CI Cap­i­tal, Al Ra­jhi Cap­i­tal sign bro­ker­age agree­ment

The deal com­ple­ments CI Cap­i­tal’s ex­pan­sion strat­egy in the re­gion

The Daily News Egypt - - Business -

CI Cap­i­tal, the lead­ing di­ver­si­fied fi­nan­cial ser­vices group, an­nounced Sun­day that it has en­tered into an agree­ment with Al Ra­jhi Cap­i­tal (ARC), the fully-owned bank­ing sub­sidiary of Al Ra­jhi Bank, a lead­ing bro­ker­age house in the King­dom of Saudi Ara­bia (KSA), that pro­vides ac­cess to the Saudi eq­uity cap­i­tal mar­ket to CI Cap­i­tal’s client base.

The agree­ment is aligned with CI Cap­i­tal’s on­go­ing, am­bi­tious plan to con­clude bi­lat­eral agree­ments with key fi­nan­cial in­sti­tu­tions that will help cre­ate a solid re­gional plat­form that de­liv­ers in­te­grated and ef­fec­tive so­lu­tions to all their clients.

The new part­ner­ship will lever­age both firms’ grow­ing reach and the breadth of their of­fer­ings in both the Saudi & Egyp­tian eq­uity mar­kets.

As one of the lead­ing cap­i­tal mar­ket play­ers in Saudi Ara­bia, ARC is keen on fa­cil­i­tat­ing in­vestor ac­cess to eq­uity mar­kets, both di­rectly and through part­ner­ships with other lead­ing firms.

ARC be­lieves that the launch of this part­ner­ship with CI Cap­i­tal will pave the way, al­low­ing so­phis­ti­cated global in­sti­tu­tional clients ac­cess to un­par­al­leled ser­vice, with a unique lo­cal per­spec­tive in both mar­kets, in a timely fash­ion.

Karim Khadr, the manag­ing di­rec­tor of CI Cap­i­tal’s head of bro­ker­age, noted, “the part­ner­ship is not only a key mile­stone in our bro­ker­age re­gional ex­pan­sion strat­egy, but more im­por­tantly, serves as a vi­tal en­try point for our clients to the KSA, the Mid­dle East’s largest ex­change. Saudi Ara­bia rep­re­sents 40.7% of to­tal MENA mar­ket cap­i­tal­i­sa­tion and main­tains its am­bi­tious plans to up­grade its mar­ket in­fra­struc­ture and open up its stock mar­ket to for­eign in­vestors.”

Khadr added that, “the part­ner­ship of­fers ac­cess & ex­e­cu­tion op­por­tu­ni­ties for our in­sti­tu­tional clients and cap­i­talises on our abil­ity to de­liver fully in­te­grated and stream­lined so­lu­tions.”

Both firms are among the MENA re­gion’s largest bro­ker­age houses and have a proven track record of struc­tur­ing and ex­e­cut­ing large, com­plex trans­ac­tions.

The firm op­er­ates re­gion­ally from 20 of­fices across the KSA, and em­ploys over 250 in­vest­ment pro­fes­sion­als.

CI Cap­i­tal’s bro­ker­age divi­sion is one of Egypt’s lead­ing bro­ker­age houses and cur­rently ranks sec­ond, with an over­all mar­ket share of 11% and more than a 30% share of all in­sti­tu­tional trad­ing on the Egyp­tian Ex­change as of 2016.

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