Al Mal Capital announced that it has received approval from the Capital Market Authority (CMA) in Saudi Arabia to expand its range of activities in the Kingdom to include Asset Management and Investment Banking, alongside its existing Brokerage business. And hence will change the company name from “Al Mal Securities Saudi” to “Al Mal Capital Saudi”.
Al Mal Capital Saudi, the multi-line, newly integrated business will serve clients across the spectrum of investment offerings: from underwriting, advising, arranging placement and public offerings, to performing a custody function on behalf of clients, to managing innovative fund products which take advantage of the exciting opportunities available in the exciting Saudi Arabian equity and debt markets, both public and private.
Naser Nabulsi, Executive Chairman of Al Mal Capital PSC said, “This is a landmark moment for Al Mal Capital. An expanded presence in Saudi Arabia, the largest regional market, is a key tenet in our strategy to expand our core business offering across GCC and the broader Middle East.”