Alkhair Capital Saudi Arabia recently received approval from the Saudi Arabian Capital Market Authority (CMA) to raise its paid-up capital from SAR 300 million to SAR one billion. This increase in capital was driven by strong shareholder confidence in the expected growth of the financial sector in Saudi Arabia.
Khalid Al Mulhim, Managing Director and CEO of Alkhair Capital, commented: “This year, we celebrate our tenth anniversary at Alkhair Capital in Saudi Arabia. Working in the Saudi market over that time, we have achieved many goals for our investors and have acquired extensive experience in asset management and financial advisory services at both regional and international level.”
The company announced that this new injection of capital is to be distributed across several financial investment products, including support for margin financing, expansion in underwriting and IPO management, as well as the establishment of strategic funds in sectors including healthcare, education and FinTech. Alkhair Capital is also in the process of upgrading its current trading platform, for the brokerage department to better meet new client requirements.
CEO Al Mulhim continued: “Especially following the recent developments in the rules and regulations related to the Saudi financial market, we can see numerous opportunities for expansion and continued growth. These include possible geographical expansion and continued efforts to attract the best and brightest new talents from the Kingdom to our team.”
Alkhair Capital currently manages investments valued at approximately ten billion Saudi Riyals, including private portfolios and private funds in the healthcare, food and education sectors of the Kingdom as well as fixed income. In 2014, Alkhair Capital became the first Saudi investment firm, registered and licensed by the Capital Market Authority of Saudi Arabia, to be licensed by the Dubai Financial Services Authority (DFSA) to operate in the Dubai International Financial Centre (DIFC). Now operating from new offices in Emirates Financial Towers, Alkhair Capital Dubai has plans to become a much more significant player in the UAE market.
Alkhair Capital was first licensed in 2009 and operates in accordance with the rules and regulations laid down by the Capital Market Authority of the Kingdom of Saudi Arabia for Sharia-compliant activities, including asset management, brokerage, advisory and custody services. Alkhair Capital currently has assets of approximately 10 billion Saudi Riyals under management. Alkhair Capital Dubai was the first Saudi licensed investment firm to be licensed by the Dubai Financial Services Authority (DFSA) to operate in Dubai International Financial Centre (DIFC).
Media Enquiries:
Alkhair Capital (Dubai) Ltd
Mr. Ibrahim Jadallah
T: +971 4 518 9006
M: +971 52 800 2319
E: ibrahim@alkhaircapital.ae
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