Standard Chartered has signed a deal to provide custodial and fund administration services to UAE-based investment institution Al Mal Capital.
Under the terms of the partnership, Standard Chartered will deliver custody services su
UAE investment bank Al Mal Capital has shut down its Saudi office following a winding down of its brokerage unit and a broad staff layoff at its head office, two people familiar with the matter said.
A statement posted by the firm on the S
UAE-based Al Mal Capital said it has received approval from the Capital Market Authority (CMA) in Saudi Arabia to expand its range of activities to include asset management and investment banking, alongside its existing brokerage business.
Al Mal Capital, a UAE Central Bank-regulated investment company, has launched its private equity program with the introduction of two new funds.
The two funds - Al Mal Capital Partners Fund LP and the Shariah-compliant Al Fares Private Equ