Khalijia Invest to launch Saudi operations
Manama, December 23, 2009
Khalijia Invest, a specialist in corporate finance and asset management, said it will soon start operations across Saudi Arabia in compliance with Shari’ah guidelines after it got approval from the Kingdom's Capital Market Authority.
The company also unveiled its corporate logo, 'Big opportunities in the small details.'
As one of the recently established investment companies in the region, Khalijia Invest differentiates itself with the company’s ambitious plans as an investment company whose objective is to create unique investment opportunities in local and regional vibrant sectors of the economy, said a senior official.
Khalijia Invest CEO Muneer Al Shehri said that restoring investor confidence was a strategic objective for its business after the global economic impact.
'The resultant turmoil has created new opportunities for the emergence of new investment banking firms which are untainted by root causes of the financial crisis and this creates new opportunities for the development of local firms operating to international standards such as Khalijia Invest,' he added.
Al Shehri said that family companies represent a promising target client base for Khalijia Invest to offer financial advisory services and 'assist these family groups in developing their strategic roadmap and prepare them for IPO.'
Khalijia Invest disclosed its plans to the launch four Shari’ah Complaint Investment Funds in the first half of 2010.
With regard to its adherence to Shari’ah guidelines, the CEO said the mandate of Khalijia Invest’s Shari’ah supervisory board, comprising scholars Shaikh Dr Mohamed El Gari (chairman), Shaikh Dr Nizam Yaqoubi and Shaikh Lahem AlNasir, was to oversee its business activities.
Dhafer Salih Alqahtani, deputy CEO, said that Khalijia Invest’s concentration on Shari’ah compliant Corporate Finance and Investment Funds is in line with the strategy for the firm as outlined by the Board under the leadership of the chairman Prince Sultan Bin Mohamed Bin Saud AlKabeer.
Alqahtani said the company had plans to enter into strategic alliances to capitalize on existing investment opportunities in the main economic sectors within Saudi Arabia.-TradeArabia News Service