CFI, a global leader in online trading, has announced its entry into Azerbaijan through the acquisition of AzFinance İnveŞtisiya Şirkəti (AzFinance Investment Company). This milestone positions CFI as the first international company to establish a local presence in Azerbaijan, underscoring its commitment to serving the local markets, community, and neighbouring countries.
With over 25 years of experience, CFI is set to bring its world-class online trading services to Azerbaijan, further highlighting the country's growing importance in the global financial landscape. Azerbaijan's dynamic market, strategic location, and robust economic growth present numerous opportunities for both local and regional traders. By establishing a local presence there, CFI aims to contribute to Azerbaijan's economic development while offering unparalleled trading services.
AzFinance İnveŞtisiya Şirkəti is licensed and regulated by the Central Bank of Azerbaijan to carry out the necessary financial and investment services, under license number ISN/L-7/2016. The newly acquired company will be rebranded after the acquisition to reflect its integration into the CFI Group. Upon full launch, traders in Azerbaijan will gain access to CFI's comprehensive suite of trading products across multiple asset classes, including equities, commodities, currencies, and more. CFI will continue serving its current client base and offering trading services in local and international markets.
CFI's advanced trading technology, combined with global standards and local expertise, ensures that clients in Azerbaijan will benefit from highly competitive trading conditions, superior execution, and state-of-the-art trading platforms. The rebranding and launch of services are expected in Q4 2024.
Hisham Mansour, co-founder and managing director of CFI said: "CFI is excited to expand into Azerbaijan and is committed to delivering exceptional trading services to this new territory. Azerbaijan holds significant strategic importance due to its vibrant market and economic potential. Our entry into this market through this acquisition showcases CFI's commitment to growth and our mission to bring superior trading services to a broader audience. We look forward to building strong relationships with traders in Azerbaijan and empowering their trading journey with the highest standards of excellence. I would like to thank everyone who worked on this acquisition and commend AZ Finance's ex-shareholders and management for its excellent track record, which we plan to build on."
This acquisition continues CFI's international expansion strategy, building on the significant growth in the past year, which saw the group launch in four new markets, including Egypt, Kuwait, Oman, and Palestine. The move signifies the group's commitment to offering world-class trading solutions and localised support, ensuring that traders in Azerbaijan and beyond can thrive in the dynamic world of online trading.