Wednesday 30 August 2017

Shuaa plans reintroduction of Egyptian brokerage business - The National

Shuaa plans reintroduction of Egyptian brokerage business - The National:

"Shuaa Capital, a Dubai-based investment bank, plans to reintroduce brokerage services in the Egyptian market that were suspended in the most populous Arab country after the 2008 financial crisis took toll on trading volumes. Shuaa has formally stared discussions with Egyptian regulators to bring its securities business back to North African country, a key step in expanding its brokerage services which are part of its broader capital markets offering, the firm said in a statement to Dubai Financial Market, where its shares are traded. Shuaa was one of the top investment banks in the region before the global financial crisis hit almost a decade ago. At that time, the firm and several other financial services companies fell on hard times. Many were forced to either close or suspend their brokerage arms as revenues slumped and trading activity came to a grinding halt. The regional economies, which had recovered well from the crisis, are once again facing weaker economic growth on the back of persistently low oil prices."



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