Dubai Investment Bank Plans Egypt Expansion as Economy Recovers
- Shuaa applied for investment banking, asset management license
- IMF has praised Egypt’s steps to overhaul the economy
The headquarters of Shuaa Capital PSC at Emirates Tower in Dubai, United Arab Emirates.
Photographer: ANDREW PARSONSThis article is for subscribers only.
Shuaa Capital PSC is assessing potential acquisitions in Egypt’s financial services industry as the Dubai-based firm seeks to become one of the country’s five largest brokerages as soon as this year.
Shuaa, whose brokerage is ranked 18th in Egypt by market share, has applied for investment banking and asset management licenses, Chairman Jassim Alseddiqi said in an interview in Cairo on Monday. The expansion could also be through hiring more people, he said.