TNI spreads out to Saudi Arabia
Abu Dhabi, February 19, 2009
Leading banking and merchant group The National Investor (TNI) recently announced the incorporation of The National Investor Saudi Arabia (TNI-KSA).
The official incorporation of TNI-KSA with the Ministry of Commerce and Industry (MoCI) of Saudi Arabia has marked TNI’s first expansion outside the UAE.
TNI-KSA is licensed by the Capital Market Authority for all five securities businesses - advising, arranging, managing, custody, and dealing (except for dealing as agent). These licenses provide the firm access to the largest GCC economy, while also expanding its reach to solidify TNI’s position as a leading regional investment bank.
TNI signed a partnership agreement with Al Rajhi Investment Group in Saudi Arabia in 2007 and received a license from the CMA to provide financial services there in April 2008. The official letter of commencement from the CMA is expected by the end of March 2009, according to a statement. - TradeArabia News Service