Overview
- CFI Financial Group appointed Amr Abdelbaky as CEO of CFI Egypt, its locally regulated brokerage for securities and bonds trading.
- Operating under Egypt’s Financial Regulatory Authority, the unit gives local clients direct access to more than 200 Egyptian Exchange stocks including CIB, QNB ALAHLI, and Telecom Egypt.
- Group CEO Ziad Melhem said the move strengthens the firm’s presence on the ground, with Abdelbaky pledging a straightforward client experience built on technology, competitive fees, and a local team.
- The Egypt business centers on domestic equities rather than offshore contracts for difference, reflecting rising retail interest tied to currency reforms, an IMF program, and state sell-downs.
- CFI entered the market in 2022 by acquiring local broker El Mahrousa, and it now uses a partnership with the Egyptian Basketball Federation for community outreach while keeping client and volume targets undisclosed.