By: Heba El-Kordy
Cairo – Mubasher: Egypt’s Financial Regulatory Authority (FRA) has approved to license Mubasher Capital Holding, a subsidiary of Al Safwa Mubasher Financial Services (MFS), the CEO of MFS said.
MFS is set to offer the new firm on the Egyptian Exchange (EGX) after turning into a full-fledged investment bank, Ehab Rashad told Mubasher.
Mubasher Capital will be listed with EGP 200 million in capital, Rashad said.
He highlighted that Mubasher Capital will acquire Mubaher brokerages and financial consulting companies, pointing out that new activities will be added to the company to turn into an integrated investment bank.
It is worth noting that MubasherTrade and Al Safwa for Islamic Financial Services were merged in 2016 with AED 564 million in capital under the name of Al Safwa Mubasher Financial Services.
