Shuaa Capital relaunches securities brokerage business in Egypt

Shuaa Capital, the Dubai-based investment bank, has re-launched its securities brokerage business in Egypt as part of plans to expand the bank’s capital markets offering in the Middle East and North Africa (Mena).

Shuaa Securities commenced operations in the Egyptian market on Sunday after securing official approvals from the Egyptian Financial Supervisory Authority (EFSA).

Shuaa suspended its brokerage business in Egypt after the global financial crisis in 2008 hit trading volumes.

“The launch of Shuaa Securities Egypt is a natural extension to Shuaa’s broader brokerage network, giving retail and high-net-worth clients from across the region easier access to Egyptian capital markets,” the bank said.

“The re-engaging of the Egypt market by a much stronger Shuaa Securities is expected to pave the way for further expansion by the group’s other business lines on the North African platform over the medium term.”