9 September 2006
Rasmala Investments, a leading regional Investment Bank, based in the Dubai International Financial Center, announced today that it has been awarded a license, by the Saudi capital markets authority, to establish a wholly owned subsidiary, Rasmala Investments (Saudi Arabia) Ltd., to be based in Riyadh.
Commenting on this development, Mr. Ali Samir al Shihabi, Founder and CEO of Rasmala, said: “Saudi Arabia is the largest and most important financial market in the region. The establishment of Rasmala Investments (Saudi Arabia) Ltd. is an important step in the growth and development of Rasmala.
Rasmala’s Saudi subsidiary will allow the company to service its Saudi client base more effectively and grow its Saudi business. The company will focus on Private Equity, Mergers, Acquisitions, IPO advisory and other associated services that are approved by the Saudi Capital Market Authority.
Rasmala is managed by a team of partners with extensive experience in the global and regional financial services sector.
Rasmala’s shareholders include Deutsche Bank, SAMBA Financial Group, and a distinguished group of investors from Saudi Arabia and the UAE.