Published: January 9, 2012
Investment bank extends MENA coverage with El Rashad Securities deal.
Arqaam Capital, a Dubai-based emerging markets investment bank, has agreed to buy Egyptian broker El Rashad Securities.
The financial terms of the agreement with the Al Rashad Holding Company have not been disclosed.
The deal helps Arqaam to build a MENA-wide brokerage and will enable its institutional and high net worth clients to access the Egyptian market.
The agreement is subject to regulatory approval from the Egyptian Financial Supervisory Authority.