Cairo - Mubasher: Mubasher Trade Egypt announced the launch of a trading platform for non-resident foreigners to trade in more than 70 international stock exchanges, including the Egyptian Exchange (EGX).
For the first time in Egypt, non-resident foreigners will be able to trade in international capital markets through the trading platform MubasherTrade Egypt, Ehab Rashad, Vice Chairman of the Board of Directors of Mubasher Capital Holding, said on Monday.
Mubasher aims to cover all companies listed on international stock markets by the end of 2021.
The company's plan, which includes providing an integrated platform for listed and unlisted companies worldwide, will be implemented over several phases.
This service will help enhance Egypt's role among international capital markets, as a finance hub, in line with the government's efforts to develop the EGX as one of the top emerging markets.
In a press conference in Cairo, Rashad explained that: “Mubasher will offer an unprecedented service in Egypt, allowing non-resident foreigners access to international trading through a dedicated platform by Mubasher Trade, a subsidiary of Mubasher Capital. This important milestone will further magnify Egypt's role in the global financial markets; and will also enhance Egypt's transformation into a financial centre - resonating with the government's focus, since the Egyptian Stock Exchange is considered one of the most promising emerging markets, and plays a pivotal role in supporting the process of building and developing the Egyptian economy.”
"This service will attract and direct the attention of non-resident foreigners to the Egyptian stock market, offering attractive investment opportunities, especially with the steady economic growth rates the Egyptian economy has been achieving lately," Mostafa El-Debawy, Managing Director of Mubasher Trade Egypt, said.
"The service will also provide non-resident foreigners investment opportunities in international financial markets through advanced technological platforms in mobile phone applications and Mubasher Trade Egypt's website," El-Debawy added.
He noted that "this service is provided to clients through one account only, and for the first time in Egypt through MubasherTrade Egypt - the leading company in technological applications in all capital markets."
