Shuaa Capital seeks regulatory approval to re-enter Egyptian market
Shuaa Capital seeks regulatory approval to re-enter Egyptian market: UAE’S Shuaa Capital is looking to re-enter the Egyptian market and says it “has formally begun discussions with Egyptian regulators for reintroducing its securities business into the Egyptian market,” CPI Financial reports. “Shuaa Capital believes there still exists significant untapped potential to serve clients eyeing the Egyptian market with our Securities business. Moreover, 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,” General Manager Fawad Tariq-Khan says. Once reinstated in the Egyptian market, Shuaa Securities Egypt will offer high-net-worth clients from across the region access to the Egyptian capital markets. Shuaa had suspended operations in Egypt in 2008 as the global financial crisis swamped the UAE.