Doha, Qatar - Monday, September 26th 2011 [ME NewsWire]
- Mr. Shahbaz: “important milestone in our mission to develop QInvest as a leading global Islamic Investment Bank”.
- Mr. Ghalayini: “a strongplatform staffed by a highly talented team to deliver strong business performance”
QInvest Saudi Arabia, a subsidiary of Qatar’s leading Investment Bank, QInvest LLC,has been granted by The Capital Market Authority (CMA) a license to conduct business in the Kingdom of Saudi Arabia, and has commenced business activities.
QInvest Saudi Arabia offers Managing, Arranging, Advisingand Custody services for a wide range of corporate, institutional and High Net Worth Individual clients. The Saudi entity, operating from the iconic Kingdom Tower in Riyadh,will play amajor 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.
QInvest Saudi Arabia represents the expansion of QInvest activities, within the GCC region.
QInvest Chief Executive Officer, Mr. Shahzad Shahbaz, said: “We are delighted to begin a significant period in the evolution of QInvest with the CMA licence. 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”
With paid up capital of Saudi Riyals 50 million, Mr. Khalil Ghalayini, newly appointed as Chief Executive Officer of QInvest Saudi Arabia, will be focusing on generating business by both attracting new investment to KSA and offering Saudi investors opportunities across a range of markets within the region and beyond. His experience in the Kingdom, supported by strong relationships, will underpin significant development of the business.
Commenting on granting the license, Mr. Ghalayinisaid: “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.
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, USA and India.
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Notes to the Editor
About QInvest Saudi Arabia
QInvest Saudi Arabia, the first subsidiary of QInvest LLC based in Qatar, was licensed by the Capital Market Authority in Saudi Arabia (CMA) on 27th of August 2011. The firm has a paid up capital of 50 million Saudi Riyals.
Led by Chairman Shahzad Shahbaz, and Chief Executive Officer, Khalil Ghalayini, QInvest Saudi Arabia represents the expansion of Qatar’s leading Islamic Investment bank, QInvest LLC, within the GCC region.
QInvest LLC, led by H.E. Sheikh Jassim Bin Hamad Bin Jassim Bin Jaber Al Thani - Chairman of the board of Directors, has created a world class investment banking capability operating under Sharia’a compliant structures, with the highest standards of governance and transparency. The Bank was licensed by Qatar Financial Center Authority (QFC) in April 2007 and is authorised by Qatar Financial Center Regulatory Authority (QFCRA).
The QInvest Saudi Arabia shareholder structure includes QInvest LLC as well as other institutional investors. The platform offers a broad range of expertise which enables the Bank to deliver a high value service to clients, seamlessly covering advisory, financing and investment needs.
Our business lines include investment banking, investment management and wealth management.
QInvest Saudi Arabia’s talented team of investment bankers brings a valuable mix of both local and international experience knowledge, enabling the Bank to pursue opportunities across the kingdom.
www.qinvest.com.sa
Contacts
QInvest LLC
Bassel Hanbali –
Head of Marketing & Corporate Communications
+974 66542099
bassel.hanbali@qinvest.com
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