Cairo – Mubasher: The Egyptian Financial Regulatory Authority (FRA) approved a request by Mubasher International Trade for Securities (MubasherTrade) to raise its capital to EGP 63 million from EGP 21 million.

Mubasher Capital Holding for Financial Investments, the parent company of MubasherTrade, is looking to strengthen its subsidiaries in Egypt through enhancing its financial capabilities in order to boost its footprint and competitiveness in the local market amid the current economic uncertainties, vice chairman of Mubasher Capital Ehab Rashad said.

The capital increase is aimed at raising the number of branches of MubasherTrade in Egypt to 50 over three years. In addition, the company is developing a new e-trading programme, which will accessible for customers for free by the end of 2020.