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ADFS acquires controlling stake in Al Salam Brokerage

United Arab Emirates: Saturday, August 02 - 2008 @ 16:55

“The acquisition comes in line with NBAD Group’s Strategic expansion plans regionally and internationally, and as a step to show the Bank’s commitment and confidence in the in the Egyptian market. It also aims to diversify the NBAD’s products and expanding the customer base,”

said Mr. Khaled Abdel Rahman Khaled, ADFS’ General Manager.

“The selection of Al Salam company was based their long existence in the Egyptian market and its expertise in stock brokerage since 1994,” he added.

“Final details of the transaction are being finalized in order to take necessary actions for execution, and will be announced in due course,” ADFS’ General Manager concluded.

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Saturday, August 2- 2008 @ 16:55 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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