CFI Financial Group, one of the world's leading online trading brokers, has made a strategic entry into Azerbaijan's securities market by acquiring shares in Azfinance Investment Company OJSC, Ednews informs via foreign media.

CFI Financial Group, with its rich history dating back to 1998, aims to introduce globally recognized online trading services to the Azerbaijani market.

As part of its expansion strategy, the holding company plans to rebrand its newly acquired investment firm by the end of this year.

Hisham Mansour, Co-Founder and Managing Director of CFI, expressed enthusiasm about the expansion: "CFI is delighted to enter the Azerbaijani market, as this country holds strategic importance due to its economic potential. We eagerly anticipate building strong relationships with traders in Azerbaijan and enhancing their trading experience with the highest standards."

Azfinance, the acquired company, was established in 2014 with a charter capital of 1.55 million manats ($911,764). Prior to the acquisition, 85% of the investment company's shares belonged to Abid Mamedov (Chairman of the Supervisory Board), while the remaining 15% were owned by Intigam Safaraliyev (Director).