QInvest commences business in Saudi
Doha, September 25, 2011
QInvest Saudi Arabia, a subsidiary of Qatar’s leading investment bank QInvest, has been granted a licence by the Capital Market Authority (CMA) to conduct business in Saudi Arabia, and has commenced business activities.
QInvest Saudi Arabia offers managing, arranging, advising and custody services for a wide range of corporate, institutional and high net worth individual clients.
The Saudi entity, operating from the Kingdom Tower in Riyadh, will play a major role in attracting new investment into the Kingdom while delivering high value services to clients through its business lines: investment banking, investment management and wealth management.
“We are delighted to begin a significant period in the evolution of QInvest with the CMA licence,” said Shahzad Shahbaz, chief executive officer of QInvest.
“Our Saudi operations represent an important milestone in our mission to develop QInvest as a leading global Islamic Investment Bank. We look forward to work with shareholders and partners to realize this mission.'
Khalil Ghalayini, newly appointed as chief executive officer of QInvest Saudi Arabia, will be focusing on generating business by both attracting new investment to the kingdom and offering Saudi investors opportunities across a range of markets.
“As we look towards the future we remain optimistic about market opportunities and the competitive dynamics in the region. We have created a strong platform staffed by a highly talented team to deliver strong business performance in Saudi Arabia,” said Ghalayini.
The establishment of QInvest Saudi Arabia follows the recent establishment of representative office in Turkey, both of which complement its strategic partnership in the UK, US and India. – TradeArabia News Service