Al Rajhi Capital, the investment arm of Saudi-based Al Rajhi Bank, has announced the signing of a distribution agreement with Derayah Financial, the largest mutual fund supermarket in the Middle East.

As per the agreement, Derayah will make Al Rajhi Capital’s Shariah-compliant mutual funds available to individual investors through its website (www.derayah.com).

Modker Al Mutairi, vice president, Sales and Distribution at Al Rajhi Capital, said the deal represents the company's aim to widen the distribution channels of its investment funds, so as to cater for and meet growing customer needs.

Al Mutairi underlined that Derayah Financial’s reputation reflected well and played an instrumental role in Al Rajhi Capital’s decision to sign this distribution agreement and make its mutual funds accessible to a wider audience of investors.

Mohammed El-Kuwaiz, chief commercial officer and managing partner of Derayah Financial, expressed delight at Al Rajhi Capital's decision to list their mutual funds on Derayah’s platform.

'We are proud of this new partnership which we believe, will add value and provide more choice for investors, as Al Rajhi Capital is one of the pre-eminent names in Shariah compliant Investment management in the region,' he added.

El-Kuwaiz pointed out that the unified website which was launched by Derayah to make all Shariah-compliant mutual funds available under one roof has attracted considerable attention from Banks and Investment Companies that are seeking to gain access to larger segments of customers.-TradeArabia News Service