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Rana Mamdouh
SHUAA Securities Brokerage – Egypt, a subsidiary of SHUAA Capital Group, has received authorization from EFSA to conduct securities borrowing transactions with the aim of selling short, by decision of the President of the Financial Supervisory Authority n ° 861 of 2019 of July 21st, 2019.
The short sale permit is part of the SHUAA securities trading plans to expand in Egypt after the start of the brokerage business at the end of 2017, the company said in a statement.
Commenting on the company's strategy to provide advanced and integrated financial services to the Egyptian market, Sherif Talaat, general manager of SHUAA Securities Brokerage Egypt, said: "In order to provide all our customers with new products and services, In order to to sell, in accordance with our expansion plan, we wish to strengthen our leadership position in the Egyptian market by strengthening our competitiveness and continuously developing our brokerage services. "
It should be noted that the Short Seal service allows clients to earn a profit in the event of a decline in the price of securities entitled to participate in this mechanism, whereby the investor can borrow securities and resell them later to profit lower price.
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