Online trading firm CFI has made its debut in Azerbaijan
with the acquisition of AzFinance İnveŞtisiya Şirkəti, CFI announced today
(Monday) on LinkedIn. Following this step, the rebranding of AzFinance to CFI
is scheduled for later this year, and according to the company, this
acquisition could open new avenues for local and regional traders.

Expansion into Azerbaijan

Established for over 25 years, CFI’s entry into Azerbaijan
represents its first foray into this emerging market. CFI mentioned that this
initiative positions it to benefit from Azerbaijan’s location and growing
economic growth. AzFinance is a brokerage firm regulated by the Central Bank of
Azerbaijan.

Following the acquisition, AzFinance will undergo a
rebranding to reflect its new identity under the CFI Group. This transition,
scheduled for Q4 2024, also includes the integration of AzFinance’s services
into CFI’s trading platform. It seeks to offer clients a broader range of
financial products, including equities, commodities, and currencies.

Commenting about the deal, Hisham Mansour, the Co-founder
and Managing Director of CFI, said: “CFI is excited to enter Azerbaijan, a
market with vibrant economic potential. This acquisition highlights our
dedication to growth and our mission to provide superior trading
services.”

Ongoing International Expansion

The acquisition of AzFinance is reportedly part of CFI’s
ongoing international expansion following successful entries into markets like
Egypt, Kuwait, Oman, and Palestine.

Expect ongoing updates as this story evolves.