Shuaa partners with National Bonds
Dubai, October 4, 2011
Dubai's Shuaa Capital and savings scheme National Bonds formed a strategic alliance under which the investment bank will offer advisory and brokerage services to the Sharia-compliant firm.
The partnership is also aims at expanding the customer bases of both and promoting a savings culture in the UAE.
The tie-up will "help some of our clients shift from risk exposure investments to risk control," remarked Khalifa Al Daboos, chairman of National Bonds.
Shuaa said it was looking to close one or more acquisitions by the end of the year after sources said last month that it had targeted several companies, including brokerages in Egypt, for potential purchases.
Dubai sovereign wealth fund, Investment Corporation of Dubai, took control of National Bonds in March when it brought the remaining 50 per cent it didn't own from entities, including Dubai Holding and Emaar Properties.-Reuters
More Finance & Capital Market Stories
- Qatar c.bank plans $1.1bn in bonds, sukuk
- More support for Islamic banking urged
- Bahrain to set new takaful rules by year-end
- Oman fiscal surplus widens to $1.4bn
- Al khaliji opens new branch in Doha
- Bayzat launches online DBR calculator
- Dubai bourse tops 3,000 for first time in 5 years
- Bahrain mulls solvency rules for Takaful industry
- LuLu Exchange opens 3rd branch in Bahrain
- Saudi economic growth picks up in Q3