QInvest commences business in Saudi Arabia

QInvest Saudi Arabia, a subsidiary of Qatar’s leading Investment Bank, QInvest, has been granted by The Capital Market Authority (CMA) a license to conduct business in the Kingdom of Saudi Arabia, and has commenced business activities.

QInvest Saudi Arabia offers Managing, Arranging, Advising and Custody services for a wide range of corporate, institutional and High Net Worth Individual clients. The Saudi entity, operating from the iconic Kingdom Tower in Riyadh, will play a major role in attracting new investment into the Kingdom while delivering high value services to clients through its business lines: investment banking, investment management and wealth management.

QInvest Saudi Arabia represents the expansion of QInvest activities, within the GCC region.

QInvest Chief Executive Officer, Mr. Shahzad Shahbaz, said: “We are delighted to begin a significant period in the evolution of QInvest with the CMA licence. Our Saudi operations represent an important milestone in our mission to develop QInvest as  a leading global Islamic Investment Bank. We look forward to work with shareholders and partners to realize this mission”. 

With paid up capital of Saudi Riyals 50 million, Mr. Khalil Ghalayini, newly appointed as Chief Executive Officer of QInvest Saudi Arabia, will be focusing  on generating business by both attracting new investment to KSA and offering Saudi investors opportunities across a range of markets within the region and beyond. His experience in the Kingdom, supported by strong relationships, will underpin  significant development of the business.  

Commenting on granting the license, Mr. Ghalayini said: “As we look towards the future we remain optimistic about market opportunities and the competitive dynamics in the region. We have created a strong platform staffed by a highly talented team to deliver strong business performance in Saudi Arabia. 

The establishment of QInvest Saudi Arabia follows the recent establishment of representative office in Turkey, both of which complement its strategic partnership in the UK, USA and India.