Press Room

12/12/2007 Al Mal Securities Saudi launches Saudi Arabia’s first Gulf sponsored brokerage operation
Posted on 12 Dec 2007

United Arab Emirates, December 12, 2007 – Al Mal Securities Saudi, a controlled subsidiary of UAE-based Al Mal Capital psc, is now offering brokerage services in securities listed on the Saudi Stock Exchange [Tadawul].

The new subsidiary is the first Gulf sponsored Company to obtain a Saudi brokerage license and is the first to launch the Saudi brokerage services. It has a capital of SAR 60 million and is 55% owned by Al Mal Capital, a full-service investment company with paid-up capital of AED 333 million licensed and regulated by the Central Bank of the UAE.

“We are bringing to our institutional and high net-worth clients prime brokerage services and investment advice at the parent level,” said Naser Nabulsi, Executive Chairman of Al Mal Capital. “We also provide asset management and investment banking services and the expansion of our brokerage platform will develop stronger client relationships and spread awareness of our research and placement capabilities.”

Al Mal Securities Group acting as the advisory and brokerage division of Al Mal Capital is the first prime broker in the MENA region to serve institutional investors and financial institutions. . The Group was initially formed to offer clients full-service brokerage in the Dubai and Abu Dhabi stock markets. It is now present in Saudi with expansion plans in DIFX, Jordan as well as Egypt. It has adopted the most innovative and advanced execution platform and provides a network of brokers and professional staff to provide superior levels of client service.

“We pride ourselves on combining extensive regional knowledge with highly qualified internationally-experienced staff who recognise the importance of the individual client and ensure our service is truly world-class,” said Nabulsi.

Al Mal Securities Saudi is located in Sky Towers on King Fahed Road in Riyadh. The 45% of its capital not owned by Al Mal Capital is divided equally between five regional investors – Sheikh Mishal Bin Hethlain (Chairman), Sheikh Abdul Mounem Al Rashid, Al Hokair Group, Abdel Rahman Al Mousa Group and Global Investment House [Kuwait]. Al Mal Securities Saudi Ltd operates under CMA License Number [01 - 06025].