By: Ahmed Allam

Cairo – Mubasher: UAE-based SHUAA Capital is planning to expand into Egypt, chairman of SHUAA Capital and CEO of Abu Dhabi Financial Group Jassim Alseddiqi said.

Launching SHUAA Capital Egypt is a major step towards further expansion in the Middle East, Alseddiqi highlighted on the sidelines of launching the company in Egypt.

The company aims at recording strong financial results in 2018 after the powerful recovery in 2017 profits, which is a turning point for the Emirati company, he added.

“We [SHUAA] believe in Egypt’s abilities in promising investment opportunities and strong financial system, in line with implementing the economic reform plan,” he continues.

He revealed that SHUAA had started operations in Egypt in the brokerage business, while it seeks to be an investment bank to provide all financial services for the Egyptian investment banks in 2018.