FRA approves request from Mubasher to suspend advisory branch

The Financial Regulatory Authority approved Mubasher International’s request to temporarily suspend activities at its financial advisory armfor a year, CEO Ayman Sadek tells Al Mal. Mubasher’s EGM had signed off on the suspension on the back of a slowdown in EGX activity. The company will undergo a restructuring program in the meantime, and keep an eye on the market until conditions show signs of improvement, Sadek added.