services as a part of its broader Capital Markets offering.

CPI Financial said that SHUAA Capital had voluntarily suspended its brokerage operations in Egypt as the region recovered from the 2008 global recession which impacted trading volumes. The company’s decision to restart operations reflects the firm’s belief in the fundamentals of the Egyptian market and the depth of opportunities available.

SHUAA Securities Egypt will offer retail and high-net-worth clients from across the region access to the Egyptian capital markets, to form an important addition to SHUAA’s brokerage network.
 
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