"AlKhair Capital" The first Saudi Investment Institution to Receive a License to Operate from Dubai International Financial CentrePress Release20 Apr 2014 08:40 am
DUBAI, April 20th, 2014: AlKhair Capital Saudi announced that it has opened an office at the Dubai International Financial Centre (DIFC), following approval from the Dubai Financial Services Authority (DFSA) for a Category 4 license that allows AlKhair Capital Saudi to operate as an authorized entity from the DFSA. Making it the first Saudi Investment Institution registered and licensed by the Capital Market Authority in Saudi Arabia to get a license to operate in the DIFC.
The new branch will help to expand AlKhair existing services to corporate and institutions offering a unique set of advisory and execution services to its clients. "We are delighted to be basing ourselves at DIFC to launch our operations in the UAE and beyond regionally, and we look forward to delivering our clients a full range of investment banking services and advisory services," commented Mr. Yousef Al-Shelash, Chairman of AlKhair Capital Saudi. "Bank AlKhair has been operating for more than 10 years and we intend to strengthen our presence and capabilities to best serve our clients with an expanded range of products and services."
His Excellency Essa Kazim, Governor of Dubai International Financial Centre (DIFC) said: "Al Khair's decision to establish an office at DIFC is testament to the continuing success of the strategy announced by His Highness Sheikh Mohammed bin Rashid Al Maktoum to establish Dubai as an Islamic Economy Hub. This is a vision that DIFC believe in and we are committed to supporting by creating an environment that is conducive to Islamic Finance Institutions. We are pleased to welcome Al Khair to DIFC and look forward to supporting them through their next phase of development and growth."
Moreover, the Chief Executive Officer of AlKhair Capital Saudi added: "This step is taken after a detailed study of the market needs and the position of Dubai as a regional Islamic finance hub; in addition to the current projects in the pipeline that will have a significant demand on the Sukuk market. AlKhair Bank Group has differentiated itself in the market by issuing many Sukuk programsas well as other debt capital market instruments during the past years; as a result, the presence of AlKhair Capital in Dubai will certainly add value in this field."
Alkhair Capital Saudi Arabia commenced operations in the Kingdom of Saudi Arabia in August 2009. The company seeks to provide the market with an integrated and comprehensive range of Shari'ah compliant investment products and services, with an emphasis on delivering exceptional value and tailored solutions to clients and shareholders. Alkhair Capital Saudi Arabia's business model is built around three core business lines: Asset Management, Corporate Finance & Investment Banking and Brokerage.