The Egyptian Financial Supervisory Authority (EFSA) has awarded Pharos Securities Brokerage the licence to trade in foreign markets, according to a statement published on Tuesday, the awarded licence will enable Pharos to serve their overseas clients worldwide wherever Pharos’ international partners are based.
Receiving this licence is a huge step forward for Pharos Securities Brokerage, as it will solidify the and strength their position within the market, stated CEO of Pharos Holding, Elwy Taymour.
“As part of our overarching strategy, we can now provide our foreign clients with a fully integrated brokerage service that will help us continue to facilitate and meet their business and investment needs and requirements. With the new licensc, we have a better opportunity to achieve international outreach through partnerships across the world,” Taymour added.
Moreover, according to the statement, Pharos Securities Brokerage’s Research team will now look to expand its geographical coverage, after being awarded this licence.
Pharos is going through a transformation and expansion to all its services, in order to help their clients to achieve their long term investment plans. According to Angus Blair, COO of Pharos Holding. Blair added that this licence complements the transformation and underpins, positively, the services which Pharos can and will supply to their broadening client base.
“The EFSA licence provides Pharos Securities Brokerage with an edge for our foreign institutions and foreign clients,” said Essam Abdel Hafiez, managing director of Pharos Securities Brokerage. “Receiving this licence will enable our clients to manage their portfolios trade efficiently and hassle free anywhere in the world.”