17 May 2006

Rasmala Investments, an Investment company focused on Asset Management and Investment Banking, announced yesterday the launch of its new subsidiary, Rasmala Financial Brokerage LLC.

Rasmala Brokerage currently offers its clients a brokerage platform to trade on Dubai Financial Market through its state of the art technology platform, and provides reliable brokerage services and superior client service. Rasmala brokerage is expected to commence trading on the Abu Dhabi Securities Market and provide its clients with e-trading facilities within a few weeks.

“The new brokerage firm represents a key initiative for Rasmala and a further important step in our plans to be at the forefront of the investment community in the UAE and indeed across the region,” said Ali al Shihabi, Founder & CEO of Rasmala Investments. He added: “By offering brokerage services, we leverage our investment platform and provide a complete package for the active investor.” The Rasmala Investment Platform offers asset allocation services, manager selection, execution and customer statement generation on a fully white labeled basis, as well as a fully integrated Customer Relationship Management (CRM) capability.

In the near future, Rasmala Brokerage will offer seamless access to execute in the 12 main Arab stock markets and in the international markets (US, Europe and Asia). “For the first time investors in the UAE will be able to use a secure technology platform integrated with various regional and international exchanges to conduct their transactions”, said Majdi Mansour, CEO of Rasmala Brokerage.

Rasmala Brokerage is owned by Rasmala Investments (majority shareholder), Saudi investors Khaled and Jamal Al Johar who have more than 20 years of experience in the Saudi Stock Market, and Q-Invest, a leading brokerage company in Oman.

The Board of Directors of Rasmala Brokerage met in Dubai recently and appointed Tamer Bazzari as Chairman. Mr. Bazzari, who heads Rasmala’s Investment Banking activities, has significant experience in the UAE stock markets as he previously worked as the Senior Advisor to the Dubai Financial Market.