Arqaam Capital ‘Arqaam’, the specialist emerging markets investment bank, announced that it has successfully completed the acquisition of El Rashad Securities Brokerage, S.A.E. ‘El Rashad’, from El Rashad Holding Company.
The transaction was closed on 5th of April 2012 after Arqaam had received all the necessary regulatory approvals, including consent from the Egyptian Financial Supervisory Authority (‘EFSA’).
El Rashad will be integrated into the Arqaam brokerage platform and rebranded as “Arqaam Securities”, AMEinfo reported.
Dennis Wijsmuller, Chief Operating Officer of Arqaam, said: “We are delighted to announce the successful acquisition of El Rashad. The addition of El Rashad’s brokerage licence, local Egyptian insight and talented employees will provide our clients with access to an expanded range of innovative investment opportunities. We also look forward to working with El Rashad’s existing clients and providing them with the high standard of products and services offered by Arqaam’s regional network.”