Wallich & Matthes Joins the Dubai International Financial CentrePress Release 14 May 2007 04:27 pm
Wallich & Matthes (Dubai) Limited, a joint venture between Wallich & Matthes B.V., The Netherlands, and Gulf Investments FZC, announced that it has been granted a license by the Dubai Financial Services Authority (DFSA) to undertake broking activities across a wide spectrum of financial products in the Dubai International Financial Centre (DIFC).
Wallich & Matthes B.V. (W&M) is a well-established Amsterdam broking firm that, as a standard-setting independent arranger, can be regarded as a key to international money and capital markets. Since 1879, W&M has built partnerships with treasurers and has been a discreet and independent intermediary to a number of respected credit providers and policymakers.
The JV partner, Gulf Investments FZC, is represented by Arshad Y. Wahedna and Muhammad Sameer Lakhani, both of whom have carved a niche for themselves in the real estate and financial services industry in South Asia and the Middle East. Arshad’s business interests in India include various Stock & Commodity Exchange memberships and several prestigious real estate projects. The flagship company, Sharyans Resources Limited, is listed on the Bombay Stock Exchange and has a market capitalisation of over $ 50 million.
Nasser Al Shaali, CEO of the DIFC Authority welcomed Wallich & Matthes to the DIFC: “Wallich & Matthes is a valuable addition broking firms that are joining the DIFC, bringing a wealth of experience and a history of success. In particular, being a JV with a Middle Eastern investment company, it demonstrates the benefits of partnerships between international and regional financial institutions.”
Muhammad Sameer Lakhani, Director and C.E.O. stated: “Wallich & Matthes has built up expertise in the European money and capital markets for more than a century and we now have the opportunity to tap this expertise and apply it on a local level for the benefit of our Middle Eastern customer base. We intend to complement the work of merchant banks, either for utilizing liquidity, finding opportunities for investments, covering deficits, or mortgage loans.”
The Dubai office enables Wallich & Matthes to help their customers to tap into the increasing capital flow between Europe and the Middle East. The office will also offer local investors alternative investment ideas and will help local borrowers to fund their activities at the lowest possible cost.