ICEC

UAE’s Shuaa Capital negotiating to re-enter Egypt market

UAE-based integrated financial services firm Shuaa Capital announced that it has formally begun discussions with Egyptian regulators for reintroducing its securities business into the Egypt’s market.

Shuaa Capital’s Board of Directors has set a clear mandate targeting the Egyptian market for the expansion of the firm’s brokerage services under its broader Capital Markets offering.

The decision to restart brokerage operations in Egypt, which was voluntarily suspended previously as the region recovered from the 2008 global recession which impacted trading volumes, is a key component of the Group’s long-term growth strategy, and reflects the firm’s belief in the fundamentals of the Egyptian market and the depth of opportunities available.

“Shuaa Capital believes there still exists significant untapped potential to serve clients eyeing the Egyptian market with our Securities business.” Fawad Tariq-Khan, general manager of Shuaa Capital, said.

“… we have ambitious plans to extend our platforms further beyond our local jurisdictions, to allow clients both current and prospective, direct access to other markets through a single trading account, blended with a suite of increasingly comprehensive brokerage services. We look forward to relaunching operations soon, with the guidance of the Egyptian authorities and regulators.” Tariq-Khan added.

Once reinstated by the respective regulators, Shuaa Securities Egypt will form an important addition to Shuaa’s brokerage network by offering retail and high-net-worth clients from across the region access to the Egyptian capital markets.

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