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First regulated Saudi investment firm gets DIFC license

AlKhair Capital Saudi said to receive license to operate from Dubai International Financial Centre

Published: Updated:

AlKhair Capital Saudi has become the first regulated Saudi investment institution to be licensed to operate in the Dubai International Financial Centre (DIFC), according to a statement issued on Sunday.

AlKhair received approval from the Dubai Financial Services Authority (DFSA) for a Category 4 license, and will become the first Saudi firm regulated by the Capital Market Authority to operate in the DIFC.

“We are delighted to be basing ourselves at DIFC to launch our operations in the UAE and beyond regionally, and we look forward to delivering our clients a full range of investment banking services and advisory services,” said Yousef al-Shelash, chairman of AlKhair Capital Saudi, in a statement issued by the DIFC.

AlKhair commenced operations in Saudi Arabia in August 2009. Its business lines include asset management, corporate finance, investment banking and brokerage services.