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CFI, an established online trading company, has announced its expansion into Azerbaijan with the acquisition of AzFinance İnveŞtisiya Şirkəti (AzFinance Investment Company). This move marks CFI as the first international company to establish a local presence in Azerbaijan.
The acquisition aligns with CFI's strategy to extend its services to new markets. With over 25 years of experience in the industry, CFI plans to introduce its online trading services to Azerbaijan, a country with a growing economy and strategic location in the region.
AzFinance İnveŞtisiya Şirkəti is licensed and regulated by the Central Bank of Azerbaijan under license number ISN/L-7/2016. Following the acquisition, the company will be rebranded to reflect its integration into the CFI Group. The full launch, expected in Q4 2024, will provide traders in Azerbaijan access to CFI's range of trading products across various asset classes.
Hisham Mansour, Co-founder and Managing Director of CFI, commented on the acquisition: "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 expansion follows CFI's recent launches in Egypt, Kuwait, Oman, and Palestine, demonstrating the company's ongoing international growth strategy. The move aims to provide localized support and trading solutions to traders in Azerbaijan and surrounding areas.
