SHUAA Capital initiates Egypt operations

SHUAA Capital, the UAE-based integrated financial services firm, today announced that its securities brokerage arm, ‘SHUAA Securities’, has officially commenced operations in the Egyptian market, following a green light from the Egyptian Financial Supervisory Authority, EFSA.

With an initial and dedicated 40 person strong task-force, SHUAA Securities Egypt has been successfully executing its first transactions since being granted approval on 11th November, 2017.

SHUAA Capital had earlier confirmed a regional growth and development strategy via both organic and inorganic prospects, and the launch of SHUAA Securities Egypt is testament to the group’s turnaround roadmap. This official presence in Cairo is a natural extension to SHUAA’s broader brokerage network, allowing retail and high-net-worth clients from across the region easier access to Egyptian capital 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 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."